Mr. Anthony Cohen reports

GULF & PACIFIC EQUITIES CORP. REPORTS ON 2023 YEAR-END RESULTS WITH REVENUE OF $4,442,745 AND UPDATES NEW LEASING IN TRI-CITY MALL

Gulf & Pacific Equities Corp. had a 5.4-per-cent increase in revenues to $4,442,745 in the year ended Dec. 31, 2023, from $4,215,751 at the same period last year.

Details of the 12-month and three-month financial results for fiscal 2023 and 2022 under international financial reporting standards (IFRS), as summarized in the attached table, are also available on SEDAR+ or the company's website.

The company has leased premises at Tri-City Mall in Cold Lake, Alta., to a new tenant, Western Financial Group (Network) Inc.

About Gulf & Pacific Equities Corp.

Gulf & Pacific Equities 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.

The company acquires, manages and develops anchored shopping malls in Western Canada's rural centres, particularly Alberta. Gulf & Pacific targets smaller, rapidly growing hub communities serviced with hospitals, high schools, police stations and retail service infrastructures. Management has consistently reinvested cash flow to improve and expand its portfolio of income properties.

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

We seek Safe Harbor.