Street Capital Announces Election of Directors

TORONTO, June 20, 2019 /CNW/ - Street Capital Group Inc. ("Street Capital" or the "Company") (TSX: SCB), announces the following results for each item of business considered at Street Capital's 2018 Annual Meeting of Shareholders held on June 19, 2019 ("AGM").

Election of Directors

Pursuant to a vote by ballot, the following were the votes in respect of the election of directors:

All director nominees were re-elected. However, pursuant to the Company's policy relating to Majority Voting in Director Elections (the "Policy") and Toronto Stock Exchange rules, any director in respect of whom more votes were withheld than were cast for election must submit his or her resignation as a director of the Company for consideration by the Board of Directors of the Company (the "Board"). Pursuant to the Policy, Mr. Hannay has submitted his resignation as a director of the Company and the Governance, Conduct Review and Compensation Committee of the Company (the "Committee") will consider the resignation and make a recommendation to the Board whether or not such resignation should be accepted. In accordance with the Policy, the Board will make its decision on the Committee's recommendation within 90 days following the AGM. The Company will issue a press release disclosing the Board's determination at that time. The foregoing does not affect Mr. Hannay's role as President and Chief Executive Officer of the Company.

Appointment of Auditor
By a show of hands, shareholders voted in favour of re-appointing Ernst & Young LLP as auditor and authorized the Board to fix the auditor's remuneration for the ensuring year.

About Street Capital Group Inc. (streetcapitalgroup.ca)
Street Capital Group Inc. (TSX: SCB) is a public company operating through its wholly-owned subsidiary, Street Capital Bank of Canada, a federally regulated Schedule I Bank offering residential mortgage loans with the strategic goal of introducing additional retail banking products in the coming years. Street Capital Bank of Canada sources its mortgage products primarily through a network of independent mortgage brokers across Canada with whom it has built relationships. Street Capital Bank of Canada offers a broad line-up of high ratio and conventional mortgages to borrowers and either sells the mortgages it underwrites to top tier financial institutions or holds them on balance sheet. Street Capital Bank of Canada lends throughout all of the Provinces of Canada (other than Quebec) and has offices in Ontario, Alberta and British Columbia. For more information please visit streetcapital.ca.

SOURCE Street Capital Group Inc.