Mr. Carey Chow reports

PARKIT ANNOUNCES NORMAL COURSE ISSUER BID

Parkit Enterprise Inc. has received conditional acceptance from the TSX Venture Exchange to renew its normal course issuer bid (NCIB) to purchase for cancellation, during the 12-month period starting March 28, 2024, up to 11,394,158 of the outstanding common shares of the corporation, representing 5 per cent of the common shares outstanding. The program will end on March 27, 2025, unless the maximum amount of common shares is purchased before then or Parkit provides earlier notice of termination.

The purchase and payment for the common shares will be made by Parkit through the facilities of the TSX Venture Exchange or alternative trading systems. National Bank Financial Inc. has been selected as Parkit's agent for the NCIB. The price paid for the common shares will be, subject to NCIB pricing rules contained in securities laws, the prevailing market price of such common shares on the TSX Venture Exchange at the time of such purchase. Parkit intends to finance the purchases out of available cash.

Parkit believes that the market price of its common shares may not reflect their underlying value and the board of directors has authorized this initiative because, in the board's opinion, the proposed purchase of common shares pursuant to the NCIB constitutes an appropriate use of Parkit's funds, and the repurchase of its common shares is one way of creating shareholder value.

To the knowledge of Parkit, no director, senior officer or other insider of the Parkit currently intends to sell any common shares under the NCIB. However, sales by such persons through the facilities of the TSX Venture Exchange may occur if the personal circumstances of any such person changes or any such person makes a decision unrelated to these NCIB purchases. The benefits to any such person whose common shares are purchased would be the same as the benefits available to all other holders whose common shares are purchased.

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. Parkit's common shares are listed on TSX-V (symbol: PKT).

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