Parkit Enterprise Releases Q1 2018 Results

Vancouver, B.C. March 28, 2018 – Parkit Enterprise Inc. ("Parkit" or "the Company")(TSX-V: PKT; OTCQX: PKTEF) has recently filed its interim financial statements and management discussion and analysis for the quarter ended January 31, 2018 ("Q1 2018") on SEDAR (www.sedar.com).The financial highlights for the period include:

  • Revenue of $102,079, comprised of fee income, profit from joint ventures and profit from associate;
  • Net loss of $261,761, or $(0.01) per share, inclusive of a foreign exchange loss of $169,885;
  • Working capital of $2,412,923 (including cash of $2,200,584), and
  • Net asset value decreased slightly to $17,123,006, equivalent to $0.53 per share.

"Q1 is traditionally slow for parking revenues, reflecting seasonality in the "off-airport" market. Strategies and marketing initiatives are being put in place to incentivize parkers to utilize the parking facilities. In addition, the Company continues to pursue opportunities, particularly in Canada, that include parking assets and services as well as opportunities that function and have similar dynamics to parking.", said Parkit Enterprise Inc CEO, Bryan Wallner.

For a more full explanation of the Company's Q1 2018 results, please refer to the Company's interim filings on SEDAR or the Company's website.

For further information please contact:

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

About PARKIT

Parkit Enterprise Inc. is engaged in the acquisition, optimization and asset management of income producing parking facilities and related businesses. 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.