Parkit Appoints New Officers and Grants Incentive Stock Options

VANCOUVER, Aug. 23, 2018 - Parkit Enterprise Inc. ("Parkit" or the "Company") (TSXV: PKT; OTCQX: PKTEF) announces the appointment of Steve Strauss and Avi Minkowitz to the offices of Vice-President of the Company.

Parkit has granted 50,000 incentive stock options to each of Mr. Strauss and Mr. Minkowitz, exercisable at the price of $0.29 per share for a period of 5 years, vesting over the first 12 months in 4 equal quarterly instalments.  This grant of options is subject to TSX Venture Exchange acceptance.

As previously announced on July 6, 2018, Mr. Strauss and Mr. Minkowitz joined the Company when Parkit purchased the operating assets of Smart Parking Solutions Canada Inc.  Since this acquisition, the Company has been actively seeking parking based real estate acquisitions and has seen deal flow increase dramatically.  Both Mr. Strauss and Mr. Minkowitz are focusing on deal origination.  The board of directors is excited by the new deal flow and are looking forward to increasing shareholder value through a targeted acquisition strategy.

About PARKIT

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

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. Forward-looking statements in this press release include those concerning the Company's intent to actively pursue acquisitions and increase its asset base using a targeted acquisition strategy.  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, including the risks disclosed in the Company's public filings on SEDAR. 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, if any, the Company might obtain from them.

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. 

For further information please contact:

Bryan Wallner
Chief Executive Officer
Tel. (604) 424-8700
Email: bryan@parkitenterprise.com

David Delaney
Executive Chairman
Tel. (647) 347-8952
Email: david@parkitenterprise.com

Avi Geller
Executive Director
Tel. (845) 517-2340
Email: avig@parkitenterprise.com