Toronto, Ontario — March 14, 2022 – PARKIT ENTERPRISE INC. (TSXV: PKT) (“Parkit” or the “Corporation“) is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange to conduct a Normal Course Issuer Bid (“NCIB“) to purchase for cancellation, during the 12-month period starting March 18, 2022, up to 11,723,184 of the outstanding common shares of the Corporation (the “Common Shares“), representing 5% of the Common Shares outstanding. The program will end on March 17, 2023 unless the maximum amount of Common Shares is purchased before then or Parkit provides earlier notice of termination.

The purchase and payment for the Common Shares will be made by Parkit through the facilities of the TSX Venture Exchange or alternative trading systems. National Bank Financial Inc. has been selected as Parkit’s agent for the NCIB. The price paid for the Common Shares will be, subject to NCIB pricing rules contained in securities laws, the prevailing market price of such Common Shares on the TSX Venture Exchange at the time of such purchase. Parkit intends to fund the purchases out of available cash.

Parkit believes that the market price of its Common Shares may not reflect their underlying value and the Board of Directors has authorized this initiative because, in the Board’s opinion, the proposed purchase of Common Shares pursuant to the NCIB constitutes an appropriate use of Parkit’s funds, and the repurchase of its Common Shares is one way of creating shareholder value.

To the knowledge of Parkit, no director, senior officer or other insider of the Parkit currently intends to sell any Common Shares under the NCIB. However, sales by such persons through the facilities of the TSX Venture Exchange may occur if the personal circumstances of any such person changes or any such person makes a decision unrelated to these NCIB purchases. The benefits to any such person whose Common Shares are purchased would be the same as the benefits available to all other holders whose Common Shares are purchased.

About Parkit Enterprise Inc. 
Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+”), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSX-V (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott: 

Investor Relations 
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: statements regarding the proposed Acquisitions, including the closing and the timing thereof, the method of payment for the proposed Acquisitions and the satisfaction of conditions in relation to the proposed Acquisitions; and Parkit’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit’s current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the completion of satisfactory due diligence by Parkit in relation to the ‎proposed Acquisitions‎; the satisfactory fulfilment of all of the conditions precedent to the proposed ‎Acquisitions including satisfactory due diligence‎ and satisfactory ‎environmental site assessment reports‎; the ‎receipt of all required approvals for the proposed Acquisitions‎, including any third ‎party consents; market acceptance of the ‎proposed Acquisitions‎; the receipt of, and accuracy of the value of, appraisals received for the proposed ‎Acquisitions; the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in Parkit’s services and products; and Parkit’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of Parkit’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place, social ‎distancing and mandatory vaccination policies, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on Parkit which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that Parkit offers; and a deterioration of ‎financial markets that could limit Parkit’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

TORONTO, Feb. 22, 2022 — Parkit Enterprise Inc. (“Parkit” or the “Company”) (TSXV: PKT), is pleased to announce that, further to its January 4th, 2022 news release, it has completed the acquisition of two industrial assets from two vendor groups (collectively, the “Vendors”) for an aggregate purchase price of $17,000,000, subject to customary adjustments (the “Acquisitions”). Both Acquisitions are arm’s length.

Acquisition of 568 Second Street, London, ON and 1665 Boul. Lionel-Bertrand, Boisbriand, QC

Parkit acquired 568 Second Street, London, ON and 1665 Boul. Lionel-Bertrand, Boisbriand, QC (the “Properties”) for an aggregate purchase price of $17,000,000 (the “Acquisition”). The Properties are approximately 141,000 square feet on 5.6 acres of land.

Purchase Price and Payment

The aggregate purchase price for the Acquisitions is $17,000,000, subject to adjustments, and was satisfied through the issuance of 2,000,744 common shares of Parkit for $2,500,000 and $14,500,000 from funds on hand. The common shares issued in connection with the Acquisition will be subject to a hold period of four months and one day following the date of issuance.

Steven Scott, Chair of Parkit, states, “The Acquisitions start the year off by adding a strategic asset in London, Ontario and to enter the Quebec market with a Class A industrial property located in the Montreal suburbs.”

Leasing Update

Parkit continues to maximize its cash flow by signing Walmart Canada as a tenant at its 5610 Finch Ave East, Toronto property. The property continues ongoing development, with permitting and zoning, for the construction of a warehouse and distribution facility.

Change of Auditor

Parkit has appointed RSM Canada LLP as auditor of Parkit effective February 22, 2022. RSM is the 5th largest firm by revenue in North America and has over 13,000 employees in Canada and the US.

About Parkit Enterprise Inc. 

Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+”), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s common shares are listed on TSX Venture Exchange (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott:

Investor Relations 
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: statements regarding the continuing development of the ‎5610 Finch Ave East, Toronto property, including ‎permitting and zoning for the construction of a warehouse and distribution facility‎; and Parkit’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit’s current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the ‎receipt of all required approvals, permitting and zoning for the continuing development of the 5610 Finch Ave East, Toronto property‎; the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in Parkit’s services and products; and Parkit’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability to satisfy the conditions for the approvals, permitting or zoning relating to the continuing development of the 5610 Finch Ave East, Toronto property; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of Parkit’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place, social ‎distancing and mandatory vaccination policies, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on Parkit which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that Parkit offers; and a deterioration of ‎financial markets that could limit Parkit’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law. 

Toronto, Ontario — Parkit Enterprise Inc. (TSXV: PKT) (“Parkit” or the “Company”), has agreed to acquire two Class A located industrial assets from two vendor groups (collectively, the “Vendors“) for an aggregate purchase price of $17,000,000, subject to customary adjustments (the “Acquisitions“). Both Acquisitions are arm’s length. It is anticipated that the Acquisitions will close in Q1 2022.

The Acquisitions total 141,031 square feet, are located in Boisbriand, Quebec and London, Ontario.

Purchase Price and Payment
The aggregate purchase price for the Acquisitions is $17,000,000, subject to adjustments, and is payable by the issuance of up to approximately $2,500,000 of Parkit common shares for one of the assets based on an agreed upon VWAP ending three days prior to closing, with the remainder of the aggregate purchase price being paid with funds on hand and mortgage assumption. 

Steven Scott, Chair of Parkit, states, “The Acquisitions start the year off by adding a strategic asset in London, Ontario and to enter the Quebec market with a Class A industrial property located in the Montreal suburbs.”

Conditions Precedent to the Acquisitions
The obligations of Parkit to complete the Acquisitions are subject to conditions including, but not limited to: satisfactory due diligence and satisfactory environmental site assessment reports. The obligations of both Parkit and the Vendors to complete the closing of the Acquisitions are subject to the satisfaction of other customary closing conditions and include, for one of the Acquisitions, acceptance of the TSX Venture Exchange (“TSXV“). Neither of the two Vendor group Acquisitions are conditional or contingent on the completion of the other Acquisition. 

Other Information
There can be no assurance that the Acquisitions will be completed as proposed or at all. The TSXV has in no way passed upon the merits of the Acquisitions and has neither approved nor disapproved the contents of this news release. No new insiders will be created, nor will any change of control occur, as a result of the ‎Acquisitions. ‎

Issuance of Options
Certain officers, employees, consultants and directors have been issued an aggregate of 3,400,000 options pursuant to the Company’s option plan effective December 31, 2021 with each such option being exercisable into one common share at an exercise price of $1.50 at any time on or before the tenth anniversary of its issuance. Each of the options vested on grant.

Of the options granted above, 3,125,000 options were granted to directors and officers of the Company. The Company is relying on exemptions from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 and TSX Venture Exchange Policy 5.9, for the issuance of these options, pursuant to Section 5.5(b) (Issuer Not Listed on Specified Markets) and Section 5.7(a) (Fair Market Value Not More Than 25% of Market Capitalization) of MI 61-101, respectively.

About Parkit Enterprise Inc. 
Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+”), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSX-V (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott: 

Investor Relations 
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: statements regarding the proposed Acquisitions, including the closing and the timing thereof, the method of payment for the proposed Acquisitions and the satisfaction of conditions in relation to the proposed Acquisitions; and Parkit’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit’s current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the completion of satisfactory due diligence by Parkit in relation to the ‎proposed Acquisitions‎; the satisfactory fulfilment of all of the conditions precedent to the proposed ‎Acquisitions including satisfactory due diligence‎ and satisfactory ‎environmental site assessment reports‎; the ‎receipt of all required approvals for the proposed Acquisitions‎, including any third ‎party consents; market acceptance of the ‎proposed Acquisitions‎; the receipt of, and accuracy of the value of, appraisals received for the proposed ‎Acquisitions; the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in Parkit’s services and products; and Parkit’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of Parkit’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place, social ‎distancing and mandatory vaccination policies, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on Parkit which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that Parkit offers; and a deterioration of ‎financial markets that could limit Parkit’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Toronto, Ontario – PARKIT ENTERPRISE INC. (TSXV: PKT) (“Parkit“) is pleased to announce that, further to its November 22, 2021 news release, it has completed the acquisition of 1485 Speers Rd, Oakville, Ontario.

Acquisition of 1485 Speers Rd, Oakville, Ontario
Parkit acquired 1485 Speers Rd, Oakville, Ontario (the “Property“) for an aggregate purchase price of $18,000,000 (the “Acquisition“). The Property is approximately 101,500 square feet on approximately 6.7 acres of land. Parkit plans to expand the gross leasable area on the Property.

Steven Scott, the Chair of Parkit, stated, “This high-quality acquisition in an excellent location follows our plan of adding great assets in strategic locations throughout Canada. With this transaction, Parkit has now completed $136 million of acquisitions over the last twelve months.”

Purchase Price and Payment
The purchase of the Property for $18,000,000, subject to standard adjustments, was satisfied through the issuance of 702,481 common shares in the capital of Parkit for $1,000,000 and $17,000,000 from funds on hand. The common shares issued in connection with the Acquisition will be subject to a hold period of four months and one day following the date of issuance.

About Parkit Enterprise Inc.
Parkit is an industrial real estate platform focused on the acquisition, growth, and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+“), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s common shares are listed on TSX Venture Exchange (TSXV: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott: 

Investor Relations
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: Parkit’s expansion plans for the gross leasable area for the Property and Parkit’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit’s current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the ability to obtain all required permits and approvals for Parkit’s expansion plans for the Property; the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in Parkit’s services and products; and Parkit’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability to satisfy the permitting or approval conditions for Parkit’s expansion plans for the Property; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of Parkit’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social ‎distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on Parkit which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that Parkit offers; and a deterioration of ‎financial markets that could limit Parkit’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Acquisition of Property

Parkit has entered into an asset purchase agreement, with an arms length vendor (the “Vendor“), pursuant to which Parkit has agreed to acquire 1485 Speers Road, Oakville, Ontario (the “Property“) for an aggregate purchase price of $18,000,000, subject to customary adjustments (the “Acquisition“). It is anticipated that the Acquisition will be completed on or before December 15, 2021. The Property is approximately 101,500 square feet on approximately 6.7 acres of land. Parkit will take vacant possession and plans to expand the gross leasable area on the Property.

Purchase Price and Payment

The purchase of the Property for $18,000,000, subject to standard adjustments, and is payable by the issuance of $1,000,000 of Parkit common shares based on the share price from the prior day to closing, with the remainder of the aggregate purchase price being paid with funds on hand.

Steven Scott, the Chair of Parkit, stated, “This high quality acquisition in an excellent location follows our plan of adding great assets in strategic locations throughout Canada.”

Other Information

The TSX Venture Exchange has in no way passed upon the merits of the Acquisition and has neither approved nor disapproved the contents of this news release. No new insiders will be created, nor will any change of control occur, as a result of the ‎Acquisition.

About Parkit Enterprise Inc.

Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the GTA+, Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSX Venture Exchange (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott:

Investor Relations
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: statements regarding the proposed Acquisition, including the closing and the timing thereof, the method of payment for the proposed Acquisition and the expansion of the gross leasable area on the Property; and Parkit’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit’s current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the ‎receipt of all required approvals for the proposed Acquisition‎; market acceptance of the ‎proposed Acquisition; the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in Parkit’s services and products; and Parkit’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of Parkit’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place, social ‎distancing and mandatory vaccination policies, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on Parkit which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that Parkit offers; and a deterioration of ‎financial markets that could limit Parkit’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Toronto, Ontario – ‎Parkit Enterprise Inc. (TSXV: PKT) (“Parkit” or the “Company“) reported the Company’s third quarter results. Steven Scott, Chair, commented:

“Parkit has continued its transition into an industrial real estate platform as it grows its revenues and net rental income, advances its development properties, and continues to find accretive industrial asset acquisitions. Parkit has completed a total of $120 million of industrial assets acquisitions over the past 12 months and looks to continue this strength into the balance of 2021 and beyond.”

2021 Third Quarter Results and Recent Business Highlights

• Revenues and net rental income. Revenues and net rental income continued to increase as we onboard and integrate additional investment properties. The investment properties revenue for the three months ended September 30, 2021 rose to $1,741,371 compared to nil for the three months ended October 31, 2020. Net rental income for the three months ended September 30, 2021 rose to $1,046,586, compared to nil for the three months ended September 30, 2020.
• Significant liquidity position. Cash and cash equivalents were $56,305,690 for the quarter ended September 30, 2021, compared to $588,635 for the quarter ended October 31, 2020.
• Parking operations continues to be impacted by COVID-19. Parkit’s parking joint ventures reported a small loss of $6,547 for the 3 months ended September 30, 2021, compared to a loss of $4,054,601 for the 3 months ended October 31, 2020. The Company expects the parking results to continue to improve as the effects of the pandemic diminish.
• Loss for the period. The Company had a loss for the three months ended September 30, 2021 of $678,310, or a basic and diluted loss per share of $0.00, compared to a loss for the three months ended October 31, 2020 of $4,356,008, or a basic and diluted loss per share of $0.12. The loss for the quarter ended September 30, 2021 resulted from one-time transaction costs incurred on acquisitions, depreciation (non-cash item) and financing costs offset by rising net rental income from its investment properties.
• Funds from operations (“FFO”) increased for the period. Parkit had positive FFO, a non-IFRS measure‎, of $624,431 for the three months ended September 30, 2021, compared to a loss of $90,227 for the three months ended October 31, 2020.
• Subsequent to the quarter, Parkit completed the acquisition oftwo industrial properties, a 74,447 square foot multi-tenanted industrial facility on 4.0 acres of land in Ottawa, Ontario and 2.4 acres of land in Toronto, Ontario that neighbours an existing property in Parkit’s portfolio.
• Continued focus on environmental, social and governance (“ESG”) initiatives. Parkit continued its focus on ESG initiatives by prioritizing environmental investments in its development plans and reviewing its corporate policies.

Financial Information

A summary of the results of operations for the three and nine months ended September 30, 2021 and the three and nine months ended October 31, 2020 is set forth below:

Operational Highlights

Parkit continues to execute on its operational objectives:

• Leasing at elevated rental spreads. Tenants have renewed at market rental rates, >40% over the prior rental rates.
• Low vacancies. Parkit only has vacancies in its development properties and does not have any current vacancy at its investment properties.
• Advancing its development. Parkit continues to advance its development properties and maximize property density.
• Strong rent collections. Parkit’s rent collections remain resilient through the pandemic as the Company increased its collections for the three months and nine months ended September 30, 2021 up to 100% and 99%, respectively.

Parkit is focused on continuing its shift into industrial real estate by growing its portfolio and maximizing cash flows from its investment properties, while stabilizing its parking operations.

Further Information

For comprehensive disclosure of Parkit’s performance for the three months and nine months ended September 30, 2021 and its financial position as at such date, please see Parkit’s Condensed Consolidated Interim Financial Statements and Management’s Discussion and Analysis for the three months and nine months ended September 30, 2021 filed on SEDAR at www.sedar.com.

Non-IFRS Financial Measures

Management uses both IFRS and non-IFRS Measures to assess the financial and operating performance of the Company’s operations. These non-IFRS Measures are not recognized measures under IFRS, do not have a standardized meaning under IFRS and are unlikely to be comparable to similar measures presented by other companies. The non-IFRS Measures referenced in this news release include the following:

1. Funds from Operations (“FFO“) – is a non-IFRS measure of operating performance as it focuses on cash flow from operating activities. REALPAC is the national industry association dedicated to advancing the long-term vitality of Canada’s real property sector. REALPAC defines FFO as net income (calculated in accordance with IFRS), adjusted for, among other things, depreciation, transaction costs, gains and losses from property dispositions, foreign exchange, as well as other non-cash items, and this is how the Company determines FFO. The Company believes that FFO can be a beneficial measure, when combined with primary IFRS measures, to assist in the evaluation of the Company’s ability to generate cash and evaluate its return on investments as it excludes the effects of real estate amortization and gains and losses from the sale of real estate, all of which are based on historical cost accounting and which may be of limited significance in evaluating current performance.

FFO should not be viewed as an alternative to, in isolation from, or superior to, net income or cash flow from operations, or results from Parkit’s comprehensive operations, respectively, or other measures calculated in accordance with IFRS. FFO should not be interpreted as an indicator of cash generated from operating activities and is not indicative of cash available to fund operating expenditures, or for the payment of cash distributions. FFO is simply an additional measure of operating performance which highlight trends in Parkit’s core business that may not otherwise be apparent when relying solely on IFRS financial measures. Parkit’s management also uses these non-IFRS measures in order to facilitate operating performance comparisons from period to period and to prepare operating budgets. In addition, the Company’s definition of FFO may differ from that of other issuers.

About Parkit Enterprise Inc.

Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+“), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSXV (Symbol: PKT).

For more information, please contact Mr. Steven Scott, Mr. Iqbal Khan or Mr. Carey Chow:

Investor Relations
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

Forward-Looking Information: This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this press release contains forward-looking information in relation to: the Company’s strategy and focus, including a continuing shift into industrial real estate by growing its portfolio of investment properties while stabilizing its parking operations, and also regarding expanding existing properties and acquiring strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal; Parkit’s continued focus on ESG initiatives by prioritizing environmental investments; Parkit’s expectation that parking results will continue to improve as the effects of the pandemic ‎diminish; and Parkit’s continuing advancement of it development properties by maximizing property density.‎ This forward-looking information reflects the Company’s current beliefs and is based on information currently ‎available to the Company and on assumptions the Company believes are reasonable. These assumptions ‎include, but are not limited to: the level of activity in the industrial real estate ‎business and the economy generally; continued consumer interest in the Company’s services and products; the Company’s continued ability to acquire properties that are in-line with its strategic focus, including prioritizing environmental investments; the Company’s continuing ability to grow its portfolio of investment properties; the Company’s past results continuing to be an indicator of future results; the diminishing effects of the COVID-19 pandemic in Canada, the United States, and elsewhere; and the Company’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of the Company’s future operations; competition; changes in legislation, including environmental ‎legislation affecting the Company; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place, social ‎distancing and mandatory vaccination policies, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on the Company which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that the Company offers; and a deterioration of ‎financial markets that could limit the Company’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of Parkit as of the date of this press release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

PARKIT ENTERPRISE INC. (TSXV: PKT) (“Parkit“) is pleased to announce that, further to its August 12, 2021 press release, it has completed the acquisition of a neighbouring industrial property in Toronto, Ontario.

Acquisition of 720 Tapscott Road and Expansion

Parkit acquired 720 Tapscott Road, Toronto (the “Property“) for an aggregate purchase price of $3,600,000 (the “Acquisition“). The Property complements Parkit’s existing platform as it neighbours two of Parkit’s properties, 5600 and 5610 Finch Ave East. With the acquisition of this Property, Parkit now owns a contiguous 14 acre parcel of land. 

Parkit plans to augment its expansion of 5610 Finch Ave East by adding an additional 60,000 plus square feet of rentable industrial space on 5610 Finch Ave East and 720 Tapscott Rd. Upon completion, the total rentable industrial space on these two properties will be at least 175,000 square feet.

On completion of the planned expansions‎ (collectively, the “Expansions“)‎, Parkit will own over 300,000 square feet of industrial space on 14 acres of land on the combined 5600 Finch Ave East, 5610 Finch Ave East and 720 Tapscott Rd properties.

Steven Scott, the Chair of Parkit, stated, “This acquisition is a continuation of our strategy to acquire high-quality industrial properties in the Greater Toronto Area. The property provides a valuable expansion opportunity and optionality in the future.”

Purchase Price and Payment 
The purchase of the Property for $3,600,000, subject to standard adjustments, was satisfied through the issuance of 61,552 common shares in the capital of the Company at a deemed aggregate consideration of $100,000 and $3,500,000 from funds on hand. The common shares issued in connection with the Acquisition will be subject to a hold period of four months and one day following the date of issuance.

About Parkit Enterprise Inc. 
Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+“), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSX Venture Exchange (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott: 

Investor Relations 
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: the planned Expansions, including the forecasted rentable industrial space on completion of the Expansions and the potential effect of the Expansions; and Parkit’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit’s current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the ability to obtain all required permits and approvals for the Expansions; the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in Parkit’s services and products; and Parkit’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability to satisfy the permitting and approval conditions for the Expansions; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of Parkit’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social ‎distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on Parkit which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that Parkit offers; and a deterioration of ‎financial markets that could limit Parkit’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

PARKIT ENTERPRISE INC. (TSXV: PKT) (“Parkit“) is pleased to announce that, further to its August 25, 2021 press release, it has completed the acquisition of a class A industrial property in Ottawa.

Acquisition of Ottawa Property 

Parkit acquired 1151 Parisien St, Ottawa (the “Property“) for an aggregate purchase price of $13,250,000 (the “Acquisition“). The Property is approximately 75,000 square feet of multi-tenanted light industrial space on approximately 4 acres of land. 

Steven Scott, the Chair of Parkit, stated, “The Acquisition adds another urban industrial property with strong cash flows in the growing Ottawa market.”

Purchase Price and Payment 

The purchase of the Property for $13,250,000, subject to standard adjustments, and was satisfied through funds on hand. 

About Parkit Enterprise Inc. 

Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+“), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSX Venture Exchange (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott: 

Investor Relations
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: Parkit’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit’s current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in Parkit’s services and products; and Parkit’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of Parkit’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social ‎distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on Parkit which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that Parkit offers; and a deterioration of ‎financial markets that could limit Parkit’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

TORONTO, Aug. 25, 2021 — PARKIT ENTERPRISE INC. (“Parkit”) (PKT-TSXV) is pleased to announce that it has agreed to acquire a class A industrial property in Ottawa.

Acquisition of Ottawa Property 

Parkit has entered into an asset purchase agreement, with an arms length vendor (the “Vendor”), pursuant to which Parkit has agreed to acquire a property in Ottawa, Ontario (the “Property”) for an aggregate purchase price of $13,250,000, subject to customary adjustments (the “Acquisition”). It is anticipated that the Acquisition will be completed on or before October 15, 2021. The Property is approximately 75,000 square feet of multi-tenanted light industrial space on approximately 4 acres of land. The Property is consistent with our philosophy of focusing on specific geographies.

Steven Scott, the Chair of Parkit, stated, “The Acquisition adds another urban industrial property with strong cash flows in the growing Ottawa market.”

Purchase Price and Payment 

The purchase of the Property for $13,250,000, subject to standard adjustments, will be satisfied through funds on hand.

Conditions Precedent to the Acquisition

The obligations of Parkit to complete the Acquisition is subject to conditions including, but ‎not limited to: satisfactory due diligence and satisfactory environmental site assessment reports. The ‎obligations of both Parkit and the Vendor to complete the closing of the Acquisition are ‎subject to the satisfaction of other customary closing conditions.

Other Information

There can be no assurance that the Acquisition will be completed as proposed or at all. The TSX Venture Exchange has in no way passed upon the merits of the Acquisition and has neither approved nor disapproved the contents of this news release. No new insiders will be created, nor will any change of control occur, as a result of the ‎Acquisition.

About Parkit Enterprise Inc. 

Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+”), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSX Venture Exchange (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott:

Investor Relations 

Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: statements regarding the proposed Acquisition, including the closing and the timing thereof, the method of payment for the proposed Acquisition and the satisfaction of conditions in relation to the proposed Acquisition; and Parkit’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit’s current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the completion of satisfactory due diligence by Parkit in relation to the ‎proposed Acquisition‎; the satisfactory fulfilment of all of the conditions precedent to the proposed ‎Acquisition including satisfactory due diligence‎ and satisfactory ‎environmental site assessment reports‎; the ‎receipt of all required approvals for the proposed Acquisition‎, including any third ‎party consents; market acceptance of the ‎proposed Acquisition‎; the receipt of, and accuracy of the value of, appraisals received for the proposed ‎Acquisition‎; the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in Parkit’s services and products; and Parkit’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of Parkit’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social ‎distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on Parkit which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that Parkit offers; and a deterioration of ‎financial markets that could limit Parkit’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Toronto, Ontario – ‎Parkit Enterprise Inc. (TSXV: PKT) (“Parkit” or the “Company“) reported the Company’s second quarter results. Steven Scott, Chair, commented:

“Parkit continues its transition to a focused industrial real estate platform and makes progress towards expanding existing properties.”

2021 Second Quarter Results and Recent Business Highlights

• Revenues and net rental income. Revenues and net rental income continued to increase as we onboard and integrate additional investment properties. The investment properties revenue for the three months ended June 30, 2021 rose to $1,327,495 compared to nil for the three months July 31, 2020. Net rental income for the three months ended June 30, 2021 rose to $799,573, compared to nil for the three months ended July 31, 2020.
• Significant liquidity position. Cash and cash equivalents were $82,382,652 for the quarter ended June 30, 2021, compared to $696,281 for the quarter ended July 31, 2020.
• Parking operations stabilizing. Parkit’s parking joint ventures reported a profit of $2,400 for the 3 months ended June 30, 2021, compared to a loss of $359,780 for the 3 months ended July 31, 2020. This is the first quarter the results of the joint ventures which have been positive since the beginning of the pandemic. The Company expects the parking results to continue to improve as the effects of the pandemic diminish.
• Loss for the period. The Company had a loss for the three months ended June 30, 2021 of $1,683,768, or a basic and diluted loss per share of $0.01, compared to a loss for the three months ended July 31, 2020 of $506,431, or a basic and diluted loss per share of $0.01. The loss for the quarter ended June 30, 2021 resulted from a one time charge for share-based compensation of $1,667,520, granted to various optionees, valued using the Black-Scholes model.
• Funds from operations (“FFO”) increased for the period. Parkit had positive FFO, a non-IFRS measure‎, of $412,214 for the three months ended June 30, 2021, compared to a loss of $64,743 for the three months ended July 31, 2020.
• Subsequent to the quarter, Parkit completed the acquisition of 415 Legget Dr, Ottawa, ON which has 194,661 square feet of gross leasable area on approximately 18 acres of land. The aggregate purchase price of $24,500,000 was satisfied with funds on hand.
• Continued focus on environmental initiatives. Parkit joinedthe Canada Green Building Council, a leading not-for-profit national environmental organization. Parkit is increasingly prioritizing environmental investments in its capital allocation process, including the possible acquisition and development of green buildings as well as obtaining green certifications in its existing portfolio.

Financial Information

A summary of the results of operations for the three and six months ended June 30, 2021 and the three and six months ended July 31, 2020 are set forth below:

Operational Highlights

Parkit continues to execute on its operational objectives:

• Leasing at elevated rental spreads. Tenants have renewed at market rental rates, >40% over the prior rental rates.
• Low vacancies. Parkit only has vacancies in its development properties and does not have any current vacancy at its investment properties.
• Strong rent collections. Parkit’s rent collections remain resilient through the pandemic as the Company increased its collections for the three months and six months ended June 30, 2021 up to 99% and 98%, respectively.

Parkit is focused on continuing its shift into industrial real estate by growing its portfolio and maximizing cash flows from its investment properties, while stabilizing its parking operations.

Further Information

For comprehensive disclosure of Parkit’s performance for the three months and six months ended June 30, 2021 and its financial position as at such date, please see Parkit’s Condensed Consolidated Interim Financial Statements and Management’s Discussion and Analysis for the three months and six months ended June 30, 2021 filed on SEDAR at www.sedar.com.

Non-IFRS Financial Measures

Management uses both IFRS and non-IFRS Measures to assess the financial and operating performance of the Company’s operations. These non-IFRS Measures are not recognized measures under IFRS, do not have a standardized meaning under IFRS and are unlikely to be comparable to similar measures presented by other companies. The non-IFRS Measures referenced in this news release include the following:

1. Funds from Operations (“FFO“) – is a non-IFRS measure of operating performance as it focuses on cash flow from operating activities. REALPAC is the national industry association dedicated to advancing the long-term vitality of Canada’s real property sector. REALPAC defines FFO as net income (calculated in accordance with IFRS), adjusted for, among other things, depreciation, transaction costs, gains and losses from property dispositions, foreign exchange, as well as other non-cash items, and this is how the Company determines FFO. The Company believes that FFO can be a beneficial measure, when combined with primary IFRS measures, to assist in the evaluation of the Company’s ability to generate cash and evaluate its return on investments as it excludes the effects of real estate amortization and gains and losses from the sale of real estate, all of which are based on historical cost accounting and which may be of limited significance in evaluating current performance.

FFO should not be viewed as an alternative to, in isolation from, or superior to, net income or cash flow from operations, or results from Parkit’s comprehensive operations, respectively, or other measures calculated in accordance with IFRS. FFO should not be interpreted as an indicator of cash generated from operating activities and is not indicative of cash available to fund operating expenditures, or for the payment of cash distributions. FFO is simply an additional measure of operating performance which highlight trends in Parkit’s core business that may not otherwise be apparent when relying solely on IFRS financial measures. Parkit’s management also uses these non-IFRS measures in order to facilitate operating performance comparisons from period to period and to prepare operating budgets. In addition, the Company’s definition of FFO may differ from that of other issuers.

About Parkit Enterprise Inc.

Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+“), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSXV (Symbol: PKT).

For more information, please contact Mr. Steven Scott, Mr. Iqbal Khan or Mr. Carey Chow:

Investor Relations
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

Forward-Looking Information: This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this press release contains forward-looking information in relation to: the Company’s strategy and focus regarding expanding existing properties and acquiring strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal; Parkit’s prioritizing environmental investments including green buildings and green certifications; and Parkit’s expectation that parking results will to continue to improve as the effects of the pandemic ‎diminish.‎ This forward-looking information reflects the Company’s current beliefs and is based on information currently ‎available to the Company and on assumptions the Company believes are reasonable. These assumptions ‎include, but are not limited to: the level of activity in the industrial real estate ‎business and the economy generally; continued consumer interest in the Company’s services and products; the Company’s continued ability to acquire properties that are in-line with its strategic focus, including prioritizing environmental investments; the Company’s past results continuing to be an indicator of future results; the diminishing effects of the COVID-19 pandemic in Canada, the United States, and elsewhere; and the Company’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of the Company’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting the Company; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social ‎distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on the Company which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that the Company offers; and a deterioration of ‎financial markets that could limit the Company’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of Parkit as of the date of this press release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Toronto, Ontario — August 12, 2021 – Parkit Enterprise Inc. (“Parkit” or the “Company”) (TSXV:PKT), is pleased to announce the proposed purchase of a neighbouring industrial real estate asset and that it has filed its articles of continuance to continue Parkit out of the Province of British Columbia and into the Province of Ontario under the provisions of the Business Corporations Act (Ontario) (the “Continuance”).

Industrial Real Estate Acquisition 
Parkit has entered into an asset purchase agreement (the “Purchase Agreement”), with a private company (“Vendor”), pursuant to which Parkit has agreed to acquire 720 Tapscott Rd, Toronto, Ontario (the “Property”) for an aggregate purchase price of $3,600,000, subject to customary adjustments (the “Proposed Acquisition”). The Vendor is not a related party to Parkit and the Proposed Acquisition constitutes an arm’s length transaction for the purposes of the TSX Venture Exchange (“TSXV”) policies. It is anticipated that the Proposed Acquisition will be completed in Q3.

Property and Expansion
720 Tapscott Rd complements Parkit’s existing platform as it neighbours two of the Company’s properties, 5600 and 5610 Finch Ave East. After closing the Proposed Acquisition, Parkit will own a contiguous 14 acre parcel of land. The Company plans to augment its expansion of 5610 Finch Ave East by adding an additional 60,000+ square feet of rentable industrial space on 5610 Finch Ave East and 720 Tapscott Rd. Upon completion, the total rentable industrial space on these two properties will be at least 175,000 square feet.

Post closing of the Proposed Acquisition and completion of the planned expansions, Parkit will own over 300,000 square feet of industrial space on 14 acres of land on the combined 5600, 5610 Finch Ave East and 720 Tapscott Rd properties.

Steven Scott, Chairman, states, “The Tapscott Rd acquisition is a continuation of our strategy to acquire high-quality industrial properties in the Greater Toronto Area. The property provides a valuable expansion opportunity and optionality in the future.”

Purchase Price and Payment 
The purchase of the Property for $3,600,000, subject to standard adjustments, will be satisfied through the issuance of $100,000 of common shares in the capital of the Company and $3,500,000 from funds on hand. The common shares issued in connection with the Proposed Acquisition will be subject to a hold period of four months and one day following the date of issuance.

Conditions Precedent to the Acquisitions
The closing of the Proposed Acquisition is subject to certain conditions including, but not limited to, completion of satisfactory due diligence, satisfactory environmental site assessment reports and acceptance of the TSXV.

Continuance to Ontario
The Continuance to Ontario became effective on July 9, 2021. The Continuance was approved by the shareholders of Parkit at the Annual and Special General Meeting of Shareholders held on April 29, 2021.

No action will be required by existing shareholders with respect to the Continuance.

About Parkit Enterprise Inc. 
Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+”), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSXV (Symbol: PKT).

For more information, please contact Mr. Steven Scott, Mr. Iqbal Khan or Mr. Carey Chow:

Investor Relations 
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information: This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. In particular, this press release contains forward-looking information in relation to: statements regarding the Proposed Acquisition, including the closing and the timing thereof, the issuance of common shares to satisfy a portion of the purchase price and the satisfaction of conditions in relation to the Proposed Acquisition; statements and expansion plans for the Company’s properties; and the Company’s strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects the Company’s current beliefs and is based on information currently ‎available to the Company and on assumptions the Company believes are reasonable. These assumptions ‎include, but are not limited to: the completion of satisfactory due diligence by the Company in relation to the ‎Proposed Acquisition‎; the satisfactory fulfilment of all of the conditions precedent to the Proposed ‎Acquisitions including satisfactory due diligence‎ and satisfactory ‎environmental site assessment reports‎; the ‎receipt of all required approvals for the Proposed Acquisition‎, including TSXV acceptance and any third ‎party consents; the issuance of Parkit common ‎shares as disclosed above as part of the purchase price for the Proposed Acquisition‎; market acceptance of the ‎Proposed Acquisition‎; the receipt of, and accuracy of the value of, appraisals received for the Proposed ‎Acquisition‎; the level of activity in the industrial real estate ‎business and the economy generally; consumer interest in the Company’s services and products; and the Company’s continued response and ability to navigate the ‎COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. ‎Forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual ‎results of the Company’s future operations; competition; changes in legislation, including environmental ‎legislation, affecting the Company; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; ‎risks related to the COVID-19 pandemic including various recommendations, orders and measures of ‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-‎essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social ‎distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on the Company which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that the Company offers; and a deterioration of ‎financial markets that could limit the Company’s ability to obtain external financing. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of Parkit as of the date of this press release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Toronto, Ontario – July 7, 2021 – Parkit Enterprise Inc. (TSXV: PKT) (OTC: PKTEF) (“Parkit” or the “Company“) is pleased to announce that it has completed its previously announced (see press release dated June 28, 2021) arm’s length purchase of 415 Legget Drive, Ottawa, Ontario (the “Property“).

Ottawa Property Purchase

The Property is currently 200,000 square feet of flex and industrial space on approximately 18 acres of land. Along with repositioning the property to take advantage of industrial demand, the Company will look to expand the Property by adding at least 150,000 additional square feet of industrial space (the “Expansion“). 

Steven Scott, the Chair of Parkit, states, “The acquisition adds another urban industrial property in the growing Ottawa market. The Property provides a valuable expansion opportunity and optionality in the future.”

The purchase price of $24,500,000 plus customary closing costs was satisfied through funds on hand. 

About Parkit Enterprise Inc. 

Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ (“GTA+”), Ottawa and Montreal, to complement its parking assets across the United States. Parkit’s Common Shares are listed on TSX-V (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott: 

Investor Relations 
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com

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 release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information: This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, “may” or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this press release contains forward-looking information in relation to: statements as to expansion plans for the Company’s properties. 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. These risks, uncertainties, and factors may include, but are not limited to general business uncertainties, and in particular uncertainties relating to the impact and duration of COVID-19 on future financial performance. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what impacts they will have on the Company. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Parkit’s disclosure documents on the SEDAR website at www.sedar.com. Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of Parkit as of the date of this press release and, accordingly, are subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.