Parkit Receives Favourable $2.1M Court Ruling

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 25, 2013) - Parkit Enterprise Inc. (the "Company") (TSX VENTURE:PKT) is pleased to announce that it has received a ruling from the BC Court of Appeal in determination of the $2.1M pre-payment fee that was sought by Maxam, but refuted by Parkit (please see news from May 13, 2013). The Court allowed Parkit's appeal, thereby removing any obligation to pay the fee.

The refinancing of the Maxam loan is scheduled to close on October 28, 2013.

Parkit wishes to thank Maxam for its long-standing cooperation in the financing of the Canopy parking facility.

About Parkit:

Parkit Enterprise Inc. acquires income-producing commercial real estate with a focus in the parking sector. Parkit built, owns and currently operates a 4,200 stall, LEED Gold certified parking facility at Denver International Airport with our partner Propark America.

www.canopyairportparking.com & www.propark.com

Parkit Intends to acquire, optimize and aggregate a diversified portfolio of parking facilities across North America.

ON BEHALF OF THE BOARD

Rick Baxter, CEO & Director

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.