PARKS! AMERICA INC - PRKA STOCK NEWS

Parks! America, Inc. (PRKA) has filed its preliminary proxy statement with the SEC for its Special Meeting of Stockholders on February 26, 2024. The company urges stockholders to wait for the definitive proxy statement and WHITE Proxy Card before voting. An open letter to Focused Compounding was also issued, emphasizing the CEO's focus on maximizing value and building a stronger operational and financial foundation.

Parks! America, Inc. (PRKA) announced the adoption of a limited duration shareholder rights plan to protect shareholders' interests and maximize value. The plan aims to prevent any person or group from gaining control of the company without negotiating with the Board and paying an appropriate control premium to all shareholders. Each outstanding share of the Company’s common stock will receive one right under the plan, which becomes exercisable if a person or group acquires beneficial ownership of 10% or more of the Company’s outstanding common stock.

Parks! America, Inc. (PRKA) announces its 2024 Annual Meeting of Shareholders to be held virtually on June 6, 2024, along with an Investor Day at Wild Animal Safari. The company's CEO, Lisa Brady, highlights progress made in 2023, despite challenges including a tornado damaging a revenue-generating property. The company aims to focus on corporate governance, communications, and investor relations to drive future growth.

Parks! America, Inc. (PRKA) received a notice from Focused Compounding Fund, LP demanding a special meeting of shareholders to vote on proposals for the removal of directors and the election of a new Board of Directors. The proposed changes would result in an implicit takeover of the company by a shareholder without offering a premium to other shareholders. The company has empaneled a Special Committee to address issues related to the Special Meeting to ensure actions taken are in the best interests of the company and all its shareholders. Management and the Board of Directors remain committed to maintaining constructive dialogue and engagement with all shareholders.

Parks! America, Inc. (PRKA) reported a decrease in total revenues for fiscal 2023, with a positive EBITDA of $1.2 million despite a $1.0 million loss due to a tornado event at their Georgia Park. The company remains focused on near-term growth and long-term inorganic expansion.

Park revenues in Q3 decreased by 4% on a pro forma basis, after adjusting for the revenue impact of the tornado at the Georgia Park. The majority of the Walk

Parks! America announced plans for significant capital investments across its animal safari theme parks in 2023 to enhance animal education and conservation. New exhibits will open at Pine Mountain in April, including an expanded aviary and a ring-tailed lemur exhibit. Springfield will introduce an Asian small-clawed otter exhibit in March, while Aggieland will add two new exhibits and a restaurant in spring 2023. These developments aim to provide guests with memorable experiences.

Parks! America, Inc. (OTCPink: PRKA) reported its first fiscal quarter results for 2023, showing total net sales of $1.86 million, a 4.3% decline year-over-year. Despite lower attendance impacting sales by 6.4%, the company achieved an EBITDA of $92,360, reflecting a significant increase of $380,529 from the prior year. The net loss narrowed to $152,960, from $421,940 a year prior, driven by reduced SG&A expenses. Looking forward, attendance-based net sales are trending positively, with nearly 20% growth in the first six weeks of the second quarter.