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Toronto, May 20, 2022 (Globe Newswire) – Gulf and Pacific Equities Corporation (TSX-V: GUF) An established company focused on the acquisition, operation and development of anchored shopping centers in western Canada, reported a 7.7% increase in revenue to $ 940,004 for the quarter ended March 31, 2022, from $ 873,038 in the same period last year.
Details of the financial results for the three months to 2022 and 2021 under the International Financial Reporting Standards (IFRS), summarized below, are also available at www.sedar.com or the company’s website www.gpequities.com.
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| Three months have passed | ||||||
| (Unchecked) | ||||||
| March 31, | ||||||
| 2022 | 2021 | |||||
| Revenue | 3 | 940,004 | 3 | 63,036 | ||
| Net income (Loss) Before FAir quality adjustment, | ||||||
| Other income items And income tax | 3 | (84,64) | ) | 3 | 420 | |
| Net income (Loss) Before fair price adjustment | ||||||
| Other income items and income tax Per share – basic and thin |
3 | – | 3 | – | ||
| Net income And massive income |
3 | 3,069 | 3 | 117,666 | ||
| Net income And massive income |
||||||
| Per Ordinary Share – Basic And thin | 3 | – | 3 | 0.01 | ||
| The average weighted average number | ||||||
| Outstanding Share – Basic | 21,290,685 | 21,290,685 | ||||
| The average weighted average number | ||||||
| Outstanding stock – thin | 21,694,423 | 21,290,685 | ||||
Also, the company is pleased to announce that from the end of the first quarter to the beginning of the second quarter, the company has met the requirement to secure প্ল 3 million in funding from Canadian Western Bank at the rate of Prime Plus 1%. Construction of a new 7,491 sq ft pad site at Tri-City Mall. The হ 100,000 credit line was secured at the same rate. Construction has begun, and details of the new tenants will be announced once finalized.
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About Gulf and Pacific Equities Corporation
Gulf and Pacific Equities Corporation was incorporated under the law of the province of Alberta on April 8, 1998, and then completed a public offering of common shares by prospectus dated June 26, 1998 (TSX-V: GUF)
The company acquires, operates and develops anchored shopping malls in rural Canada, especially in Alberta. The Gulf and Pacific regions target small but fast-growing hub communities with hospitals, high schools, police stations, and retail / service infrastructure. Management has consistently reinvested cash flow to improve and enhance its portfolio of income features.
Gulf and Pacific Equities Corporation currently owns three, well-located retail assets in Three Hills, St. Paul and Cold Lake Alberta.
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For more information, contact:
Mr. Anthony Cohen
President and CEO
Gulf and Pacific Equities Corporation
1240 Bay Street, Suite 800
Toronto, Ontario
M5R 2A7
Telephone: 416-968-3337
Telecopy: 416-968-3339
Email: [email protected]
www.gpequities.com
Neither the TSX Venture Exchange nor its regulation service provider (as the term is defined in the TSX Venture Exchange Policy) assumes responsibility for the adequacy or accuracy of this release.
Not for distribution in U.S. wire services or for distribution in the United States
Warning statement
This news release contains “Advanced Statements” between the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and the meaning of Canadian law relating to the business, activity and financial performance and status of Gulf and Pacific equities.
Offers and statements relating to the convenience of alternative transactions include, but are not limited to, advance statements. Typically, these forward statements can be identified using far-reaching terms such as “plan”, “expected” or “not expected”, “expected”, “budget”, “scheduled”, and “assumed”. , “Predict”, “intentionally”, “guess” or “not guess”, or “believe”, or the difference between such words and phrases or say that some action, event or result “could”, “could ”,“ Will ”,“ probably ”or“ will be accepted ”,“ will happen ”or“ acquired ”.
Foresight statements are made based on management opinions and assumptions as of date of making such statements and are subject to known and unknown risks, uncertainties and other factors which may result in actual results, level of activity, performance or achievement of Gulf and Pacific equities. The risks associated with such expressive statements must be materially different from those expressed or implied, including but not limited to: the economic condition of Western Canada, interest rates, growth below the required capital; Not realizing the expected benefits from the transaction or not realizing such expected benefits within the expected time; And other risks in the real estate industry. While the management of Gulf and Pacific equities has tried to identify important factors that may make the actual results materially different from the previous statements, there may be other factors that may result in the results not being as expected, conjectured or intended. There is no guarantee that such a statement will prove to be accurate, as actual results and future events may differ materially from those expected in such a statement. Accordingly, readers should not unnecessarily rely on forward-looking statements. Gulf and Pacific Equities does not undertake to update any prudent statements included herein by reference, except in accordance with applicable securities law.
