Parkit Enterpris - PKTEF STOCK NEWS

Parkit Enterprise (TSXV: PKT) has announced the issuance of 1,588,500 stock options to directors, officers, employees, and consultants. The options are exercisable at $0.60 per share and will expire on the tenth anniversary of issuance. Of the total options granted, 1,125,000 were allocated to directors and officers. The options vested immediately upon grant. The company is utilizing exemptions from formal valuation and minority approval requirements under Multilateral Instrument 61-101 and TSX Venture Exchange Policy 5.9 for this issuance.

Parkit Enterprise (TSXV: PKT) has completed the acquisition of an industrial property at 1650 Comstock Rd, Ottawa, for $9.5 million. The acquired asset features a 140,000 square foot building situated on 2.8 acres of land. The property is currently tenanted and strategically located near Parkit's existing assets. The purchase is being financed through a combination of a first mortgage and available cash reserves. The acquisition aims to strengthen Parkit's Ottawa portfolio while providing strong cash flows and potential rental growth opportunities.

Parkit Enterprise reported Q3 2024 results showing significant growth in multiple areas. Investment properties revenue increased 18% to $6.7M for Q3 and 28% to $19.1M for the nine months ended September 30, 2024. Net rental income grew 19% to $4.5M for Q3 and 35% to $12.8M for the nine-month period. The company renewed 70,491 square feet of leases with a 42% rate increase and signed new leases for 35,728 square feet. Funds from operations (FFO) rose 45% to $1.8M in Q3. Despite these operational improvements, the company reported a net loss of $2.1M for Q3 2024. Parkit maintains a strong liquidity position with over $7.7M in cash and cash equivalents.

Parkit Enterprise Inc. (TSXV: PKT) reported its Q2 2024 results, showing significant growth. Key highlights include:

- Investment properties revenue increased 12% to $6,332,263 for Q2 2024
- Net rental income rose 20% to $4,256,765 for Q2 2024
- Stabilized comparative properties NOI grew 16% to $2,602,549 for Q2 2024
- Funds from operations (FFO) increased 48% to $1,509,102 for Q2 2024

The company maintained a strong liquidity position with over $5.1 million in cash and cash equivalents. Parkit renewed 86,000 square feet of leases at 86% higher rates and signed a new 25,000 square feet lease. The company expects to increase revenue, NRI, and FFO in the upcoming year.

Parkit Enterprise Inc. (TSXV: PKT) reported strong Q1 2024 results with significant increases in investment properties revenue and net rental income. The company's FFO saw a 211% increase, showcasing growth in its core business. Parkit maintained a solid liquidity position with over $11.2 million in cash and cash equivalents. The acquisition of an industrial warehouse in Winnipeg demonstrates the company's commitment to strategic expansions. Parkit's focus on ESG initiatives and market rental spreads highlights its dedication to sustainable growth.

Parkit Enterprise Inc. completes the acquisition of industrial asset in Winnipeg, Manitoba, for $6.3 million, enhancing its portfolio and potential rental growth.

Parkit Enterprise Inc. (PKTEF) has received conditional acceptance from the TSX Venture Exchange to renew its Normal Course Issuer Bid (NCIB) to repurchase up to 11,394,158 common shares over a 12-month period, aiming to enhance shareholder value by leveraging available cash. The repurchase will be executed through the TSX Venture Exchange or alternative trading systems, with National Bank Financial Inc. acting as Parkit's agent. The repurchase price will be based on prevailing market prices, reflecting Parkit's belief that its shares are undervalued.

Parkit Enterprise Inc. reported its full-year 2023 audited results, showcasing significant growth in investment properties revenue, net rental income, and funds from operations. The company saw a substantial increase in revenue and income, with a strong liquidity position and successful acquisitions. Despite a net loss for the period, Parkit remains focused on disciplined acquisitions and revenue growth.

Parkit Enterprise Inc. (PKT) announced the issuance of 2,228,500 options to certain directors, officers, employees, and consultants under its option plan. The options are exercisable into one common share at an exercise price of $0.63 and vested on grant. 1,790,000 options were granted to directors and officers of Parkit. The company relied on exemptions from formal valuation and minority approval requirements for the issuance of these options.