Gregory Steers becomes significant shareholder of Gulf & Pacific Equities Corp.

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TORONTO, April 19, 2021 /CNW/ - Gregory Steers (the "Acquiror") of Toronto, Ontario has today filed an early warning report (the "Early Warning Report") advising of his acquisition of an aggregate of 400,000 common shares (the "Shares") of Gulf & Pacific Equities Corp. (the "Company") on the TSX Venture Exchange. The Shares were purchased at a price of $0.20 per Share for total aggregate consideration of $80,000.00. The Acquiror acquired direct and indirect ownership of an aggregate 400,000 Shares of the Company (the "Transactions"), which when added to the securities previously held by the Acquiror increased the Acquiror's overall percentage holdings in the Company representing approximately 11.57% of the outstanding Shares of Gulf & Pacific on an undiluted basis and 11.11% on a fully diluted basis.

The Shares were purchased for investment purposes. The Acquiror may acquire additional Shares of the Company either on the open market or through private acquisitions or sell the Shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

This news release is being issued as required by National Instrument 62-104 - Take-Over Bids and Issuer Bids and relates to the Company, whose head office is located at 1240 Bay Street, Suite 800, Toronto, Ontario, M5R 2A7, and to the Acquiror. A copy of the Early Warning Report can be obtained at www.sedar.com under the Company's company profile.

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