Gulf & Pacific Equities Corp. Announces 5 Year Lease Renewal with Sobeys Capital Incorporated at Tri-City Mall
13 December 2017 - 1:01AM
Gulf & Pacific Equities Corp. (TSX-V:GUF) an established
company focused on the acquisition, management and development of
anchored shopping centres in Western Canada, is pleased to announce
a 5 year lease renewal with Sobeys Capital Incorporated (“Sobeys”)
at Tri-City Mall, in Cold Lake Alberta.
During the fourth quarter of 2017, Sobeys and
the company agreed to the lease renewal for another 5 years
representing the Second Extension Term. Furthermore,
the company grants Sobeys a further option to extend the term of
the lease.
“We are very pleased to announce Sobeys 5 year
renewal at Tri-City Mall. Its been a pleasure working with
Sobeys over all these years and we are looking forward to the many
years ahead at Tri-City Mall,” said Anthony Cohen, President and
CEO.
For full details, please visit us at
www.gpequities.com.
About Sobeys Capital
Incorporated
A proudly Canadian company with more than 110
years in the food business, Sobeys Inc. is a wholly-owned
subsidiary of Empire Company Limited, headquartered in Stellarton,
Nova Scotia. On a mission to bring better food to Canadians by
helping them Eat Better, Feel Better and Do Better, Sobeys and its
franchisees and affiliates employ more than 125,000 people from
coast-to-coast.
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-V: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.
For further information, please
contact:
Mr. Anthony CohenPresident and Chief Executive
OfficerGulf & Pacific Equities Corp.Suite 300, 1300 Bay
StreetToronto, OntarioM5R 3K8
Telephone:
416-968-3337Telecopy:
416-968-3339E-mail:
info@gpequities.comwww.gpequities.com
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.
NOT FOR DISTRIBUTION TO U.S. WIRE
SERVICES OR FOR DISTRIBUTION INTO THE UNITED STATES
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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