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Message: Re-Financing With Servus Credit Union for Its Property in Three Hills, Alberta

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Re-Financing With Servus Credit Union for Its Property in Three Hills, Alberta

posted on Jan 20, 09 07:44AM

January 20, 2009

Gulf & Pacific Equities Announces Re-Financing With Servus Credit Union for Its Property in Three Hills, Alberta

TORONTO, ONTARIO--(Marketwire - Jan. 20, 2009) -

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 grocery store anchored shopping centres in Western Canada, is pleased to announce that it has closed a re-financing with Servus Credit Union in the amount of $536,250 for five years with interest of 8.4% per annum payable monthly including principle and interest. The financing will be secured by a 1st mortgage on the company's property, in Three Hills, Alberta.

"We are pleased to continue our on going partnership with Servus Credit Union", said Anthony Cohen, President and CEO. "We have worked in the past with Servus Credit Union on a number of successful projects and hope to continue for many more years."

Full details are available at www.sedar.com or at the company's website www.gpequities.com.

About Servus Credit Union

Servus Credit Union is a full service member-owned financial institution serving more than 400,000 members through a network of 100 locations in 63 Alberta communities. As of its November 1, 2008 amalgamation with Common Wealth Credit Union and Community Savings, Servus has nearly $10 billion in assets, making it the third largest nationally and Canada's first province-wide credit union. The credit union provides a complete line of banking services, including registered accounts, financing, investments, insurance, commercial banking, 24-hour on-line and telephone banking. Operations will be managed through the Edmonton head office with regional offices in Lloydminster and Red Deer.

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 grocery-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 five, well-located retail assets located in Three Hills, Whitecourt, St. Paul and Cold Lake, Alberta, as well as in Merritt, B.C.

In 2005, Gulf & Pacific Equities Corp. was named the 22nd fastest growing company in Canada by "Profit" magazine, a Rogers publication. In 2006 and 2008, the company made the list again as the 162nd and 145th fastest growing company in Canada.

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