Parkit Completes Sale of Winnipeg Property and Adds To Investment in PROREIT

Executive Summary

• Parkit Enterprise Inc. completed the sale of its remaining Winnipeg property for $5,350,000.
• The transaction included receipt of $2,140,000 in cash and 345,161 PROREIT Trust Units at $6.20 each, raising Parkit's ownership to ~10.4% of PROREIT’s voting units.
• The deal is a non‑arm's length related‑party transaction, triggering an early‑warning filing under Canadian securities law.

Key Details

• Transaction Value: $5,350,000 total consideration (approximately $217 per square foot for 24,665 sq ft building).
• Cash Received: $2,140,000 paid in cash at closing.
• Equity Received: 345,161 PROREIT Trust Units valued at $6.20 per unit ($2,140,000 equivalent).
• Post‑Closing Ownership: Approximately 10.4% of PROREIT Trust Units and special voting units (total 6,980,674 Voting Units).
• Pre‑Closing Ownership: 9.9% of Voting Units (6,635,513 Voting Units).
• Related Party Nature: Non‑arm’s length; Steven Scott, Parkit Chair, serves as a trustee on PROREIT’s board.
• Property Description: One industrial building, 24,665 sq ft gross leasable area, located at 555 Camiel St., Winnipeg, MB.
• Early Warning Disclosure: Parkit will file an early‑warning report on SEDAR+; copies available from CFO upon request.
• Future Intentions (forward‑looking): Parkit may acquire additional PROREIT securities or dispose of existing holdings depending on market conditions.

Notable Quotes

“We are excited to add to our investment in PROREIT and look forward to continue to work with Gord and his team on future opportunities.” – Steven Scott, Chairman, Parkit Enterprise Inc.