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C.D.R. Development Inc. Acquires Additional Common Shares of Gulf & Pacific Equity Corp.

CALGARY, ALBERTA -- (Marketwired) -- 05/30/14 -- C.D.R. Development Inc. ("CDR") announced today that between December 30, 2013 and May 26, 2014 it acquired an additional 240,000 common shares ("Common Shares") in the capital Gulf & Pacific Equity Corp. ("Gulf") which increased their aggregate holdings of Gulf to 1,961,871 Common Shares, representing approximately 21.58% of the issued and outstanding Common Shares.

CDR is currently the registered owner of the Shares. The shareholders of CDR are Mr. Dwayne Ross and Mrs. Cynthia Ross, and, in their capacity as shareholders, may be deemed to exercise control and direction over the Shares.

CDR will be filing a report (as contemplated by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues) in connection with the recent acquisitions of Shares. A copy of the report may be obtained from SEDAR (www.sedar.com) or without charge from CDR at the address listed below. Nothing in this press release or in the filing of the above-mentioned report is an admission that any entity named in the report is a joint actor with another named entity.

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