Business
Parkit Completes Acquisition of Ottawa Property
Toronto, Ontario--(Newsfile Corp. - October 6, 2021) - PARKIT ENTERPRISE INC.  ( TSXV:&#...
About this update from Parkit Enterprise Inc.
[{"type":"text","content":"Parkit Completes Acquisition of Ottawa PropertyToronto, Ontario--(Newsfile Corp. - October 6, 2021) - PARKIT ENTERPRISE INC. (TSXV: PKT) (\"Parkit\") is pleased to announce that, further to its August 25, 2021 press release, it has completed the acquisition of a class A industrial property in Ottawa.Acquisition of Ottawa Property Parkit acquired 1151 Parisien St, Ottawa (the \"Property\") for an aggregate purchase price of $13,250,000 (the \"Acquisition\"). The Property is approximately 75,000 square feet of multi-tenanted light industrial space on approximately 4 acres of land. Steven Scott, the Chair of Parkit, stated, \"The Acquisition adds another urban industrial property with strong cash flows in the growing Ottawa market.\"Purchase Price and Payment The purchase of the Property for $13,250,000, subject to standard adjustments, and was satisfied through funds on hand. 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 markets in Canada, with a focus on the Greater Toronto Area+ (\"GTA+\"), Ottawa and Montreal, to complement its parking assets across the United States. Parkit's Common Shares are listed on TSX Venture Exchange (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: Parkit's strategy and focus regarding acquiring high-quality and strategically located industrial properties with a focus on the ‎GTA+, Ottawa and Montreal. This forward-looking information reflects Parkit's current beliefs and is based on information currently ‎available to Parkit and on assumptions Parkit believes are reas...