Parkit Enterprise Announces Sale of Riccio Lot

Vancouver, British Columbia -- December 7, 2020 - PARKIT ENTERPRISE INC. (TSXV: PKT) (OTC: PKTEF)

PARKIT ENTERPRISE INC. (TSXV: PKT) (OTC: PKTEF) ("Parkit" or the "Company") today announced that the Riccio parking lot in Connecticut, USA, which was held within the OP Holdings Joint Venture, has been disposed of at a price of USD $4,550,000. Parkit's share of the proceeds is approximately USD $2,000,000 with such funds remaining in the joint venture. 

About PARKIT
Parkit Enterprise Inc. is engaged in the acquisition, optimization and asset management of income producing parking facilities and industrial real estate across the United States and Canada. Parkit's Common Shares are listed on TSX-V (TSXV: PKT) and on the OTC (OTC: PKTEF).

For more information please contact:

Avi Geller
Interim Chief Executive Officer
Tel. (845) 517-2340
Email: ir@parkitenterprise.com

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 release.

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