Gulf & Pacific Equities Corp. Reports on 2013 Year End Results With Revenue of $2,401,981 and Grant of Options

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, reports a 14.2% decrease in revenues to $2,401,981 in 2013 from
$2,799,996 in 2012.


Details of the twelve and three months financial results for fiscal 2013 and
2012 under International Financial Reporting Standards (IFRS) as summarized
below are also available at www.sedar.com or at the company's website
www.gpequities.com.




                                  Year Ended           Three Months Ended  
                                   (Audited)               (Unaudited)     
                                 December 31,             December 31,     
                               2013        2012         2013       2012    
                           ------------------------  ----------------------
                                                                           
Revenue                     $ 2,401,981 $ 2,799,996   $ 613,854   $ 521,328
                                                                           
Net Loss before fair value                                                 
 adjustment and income                                                     
 taxes                      (1,533,198)   (797,889)   (819,182)   (232,359)
Net Loss before fair value                                                 
 adjustment and income                                                     
 taxes per share - basic                                                   
 and diluted                     (0.17)      (0.09)      (0.09)      (0.03)
                                                                           
Net Income (Loss) and                                                      
 Comprehensive Income                                                      
 (Loss)                       1,495,549   (971,438)   1,973,253   (450,935)
Net Income (Loss) and                                                      
 Comprehensive Income                                                      
 (Loss) per share - basic          0.17      (0.11)        0.22      (0.06)
Net Income (Loss) and                                                      
 Comprehensive Income                                                      
 (Loss) per share - fully                                                  
 diluted                           0.06         (i)        0.08         (i)
                                                                           
Weighted average number of                                                 
 shares outstanding during                                                 
 the period - basic           8,937,401   8,936,678   8,965,663   8,936,678
Weighted average number of                                                 
 shares outstanding during                                                 
 the period - diluted        25,470,068  25,457,345  25,498,330  25,457,345
---------------------------                                                
(i) Not presented as effect of dilutive items are anti-dilutive.           



In addition, at the meeting of the board of directors, the board in accordance
with the Corporation's stock option plan, approved the annual grant of options,
effective April 25, 2014 to acquire a total of 200,000 common shares of the
Corporation at an exercise price of $0.37 per share to the Corporation's
directors. The stock options are vested on date of the grant, April 25, 2014,
and expiring ten years from date of the grant. Prior to the grant of options,
the Corporation has 9,090,011 shares outstanding.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gulf & Pacific Equities Corp.
Mr. Anthony Cohen
President and Chief Executive Officer
416-968-3337
416-968-3339 (FAX)
[e-mail]
www.gpequities.com