Gulf & Pacific Equities Corp.
TSX VENTURE : GUF

Gulf & Pacific Equities Corp.

December 11, 2014 09:01 ET

Gulf & Pacific Equities Corp. Welcomes Ardene to St. Paul Shopping Centre

TORONTO, ONTARIO--(Marketwired - Dec. 11, 2014) -

NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISTRIBUTION INTO THE UNITED STATES

Gulf & Pacific Equities Corp. (TSX VENTURE:GUF) an established company focused on the acquisition, management and development of anchored shopping centres in Western Canada, is pleased to announce that Arden Holdings Inc. ("Ardene") has opened today at St. Paul Shopping Centre, in St. Paul, Alberta.

The terms of the Ardene lease is for an initial term of ten years plus two extensions of five years each. The premises will be for approximately 7,945 sq. ft..

"We are excited to welcome Ardene to our St. Paul Shopping Centre," said Anthony Cohen, President and CEO. "With our current tenants, Dollar Tree, Giant Tiger, Mark's, Peavey Mart, Suncor and Tim Hortons, St. Paul Shopping Centre is now fully leased and a destination retail centre. We want to thank our loyal customers in St. Paul as we transformed the former indoor mall to a premier retail centre in the past two years. The result is a brand new mall to serve the residences of St. Paul and surrounding communities for many years to come."

For full details, please visit us at www.gpequities.com.

About Ardene

Celebrated by many fashion savvy and value conscious shoppers, Ardene has quickly become the source for the most current fashion accessories, footwear and clothing at affordable prices. Ardene knows how important it is to look good and still have enough money left over to have fun!

Ardene is one of Canada's premier fashion retailers with over 400 stores nationwide. From its start as a fashion accessory and jewelry store, Ardene has grown to become a truly unique one-stop shopping destination! With a product assortment which includes shoes, accessories, jewelry, clothing, intimates and beauty products, we offer girls the exciting opportunity to dress themselves from head to toe in one store!

In an ever-changing fashion world, staying on trend can be expensive. At Ardene, our primary focus has always been bringing our customers fashionable products at prices that are affordable. Looking good shouldn't break the bank, and at Ardene it won't. As new goods arrive weekly, our choices of styles are always fun and affordable for that fashion-conscious customer.

With a dynamic retail environment, Ardene thrives to create a shopping experience unlike any other. Our stores and personnel make it easy for customers to relax, shop, and enjoy themselves!

About Gulf & Pacific Equities Corp.

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 VENTURE:GUF).

The Company acquires, manages and develops anchored shopping malls in rural centres in Western Canada, in particular Alberta. Gulf & Pacific targets smaller, but rapidly growing hub communities that have hospital, high school, police station and retail/service infrastructure. Management has consistently reinvested cash flow to improve and grow its portfolio of income properties.

Gulf & Pacific Equities Corp. currently owns three, well-located retail assets located in Three Hills, St. Paul, and Cold Lake, Alberta.

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.

Cautionary Statements

This news release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation, concerning the business, operations and financial performance and condition of Gulf & Pacific Equities. Forward-looking statements include, but are not limited to, statements with respect to the benefits of the offering and option transaction. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Gulf & Pacific Equities to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: economic conditions in Western Canada, interest rates, raising less than the required capital; not realizing on the anticipated benefits from the transaction or not realizing on such anticipated benefits within the expected time frame; and other risks of the real estate industry. Although management of Gulf & Pacific Equities has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Gulf & Pacific Equities does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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