Parkit Announces the Re-Election of Current Board

VANCOUVER, BRITISH COLUMBIA -- Jul 26, 2016 - Parkit Enterprise Inc. ("Parkit" or "the Company") (TSX VENTURE:PKT)(PKTEF) is pleased to announce that its shareholders have, at the annual general meeting held earlier today in Vancouver, supported the current Board by setting the board size at five directors and re-electing Robert Emri, Pesach (Pace) Goldman, Joel Dumaresq, David Mullen, and Bryan Wallner. All other motions tabled by the current board as outlined in the Blue proxy were also carried.

Regarding the results of the annual meeting, Joel Dumaresq, Chairman of the Board, commented, "We thank shareholders for their support during this proxy contest. Now that we are able to put the distraction of the proxy contest behind us, as discussed in our management information circular, the Board intends to pursue its growth strategy of increasing value to all Parkit shareholders together with our partners."


Parkit Enterprise Inc. is engaged in the acquisition, optimization and asset management of income producing parking facilities across the United States. The Company's shares are listed on TSX-V (PKT) and on the OTCQX (PKTEF).

Neither 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 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.

Contact Information:

Parkit Enterprise Inc.
Joel Dumaresq
Chairman of the Board