Exchange Approves Convertible Debenture
Vancouver, B.C., November 13, 2013 – Parkit Enterprise Inc. (the “Company”) (TSX‐V: PKT) – is pleased to announce that further to its news release dated November 4, 2013, the Company has received TSX Venture Exchange approval to the closing of its convertible debenture private placement. The Company has issued a $300,000 six-month convertible debenture at 8% annualized interest comprised of 750,000 Units priced at $0.40 each. Each Unit consists of one common share and one common share purchase warrant, each warrant entitling the purchaser to purchase one common share at $0.40 per share during the six month term of the debenture.
No finder’s fee was paid in connection with the private placement closing. All securities issued or issuable in relation to this private placement are subject to a regulatory four month hold period expiring from date of issuance, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada. The proceeds of the debenture were used to supplement the closing of the recent US $16,500,000 Canopy refinancing.
Canopy has received independent appraisals which value the facility at up to US $40,000,000.
ON BEHALF OF THE BOARD
COO & Director
Parkit Enterprise Inc. acquires income-producing commercial real estate with a focus in the parking sector. Parkit built, owns and currently operates a 4,200 stall, LEED Gold certified parking facility at Denver International Airport with our partner Propark America. www.canopyairportparking.com & www.propark.com
Parkit intends to acquire, optimize and aggregate a diversified portfolio of parking facilities across North America. www.parkitenterprise.com
Parkit Enterprise Inc.
Suite 1088 – 999 West Hastings Street
Vancouver, British Columbia
Canada V6C 2W2
Tel. (604) 424‐8700
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 news release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.