- Gulf & Pacific Equities Corp. (GUF) reports a 14.4 per cent increase in Q3 revenues
- In addition, the company welcomes Fire & Flower to Tri-City Mall in Cold Lake, Alberta
- Gulf & Pacific Equities Corp. currently owns three retail assets located in Three Hills, St. Paul, and Cold Lake Alberta
- Gulf & Pacific Equities Corp. (GUF) is unchanged trading at $0.24 per share as of 3:43 p.m. ET
- Fire & Flower Holdings Corp. (FAF) is up 3.13 per cent trading at $0.66 per share as of 4:10 p.m. ET
Gulf & Pacific Equities Corp. (GUF) reports Q3 revenue of $1,029,139, a 14.4 per cent increase from Q3, 2020.
Additional Q3 highlights include:
- The company has received a total of $60,000 from the Canadian Emergency Business Account (CEBA) loan program, with $40,000 repayable by December 31, 2022
- Leasing and leasing renewals at At Tri-City Mall during Q3 were ongoing
- St. Paul Shopping Centre is fully leased
- Red Apple Stores Inc. continued to operate Three Hills as The Bargain Shop and was deemed an essential service and continued to operate
- The company still holds a vacant lot In Merritt with nominal value
- The company has a revolving unsecured loan agreement with Ceyx Properties Ltd. for up to $6 million at an annual interest rate of 6 per cent with no fixed terms for repayment.
During Q3, the Gulf & Pacific repaid $150,000 of the principal to Ceyx Properties Ltd. As of September 30, 2021, the balance outstanding was $1,697,000.
In addition, the company welcomes Fire & Flower to Tri-City Mall in Cold Lake, Alberta.
Fire & Flower (FAF) is a leading, technology-powered, adult-use cannabis retailer with more than 80 corporate-owned stores in its network.
Gulf & Pacific management has consistently reinvested cash flow to improve and grow its portfolio of income properties.
Gulf & Pacific Equities Corp. (GUF) is unchanged trading at $0.24 per share as of 3:43 p.m. ET.
Fire & Flower Holdings Corp. (FAF) is up 3.13 per cent trading at $0.66 per share as of 4:10 p.m. ET.
