Parkit Enterprise Inc.
TSX VENTURE : PKT
OTCQX : PKTEF

Parkit Enterprise Inc.

March 31, 2015 08:00 ET

Parkit Announces Record Profit for Q1 2015

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 31, 2015) - Parkit Enterprise Inc. ("Parkit," or "the Company") (TSX VENTURE:PKT)(OTCQX:PKTEF) is pleased to announce its financial and operational results for the quarter ended January 31, 2015.

Highlights of the Quarter:

  • Company achieves record profit of $272,000 (Q1 2014 loss of $753,000).
  • Record Q1 revenues of $2.8 million. This is an increase of 38% compared to Q1 last year.
  • Canopy asset trailing twelve month NOI up 55% over January 31, 2014.
  • Expresso asset trailing twelve month NOI up 21% over January 31, 2014.
  • Net assets increased to $1.7 million ($0.8 million as at October 31, 2014).

"These results have been achieved through execution of our strategy to acquire and optimize high performance assets, as well as continued control of our corporate cost structure," stated Rick Baxter, the Company's chief executive officer.

Please refer to Parkit's Interim Financial Statements and Management's Discussion and Analysis at www.sedar.com for detailed financial information and analysis.

ABOUT PARKIT

Parkit Enterprise Inc. is an alternative real estate investment firm focused on income-producing parking facilities in the United States. www.parkitenterprise.com

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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 news release.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.

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