Parkit Acquires Industrial Asset in Edmonton

Rhea-AI Summary

Parkit Enterprise (TSXV: PKT) has completed the acquisition of an industrial property in Edmonton, Alberta from an arm's length vendor. The acquired property is a fully-leased multi-tenant industrial building featuring approximately 100,000 square feet of gross leasable area situated on 5.2 acres of land.

The property maintains a weighted average lease term of 3.2 years. According to CEO Iqbal Khan, this strategic acquisition provides immediate cash flows, potential for rent increases, and marks Parkit's entry into the Edmonton market, where the company sees growth opportunities.

Positive

• 100% occupancy rate in the acquired property
• Immediate cash flow generation from existing tenants
• Strategic entry into the Edmonton market
• Potential for future rent escalations
• Sizeable 100,000 sq ft property on 5.2 acres

Negative

• Relatively short weighted average lease term of 3.2 years
• Acquisition price not disclosed

Toronto, Ontario--(Newsfile Corp. - August 6, 2025) - Parkit Enterprise Inc. (TSXV: PKT) ("Parkit"), is pleased to announce that it has completed the acquisition (the "Acquisition") of an industrial building located in Edmonton, Alberta (the "Property") from an arm's length vendor (the "Vendor"). The Acquisition constitutes an Arm's Length Transaction for the purposes of the TSX Venture Exchange policies.

The Property is a multi-tenant 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, CEO of Parkit, states, "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 of America. Parkit's Common Shares are listed on the 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.

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 are forward-looking information. In particular, this news release contains forward-looking information in relation to: statements regarding the Acquisition; the potential effect on Parkit of the completion of the Acquisition including its effect on rental escalations; the growth of the industrial real estate market in Edmonton; and Parkit's focus on the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada. 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: market acceptance of the‎ Acquisition‎; the receipt of, and accuracy of the value of, appraisals received for the ‎Acquisition; the level of activity in the industrial real estate ‎business and the economy generally; continued consumer interest in Parkit's services and products; Parkit's continued ability to ‎acquire properties that are in-line with Parkit's focus; and ‎Parkit's continuing ability to grow its portfolio of investment properties‎. ‎Forward-looking information is subject to known and unknown risks and uncertainties that may cause the actual results, performance or developments to differ materially from those contained in or implied by 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 board of directors, 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; the lack of qualified, skilled labour or loss of key individuals; and the impact that the imposition of trade tariffs, particularly from the United States, may have on the global economy, and the economy in Canada in particular. 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.sedarplus.ca. ‎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. Readers are cautioned that the foregoing list of risks, uncertainties and factors is not exhaustive. 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, is 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261577

FAQ

What property did Parkit Enterprise (TSXV: PKT) acquire in Edmonton?

Parkit acquired a 100,000 square foot multi-tenant industrial building situated on 5.2 acres of land in Edmonton, Alberta.

What is the occupancy rate and lease term of Parkit's new Edmonton property?

The property is 100% occupied with a weighted average lease term of 3.2 years.

Why did Parkit acquire the Edmonton industrial property?

Parkit acquired the property to gain immediate cash flows, capitalize on potential rent escalations, and enter the Edmonton market where they see growth opportunities.

Who is the CEO of Parkit Enterprise and what did they say about the Edmonton acquisition?

Iqbal Khan, CEO of Parkit, stated that the acquisition provides in-place cash flows, potential rent escalations, and allows entry into the Edmonton market where they see room for growth.

What type of transaction was the Parkit Edmonton property acquisition?

The acquisition was an Arm's Length Transaction as defined by TSX Venture Exchange policies, completed with an arm's length vendor.