C.D.R. Development Inc.

November 06, 2014 18:44 ET

C.D.R. Development Inc. Acquires Additional Common Shares of Gulf & Pacific Equity Corp. and Announces Interest in Acquiring Outstanding Convertible Debentures

CALGARY, ALBERTA--(Marketwired - Nov. 6, 2014) - C.D.R. Development Inc. ("CDR") announced today that between October 22, 2014 and November 5, 2014 it acquired an additional 283,500 common shares ("Common Shares") in the capital Gulf & Pacific Equity Corp. ("Gulf") which increased their aggregate holdings of Gulf to 2,906,871 Common Shares, representing approximately 31.98% of the issued and outstanding Common Shares.

CDR is currently the registered owner of the Shares. The shareholders of CDR are Mr. Dwayne Ross and Mrs. Cynthia Ross, and, in their capacity as shareholders, may be deemed to exercise control and direction over the Shares.

In addition to announcing its holdings of Common Share in Gulf, CDR announces its interest in purchasing issued and outstanding convertible debentures of Gulf ("Debentures"). Any parties interested in discussing the sale of Debentures to CDR, please contact Dwayne Ross.

CDR will be filing a report (as contemplated by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues) in connection with the recent acquisitions of Shares. A copy of the report may be obtained from SEDAR (www.sedar.com) or without charge from CDR at the address listed below. Nothing in this press release or in the filing of the above-mentioned report is an admission that any entity named in the report is a joint actor with another named entity.

Contact Information

  • C.D.R. Development Inc.
    Dwayne Ross
    P.O. Box 794, Provost, Alberta T0B 3S0
    (780) 753-2097
    (780) 753-6025 (FAX)