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Toronto, ON, April 24, 2026 (GLOBE NEWSWIRE) — Gulf & Pacific Equities Corp. (TSX-V: GUF), an established company focused on the acquisition, management and development of anchored shopping centers in Western Canada, reports a 1.0% decrease in revenue to $4,627,181 in the year ended December 31, 2025, from $4,673,950 at the same period last year.
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Details of the twelve and three months financial results for fiscal 2025 and 2024 under International Financial Reporting Standards (IFRS), as summarized below, are also available at www.sedar.com or the company’s website www.gpequities.com.
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| Year Ended | Three Months Ended | ||||
| (Audited) | (Unaudited) | ||||
| December 31, | December 31, | ||||
| 2025 | 2024 | 2025 | 2024 | ||
| Revenue | $ 4,627,181 | $ 4,673,950 | $ 1,234,972 | $ 1,272,335 | |
| Net Income before fair value | |||||
| adjustment, other income items | |||||
| and income taxes | $ 279,459 | $ 246,910 | $ 67,065 | $ 186,149 | |
| Net Income per common share | |||||
| before fair value adjustment, other | |||||
| income items and income taxes | |||||
| – basic and diluted | $ 0.01 | $ 0.01 | $ – | $ 0.01 | |
| Net Income (Loss) and Comprehensive | |||||
| Income (Loss) | $ (364,064) | $ 194,972 | $ (83,674) | $ 63,022 | |
| Net Income (Loss) and Comprehensive | |||||
| Income (Loss) per common share | |||||
| – basic and diluted | $ (0.02) | $ 0.01 | $ (0.01) | $ – | |
| Weighted average number of common | |||||
| shares outstanding – basic | 21,410,685 | 21,373,206 | 21,410,685 | 21,410,685 | |
| Weighted average number of common | |||||
| shares outstanding – diluted | 21,410,685 | 21,990,954 | 21,410,685 | 22,046,522 | |
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The Company is pleased to announce the appointment of Mr. Daniel Steinertas as Chief Financial Officer, effective May 1, 2026, subject to regulatory approvals. Mr. Steinertas has over 14 years of financial and real estate experience, including roles in investment analysis, mortgage financing, and real estate operations. Mr. Greg K.W. Wong will retire as Chief Financial Officer, effective April 30, 2026, after more than 21 years of service to the Company. Mr. Wong will continue to serve as Director and Corporate Secretary to the Company.
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“I would like to sincerely thank Mr. Greg Wong for his 21 years of service for Gulf & Pacific Equities Corp. and its shareholders. It was always a pleasure working with Greg, and he is the ultimate professional. We wish Greg well in his retirement, and look forward to working with Daniel going forward,” said Anthony Cohen, President and CEO.
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The Company also announces that, following its Board of Directors meeting held on April 23, 2026, it will adopt semi-annual financial reporting in accordance with Coordinated Blanket Order 51-933 – Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers, issued by the Canadian Securities Administrators (the “Blanket Order”). Accordingly, the Company will no longer file interim financial statements and MD&A for the first and third quarters. The next financial disclosure will be for the six months ending June 30, 2026.
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The company is pleased to announce that it has refinanced four mortgages due April 1 and April 4, 2026, with new mortgages at a term of two years at fixed rates. Three mortgages will mature on April 1, 2028, at 5.00%. One mortgage will mature on April 4, 2028, at a rate of 5.00%.
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