Parkit expands board; welcomes new director; appoints board chair

VANCOUVER, June 7, 2018 - Parkit Enterprise Inc. ("Parkit" or the "Company") (TSXV: PKT; OTCQX:PKTEF) is pleased to announce that it has increased the size of its board of directors from five to six and that it has appointed Elie Norowitz to fill the additional seat. About Elie:

Elie Norowitz: Mr. Norowitz is the Vice President of Finance at Turnbridge Equities, a New York City based, privately-held full service real estate investment and development firm. Prior thereto, Mr. Norowitz was the Controller for 54 Madison Partners, a New York City based real estate private equity investment vehicle, where he was responsible for all finance, operations, and accounting functions for their real estate fund and properties. Prior thereto, Mr. Norowitz worked for Och-Ziff Real Estate, where he focused on finance, accounting, operations, and asset management functions for their real estate investments. He started his career with KPMG LLP, where he managed financial statement audits of private equity and alternative investment entities. Mr. Norowitz received his Bachelor of Science in Accounting from Touro College and is a Certified Public Accountant (CPA).

The Company also announces that Brad Dunkley has agreed to serve as Chairman of the Board, replacing Joel Dumaresq, who recently resigned. In addition, and as a result of recently announced changes to the Board, the Audit Committee has been reconstituted to include Pace Goldman, Avi Geller and David Delaney.

Brad Dunkley, the Company's Chairman, stated "We are pleased to welcome Elie to Parkit and look forward to his active involvement with the Company."

About PARKIT

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 (Symbol: PKT) and on the OTCQX (Symbol: 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, including the Company's anticipation that Elie Norowitz will be actively involved with the Company going forward. 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, if any.

For further information please contact:

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