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Toronto, May 23, 2025 (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 4.1% increase in revenues to $1,132,621 in the quarter ended March 31, 2025, from $1,087,886 at the same period last year.
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Details of the 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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| Three Months Ended | |||
| (Unaudited) | |||
| March 31, | |||
| 2025 | 2024 | ||
| Revenue | $ 1,132,621 | $ 1,087,886 | |
| Net Income (Loss) before fair value adjustment, | |||
| other income items and income taxes | $ 56,078 | $ (46,490) | |
| Net Income (Loss) before fair value adjustment | |||
| other income items and income taxes per share – basic and diluted | $ – | $ – | |
| Net Income and Comprehensive Income | $ (314,792) | $ (32,418) | |
| Net Income and Comprehensive Income | |||
| per common share – basic | $ (0.01) | $ – | |
| Net Income and Comprehensive Income | |||
| per common share – diluted | $ (0.01) | $ – | |
| Weighted average number of common | |||
| shares outstanding – basic | 21,410,685 | 21,290,685 | |
| Weighted average number of common | |||
| shares outstanding – diluted | 22,034,186 | 21,930,408 | |
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The company is pleased to announce that it has refinanced all six mortgages due this year with new mortgages at a term of one year at fixed rates. Three mortgages will mature on April 1, 2026, at 5.17%. One mortgage will mature on April 4, 2026, at a rate of 5.18%. One mortgage will mature on April 28, 2026, at a rate of 5.16%. The remaining mortgage will mature on May 4, 2026, at a rate of 5.13%.
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About Gulf & Pacific Equities Corp.
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Gulf & Pacific Equities Corp. was incorporated under the laws of the Province of Alberta on April 8, 1998, and thereafter completed a public offering of common shares by prospectus dated June 26, 1998 (TSX-V: GUF).
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The company acquires, manages and develops anchored shopping malls in Western Canada’s rural center’s, particularly Alberta. Gulf & Pacific targets smaller, rapidly growing hub communities serviced with hospitals, high schools, police stations, and retail service infrastructures. Management has consistently reinvested cash flow to improve and expand its portfolio of income properties.
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Gulf & Pacific Equities Corp. owns three well-located retail assets in Three Hills, St. Paul, and Cold Lake Alberta.
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For further information, please contact:
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Mr. Anthony Cohen
President and Chief Executive Officer
Gulf & Pacific Equities Corp.
1240 Bay Street, Suite 800
Toronto, Ontario
M5R 2A7
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Telephone: 416-968-3337
Telecopy: 416-968-3339
E-mail: [email protected]
www.gpequities.com
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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