Mr. Rick Baxter reports

PARKIT REPORTS RECORD REVENUES FOR FULL YEAR 2014

Parkit Enterprise Inc. has released its financial and operational results for the full fiscal year ended Oct. 31, 2014.

Highlights of the 2014 fiscal year:

• Revenues of $9.8-million (U.S.), a 28-per-cent increase over the prior year;
• Record profit from operations of $1.2-million (U.S.), versus a loss of $300,000 (U.S.) the prior year;
• Refinanced Canopy airport parking facility, the company's flagship asset in Denver, Colo.;
• Repaid debt, deleveraged the balance sheet and significantly improved the company's financial position;
• Received first cash distributions from investment in Canopy;
• Invested $5.5-million (U.S.) in a joint venture acquisition of the Expresso airport parking facility in Oakland, Calif.

Accelerated transformation toward 2015 ambition

"Two thousand fourteen has been a dynamic year for Parkit," stated Rick Baxter, the company's chief executive officer. We refinanced Canopy, deleveraged the balance sheet, acquired a new cornerstone asset and accelerated the business plan. We now have a solid footing for the expected launch of our new joint venture. Parkit will grow earnings through a combination of accretive acquisitions, yield optimization and capital appreciation.

"The objective for 2015 is to crystalize gains in equity and reinvest alongside institutional capital in a new joint venture that will target $500-million in asset value under an aggressive acquisition plan. We're pleased by our achievements to date and excited for our near-term prospects."

Please refer to Parkit's consolidated financial statements, and management's discussion and analysis on SEDAR for detailed financial information and analysis.

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