VANCOUVER, May 23, 2019 /CNW/ - Parkit Enterprise Inc.
("Parkit" or the "Company") (TSXV: PKT; OTCQX: PKTEF)
is pleased to announce that it has received a payment of CAD
$655,140 (USD $487,854) from OP Holdings JV, LLC (the "Joint
Venture"). This payment is Parkit's effective 24.39% net
share of a USD $2,000,000
distribution from the Joint Venture. The payment resulted
from the release of operating cash flow from the Joint Venture.
For more information on the Joint Venture and the priority of
future payments, please refer to the OP Holdings JV, LLC limited
liability company agreement posted to the Company's SEDAR profile
on April 23, 2018.
For further information on the Company please see the Company's
financial statements and related management's discussion and
analysis for the year ended October 31,
2018 and the three month period ended January 31, 2019 available under the Company's
profile on www.sedar.com.
About PARKIT
Parkit Enterprise Inc. is engaged in the acquisition,
optimization and asset management of income producing parking
facilities across the United
States and Canada. The
Company's shares are listed on TSX-V (Symbol: PKT) and on the OTCQX
(Symbol: 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 contained in this news release constitute
forward-looking information under applicable securities law. These
statements relate to future events or future performance, including
statements as to: the Company's belief regarding anticipated
distributions from the Joint Venture. Such statements are not
guarantees of future performance and actual results or developments
may differ materially from those expressed in, or implied by, this
forward-looking information. Factors that could cause actual
results to differ materially from those in forward-looking
statements include such matters as the operations of the Joint
Venture and its ability to complete asset sales and refinancings.
Any forward-looking statements are expressly qualified in their
entirety by this cautionary statement. The information contained
herein is stated as of the current date and subject to change after
that date and the Company does not undertake any obligation to
update publicly or to revise any of the forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/parkit-announces-payment-of-cad-655-140-from-op-holdings-jv-llc-300856218.html
SOURCE Parkit Enterprise Inc.
