Business
Parkit Acquires the Remaining 50% Interest in its Nashville, TN, Parking Asset
Toronto, Ontario--(Newsfile Corp. - May 2, 2023) - Parkit Enterprise Inc.  (TSXV: PKT)
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About this update from Parkit Enterprise Inc.
[{"type":"text","content":"Parkit Acquires the Remaining 50% Interest in its Nashville, TN, Parking AssetToronto, Ontario--(Newsfile Corp. - May 2, 2023) - Parkit Enterprise Inc. (TSXV: PKT) (\"Parkit\"), is pleased to announce that it has completed the acquisition of the remaining 50% interest in Fly Away Airport Parking in Nashville Tennessee from an arm's length vendor (the \"Vendor\") for an aggregate purchase price of $3,550,000 USD, subject to customary adjustments (the \"Acquisition\"). With this Acquisition, Parkit now owns 100% of Fly Away Airport Parking.Fly Away Airport ParkingFly Away Airport Parking is an off airport parking lot located by the Nashville International Airport with 1,204 parking spaces on 8.5 acres of land. Purchase Price and PaymentThe purchase price for the Acquisition is $3,550,000 USD, subject to customary adjustments, and was paid with funds on hand.Iqbal Khan, CEO of Parkit, states, \"The Acquisition provides Parkit full control over the future opportunities of the asset.\"About Parkit Enterprise Inc. Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada which complements its parking assets across the United States. Parkit's Common Shares are listed on TSX-V (Symbol: PKT).For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott: Investor RelationsContact Number: 1-888-627-9881Email: [email protected] 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 is forward-looking information. In particular, this news release contains forward-looking information in relation to: the potential effect on Parkit of the completion of the Acquisition including its effect on cash flows, future opportunities and growth; and Parkit's focus regarding the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada. This forward-looking informati...