Dwayne Ross Acquires 2,843,500 Common Shares of Gulf on the Transfer by C.D.R. Development Inc.

PROVOST, ALBERTA--(Marketwired - Jan. 13, 2017) - C.D.R. Development Inc. ("CDR") announced that on January 12, 2016, pursuant to a private transaction, it transferred 2,843,500 common shares (the "Common Shares") of Gulf & Pacific Equities Corp. ("Gulf") to Dwayne Ross, a director, officer and shareholder of CDR, at a deemed price of $0.195 per Common Share for a deemed consideration of $554,482.50.

Following the acquisition of the Common Shares, Mr. Ross now owns and controls 2,843,500 Common Shares of Gulf, representing 13.36% of the issued and outstanding common shares of Gulf. Mr. Ross is the registered owner of the Common Shares.

Mr. Ross acquired the Common Shares for investment purposes. Depending on his evaluation of the business, prospects and financial condition of Gulf, the market for Gulf's securities, general economic conditions and other factors, Mr. Ross may acquire additional securities of Gulf, or may sell some or all of the securities of Gulf which it holds, in the open market, by private agreement or otherwise.

Each statement in this press release of the percentage of the issued and outstanding common shares of Gulf owned or controlled by CDR is based on the disclosure of the number of issued and outstanding common shares of Gulf contained in the public disclosure documents filed by Gulf on SEDAR.

An early warning report will be filed by Mr. Ross in accordance with applicable Canadian securities laws and will be available under Gulf's profile on SEDAR at www.sedar.com.