Parkit closes Edmonton industrial building acquisition

Mr. Iqbal Khan reports PARKIT ACQUIRES INDUSTRIAL ASSET IN EDMONTON Parkit Enterprise Inc. has completed the acquisition of an industrial building located in Edmonton, Alta., from an arm's-length vendor. The acquisition constitutes an arm's-length transaction for the purposes of the TSX Venture Exchange policies. The property is a multitenant industrial building located in Edmonton. The building has approximately 100,000 square feet of gross leasable area on approximately 5.2 acres of land. The building is fully tenanted with a weighted-average lease term of 3.2 years. Iqbal Khan, chief executive officer of Parkit, stated, "The acquisition provides in-place cash flows, potential rent escalations and allows us to enter the Edmonton market where we see room for growth." About Parkit Enterprise Inc. Parkit Enterprise is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada. In addition, Parkit has parking assets across various markets in the United States. Parkit's common shares are listed on the TSX-V (symbol PKT). We seek Safe Harbor.