Toronto, Ontario--(Newsfile Corp. - December 18, 2025) - Parkit Enterprise Inc. (TSXV: PKT) ("Parkit" or the "Company"), has completed the sale of its remaining property located in Winnipeg, Manitoba (the "Property") to PRO Real Estate Investment Trust (TSX: PRV.UN) ("PROREIT") for proceeds of $5,350,000, subject to customary adjustments (the "Transaction"). Parkit received $2,140,000 of the proceeds in the form of 345,161 trust units of PROREIT ("Trust Units") priced at $6.20 per Trust Unit. Post closing, Parkit owns in aggregate approximately 10.4% of the Trust Units and the special voting units of PROREIT. The Transaction constitutes a non-arm's length transaction for the purposes of the policies of the TSX Venture Exchange ("TSXV"), as Steven Scott, the Chair of the board of directors of Parkit, is a trustee on PROREIT's board of trustees.
Property and Sale Price
The Property is one building with 24,665 square feet of gross leasable area located at 555 Camiel Sys, Winnipeg, MB. The sale price for the Transaction is $5,350,000 or $217 per square foot, subject to adjustments.
Steven Scott, Chairman of Parkit's board, stated, "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."
Early Warning Disclosure
As a result of the completion of the Transaction, the Company beneficially owns and has control of 4,305,674 Trust Units and 2,675,000 Class B LP Units of PRO REIT Limited Partnership (a subsidiary of PROREIT) ("Class B Units"). Each Class B Unit is exchangeable for one Trust Unit and is attached to a special voting unit of PROREIT providing for a voting right in PROREIT. Parkit now owns and controls approximately 10.4% of the issued and outstanding Trust Units and the special voting units of PROREIT (collectively, the "Voting Units") for a total of 6,980,674 Voting Units of PROREIT. Prior to the completion of the Transaction, Parkit owned 3,960,513 Trust Units and 2,675,000 Class B Units, and collectively, 6,635,513 Voting Units, representing in aggregate approximately 9.9% of the issued and outstanding Voting Units. The Company has a long-term view of its investment in PROREIT and may acquire additional securities of PROREIT including on the open market or through private acquisitions or may sell the securities including on the open market or through private dispositions in the future depending on market conditions and other relevant factors.
Parkit will file an early warning report which will appear on PROREIT's filings on SEDAR+. A copy of the early warning report referenced above may be obtained upon request from Parkit's Chief Financial Officer at the number referenced below. Parkit is incorporated in Ontario and its head office is located at 100 Canadian Road, Toronto, Ontario M1R 4Z5. The disclosure in this press release under the heading "Early Warning Disclosure" has been issued under the early warning provisions of applicable Canadian securities legislation.
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 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: potential future opportunities with PROREIT; potential future acquisitions or sales of PROREIT securities by Parkit; 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: the receipt of final TSXV approval for the Transaction market acceptance of the Transaction; 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 its strategic focus, including prioritizing environmental investments; Parkit's continuing ability to grow its portfolio of investment properties; and Parkit's past results continuing to be an indicator of future results. 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; 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.
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Source: Parkit Enterprise Inc.
