Parkit Enterprise Inc.
TSX VENTURE : PKT
OTCQX : PKTEF

Parkit Enterprise Inc.

June 06, 2016 17:01 ET

Parkit Enterprise Inc. Changes Annual Meeting Date

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 6, 2016) - Parkit Enterprise Inc. ("Parkit" or "the Company") (TSX VENTURE:PKT)(OTCQX:PKTEF) announced today that the scheduled annual general meeting (the "AGM") of Parkit has been changed from June 21, 2016 to July 26, 2016 and the record date for the AGM has been changed from May 9, 2016 to June 9, 2016.

The board of directors of the Company (the "Board") has determined that it is in the best interests of the Company to change the AGM date in order to allow time to fully consider the dissident circular sent by the group of dissident officers led by Richard Baxter (the "Suspended Officers") and re-issue a management information circular. It is important that the Company take the time for all shareholders to have sufficient information to make an informed decision regarding their investment and the future of Parkit.

Shareholders will receive a new management information circular, which will provide shareholders with additional background of the events that gave rise to recent actions of the Suspended Officers, set out the Board's views on the proposals being made by the Suspended Officers, remove Mr. Baxter as a proposed nominee to the Board and propose a decrease in the size of the Board from six members to five members.

In addition, it has come to the Board's attention that the Company's management information circular was, at the direction of the Suspended Officers, only mailed to a small number of shareholders as compared to the dissident proxy circular prepared by the Suspended Officers, which was more broadly disseminated. The Company intends to mail the management information circular to all shareholders, which will enable all shareholders to be informed and participate in the determination of the outcome at this critical AGM.

About PARKIT

Parkit Enterprise Inc. is engaged in the acquisition, optimization and asset managementof income producing parking facilities across the United States. The Company's shares are listed on (TSX VENTURE:PKT) and on the (OTCQX:PKTEF).

Neither 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.

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.

Contact Information

  • Parkit Enterprise Inc.
    Joel Dumaresq
    Chairman of the Board
    604-336-3193
    joel@pashleth.com