Parkit Announces Grant of Options

Rhea-AI Summary

Parkit Enterprise Inc. (PKT) announced the issuance of 2,228,500 options to certain directors, officers, employees, and consultants under its option plan. The options are exercisable into one common share at an exercise price of $0.63 and vested on grant. 1,790,000 options were granted to directors and officers of Parkit. The company relied on exemptions from formal valuation and minority approval requirements for the issuance of these options.

Toronto, Ontario--(Newsfile Corp. - December 29, 2023) - Parkit Enterprise Inc. (TSXV: PKT) ("Parkit") announced today that certain directors, officers, employees and consultants have been issued an aggregate of 2,228,500 options pursuant to Parkit's option plan, with each such option being exercisable into one common share at an exercise price of $0.63 at any time on or before the tenth anniversary of its issuance. Each of the options vested on grant.

Of the options granted above, 1,790,000 options were granted to directors and officers of Parkit. Parkit 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 Enterprise is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/192773

FAQ

How many options were issued by Parkit Enterprise Inc. (PKT)?

Parkit Enterprise Inc. (PKT) announced the issuance of 2,228,500 options to certain directors, officers, employees, and consultants under its option plan.

What is the exercise price of the options issued by Parkit Enterprise Inc. (PKT)?

The exercise price of the options issued by Parkit Enterprise Inc. (PKT) is $0.63.

Who were the options granted to by Parkit Enterprise Inc. (PKT)?

1,790,000 options were granted to directors and officers of Parkit Enterprise Inc. (PKT).

What exemptions did Parkit Enterprise Inc. (PKT) rely on for the issuance of options?

Parkit Enterprise Inc. (PKT) relied on exemptions from formal valuation and minority approval requirements for the issuance of these options.