Parkit proposes share consolidation

Toronto, Ontario--(Newsfile Corp. - June 17, 2026) - Parkit Enterprise Inc.  (TSXV: PKT)   ("Parkit" or the "Company") , announced today that the Board of Directors have approved a consolidation of its share capital on the basis of one (1) new common share for every existing fifteen (15) common shares (the " Consolidation "), subject to regulatory approval, including approval of the TSX Venture Exchange. Effective on or about June 22, 2026, Parkit will complete the Consolidation. Where the exchange results in a fractional share, the number of common shares will be ‎rounded up to the next greater whole number of common shares if the fractional entitlement is equal to or greater than 0.5 and shall, without any additional compensation, be rounded down to the next lesser whole number of common shares if the fractional entitlement is less than 0.5 and, in calculating such fractional interests, all common shares registered in the name of and held by such shareholder shall be aggregated.

Management believes the Consolidation should enhance the marketability of the common shares as an investment and will facilitate additional financings to fund future operations. A new CUSIP number of 70137X403 replaces the old CUSIP number of 70137X106 to distinguish between the pre- and post- consolidated shares. The Company's name and trading symbol will remain unchanged.

Letters of transmittal will be mailed to all registered shareholders holding physical share certificates with instructions on how to exchange existing share certificate(s) for new share certificate(s). A letter of transmittal will also be available on the Company's profile on SEDAR+. Holders of common shares who hold uncertificated shares (including shares held through a brokerage account and/or not represented by a physical share certificate), will have their holdings electronically adjusted by the Company's transfer agent or by their brokerage firms, banks, trust or other nominees.

Such holders do not need to take any additional actions to exchange their pre-Consolidation shares for post-Consolidation shares. Commencing at the opening of trading on or about June 22, 2026, the common shares of the Company will trade on a post-Consolidation basis on the TSX Venture Exchange. Following the Consolidation, there are expected to be 13,832,192 post-Consolidation shares outstanding.

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 of America. Parkit's Common Shares are listed on TSXV (Symbol: PKT).

For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott: Investor Relations Contact Number: 1-888-627-9881 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.‎ Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: the proposed Consolidation, including the anticipated benefits of the Consolidation.

This forward-looking information reflects Parkit's current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reasonable. These assumptions ‎include, but are not limited to: the ‎underlying value of Parkit and its common shares; TSX Venture Exchange approval of the Consolidation; the level of activity in the industrial real estate business and the economy generally; continued consumer interest in Parkit's services and products; Parkit's continued ability to ‎acquire properties that are in-line with its strategic focus, including prioritizing environmental investments; ‎Parkit's continuing ability to grow its portfolio of investment properties; and Parkit's past results ‎continuing to be an indicator of future results. ‎Forward-looking information is subject to known and unknown risks and uncertainties that may cause the actual results, performance or developments to differ materially from those contained in or implied by such forward-looking information. These risks, uncertainties, and factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions ‎and market prices for securities; delay or failure to receive board of directors, third party or regulatory approvals; the actual ‎results of Parkit's future operations; competition; changes in legislation, including environmental ‎legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; ‎conclusions of economic evaluations and appraisals; the lack of qualified, skilled labour or loss of key individuals; and the impact that the imposition of trade tariffs, particularly from the United States, may have on the global economy, and the economy in Canada in particular.

A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Parkit's disclosure documents on the SEDAR+ website at www.sedarplus.ca. ‎Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of risks, uncertainties and factors is not exhaustive. Accordingly, readers should not place undue reliance on forward-looking information.

Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement.

The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, is subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301874 Newsfile Corp. June 17, 2026 - 8:17 AM PDT News by QuoteMedia www.quotemedia.com