Gulf & Pacific Equities Corp. Announces Retention of Market Maker
21 September 2018 - 11:00PM
Gulf & Pacific Equities Corp. (TSX-V:
GUF)
(“
Gulf” or the “
Company”) an
established company focused on the acquisition, management and
development of anchored shopping centres in Western Canada is
pleased to announce that, subject to regulatory approval, it has
retained Mackie Research Capital Corporation
(“
Mackie”) to initiate it's liquidity services to
provide market making, on the exchange, in compliance with the
policies and guidelines of the TSX Venture Exchange and other
applicable legislation.
Mackie will trade shares of Gulf on the TSXV for
the purposes of maintaining a reasonable market and improving the
liquidity of Gulf's common shares. The Company has agreed to pay
Mackie $4,000 per month during the term, payable quarterly in
advance. The term is open-ended and the engagement may be
terminated by either party with written or verbal notice. The
agreement is principally for the purposes of maintaining market
stability and liquidity for the Company's common shares and is not
a formal market making agreement. There are no performance factors
contained in the agreement between Mackie and the Company and
Mackie will not receive any shares or options from the Company as
compensation for services it will render. Gulf and Mackie are
unrelated and unaffiliated entities. Mackie does not currently have
any direct or indirect interest in Gulf or its securities but
Mackie may in the future acquire direct or indirect interests in
Gulf or its securities.
About Mackie Research Capital
Corporation
Mackie is one of Canada's largest independent
full service investment firms, and proudly traces its roots back to
1921. Mackie is privately owned by many of its 300 employees. As a
fully integrated national investment dealer, Mackie offers a full
complement of capital markets and wealth management services to
private clients, institutions and growth companies.
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.1240 Bay Street, Suite
800Toronto, OntarioM5R 2A7
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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