Ms. Odette has worked closely with Mr. Kirkwood and Parkit's management team over the last 14 months, facilitating a smooth transition of operations, management and financial reporting following the termination of the former management team in 2016.

Bryan Wallner, Parkit's Chief Executive Officer, commented "We are grateful to Nigel for his leadership and contribution that he has made since stepping in as CFO under challenging circumstances, and wish him continued success as he embarks on his new role. We are fortunate to have JoAnne to replace him and we are confident that her appointment will lead to a seamless transition."

About PARKIT

Parkit Enterprise Inc. is engaged in the acquisition, optimization and asset management of income producing parking facilities across North America. 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 in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this press release include those concerning the Company's anticipation of another smooth transition and that the Company is well positioned to move forward with strong stewardship. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the risks disclosed in the Company's public filings on SEDAR. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits, if any, the Company might obtain from them.