07:53 AM EDT, 05/30/2024 (MT Newswires) -- Mainstreet Equity Corp. ( MEQYF ) on Thursday announced that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid to purchase outstanding common shares of the corporation on the open market in accordance with the rules of the TSX.

A statement noted the corporation is authorized to purchase up to 475,229 Shares under the normal course issuer bid, representing approximately 10% of its public float of issued and outstanding Shares, as of May 22, 2024. As of that date, there were 9,318,818 Shares issued and outstanding. The average daily trading volume of the shares for the past six months ended April 30, 2024, calculated in accordance with the rules of the TSX, was 3,017 and Mainstreet is subject to a daily repurchase limit of 1,000 Shares. Mainstreet intends to commence the normal course issuer bid on June 3, 2024 and terminate the bid on June 2, 2025 or such earlier time as the bid is completed or terminated at the option of Mainstreet.