Mainstreet Announces Normal Course Issuer Bid

CALGARY, May 30, 2016

The Corporation is authorized to purchase up to 487,890 Shares under the normal course issuer bid, representing approximately 10% of its public float of issued and outstanding Shares, as of May 24, 2016. As of that date, there were 8,932,915 Shares issued and outstanding. The average daily trading volume of the Shares for the past six months ended April 30, 2016, calculated in accordance with the rules of the TSX, was 8,290 and Mainstreet is subject to a daily repurchase limit of 25% of such volume, being 2,072 Shares. Mainstreet intends to commence the normal course issuer bid on June 1, 2016 and terminate the bid on May 31, 2017 or such earlier time as the bid is completed or terminated at the option of Mainstreet. 

All shares purchased under this bid will be purchased in the open market through the facilities of the TSX at the prevailing market price at the time of such transaction. Shares acquired under the bid will be cancelled and returned to treasury. 

Mainstreet intends to acquire Common Shares from time to time in amounts and prices which its management believes are favourable and consistent with prudent economic and financial considerations. During the period between April 21, 2015 and March 1, 2016, Mainstreet repurchased and cancelled 221,236 Shares under its previous normal course issuer bid at a volume weighted average price of $33.72 per Share. In addition, on April 22, 2106 the Corporation repurchased and cancelled 1,200,000 Shares at a purchase price of $36.00 per Share pursuant to a substantial issuer bid.

Mainstreet's Board of Directors believes that, from time to time, the market price of its Shares may not reflect their underlying value. At such times, the Board of Directors believe that the purchase of Shares for cancellation pursuant to the normal course issuer bid is in the best interests of Mainstreet and its shareholders, as the cancellation of the Shares will increase the value of the remaining Shares.

Forward-Looking Information

Certain statements contained herein constitute "forward-looking statements" as such term is used in applicable Canadian securities laws. These statements relate to, among other things, Mainstreet's intentions to acquire Shares pursuant to the normal course issuer bid, the timing of such bid and that the repurchase and cancellation of the Shares pursuant to the bid is in the best interests of the shareholders and that it will increase the value of the remaining Shares. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions of future events or performance (often, but not always, using such words or phrases as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements.