|Bid||0.00000 x 0|
|Ask||0.00000 x 0|
|Day's Range||0.2125 - 0.2256|
|52 Week Range||0.1820 - 0.2960|
|Beta (3Y Monthly)||0.73|
|PE Ratio (TTM)||28.20|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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 (PKT.V) and on the OTCQX (PKTEF).
OTCQX: PKTEF) (the "Company" or "Parkit") is pleased to announce the closing of its rights offering (the "Rights Offering") announced on November 7, 2018 . A total of $718,270.55 was raised in the Rights Offering. Parkit intends to use the proceeds of the Rights Offering for identification and evaluation of new projects.
OTCQX: PKTEF) (the "Company" or "Parkit") announced today that, in conjunction with the closing of its previously announced rights offering which is scheduled to close on December 14, 2018 , it intends to complete a non-brokered private placement of up to Cdn$312,500 of common shares at a price of Cdn$0.29 per share (the same price at which shares may be purchased under the rights offering). The principal purpose for the private placement is to enable Leonite Capital LLC (a U.S. entity controlled by Avi Geller , an officer and director of the Company) to satisfy its commitment to purchase Cdn$250,000 pursuant to its standby commitment under the rights offering.
OTCQX: PKTEF) is pleased to announce that it has appointed Avi Geller as interim Chief Executive Officer of the Company. Avi will work with David Delaney , Executive Chairman, to source new investments, monetize the existing portfolio of assets, and oversee the general affairs of the business. The Board of Directors is excited to welcome Avi, a major shareholder, to this position at the Company. The Company is committed to harvesting the value within its existing portfolio and to redeploying its capital into new investments. Since the formation of the new board of directors, the Company has reviewed an increased number of potential acquisitions.
OTCQX: PKTEF) announces that one of the single purpose entities held by OP Holdings JV LLC (the "Joint Venture") is under a purchase and sale contract. The Company is awaiting confirmation from the Joint Venture of the closing of the transaction. The property owned by the single purpose entity was bought by the Joint Venture in 2015 (consisting of an equity investment of US $7 million), and is under contract to be sold for approximately US $36.1 million. When including the income received from the property over the period of the investment, the sale should represent an estimated levered IRR of approximately 42% to the Joint Venture.
The Company would like to thank its shareholders for their participation in the Meeting. The Company would also like to welcome Brad Miller to the board of directors. Mr. Miller is President and owner of the AdvanTec Global Innovations group of companies specializing in marine and industrial manufacturing with a focus on clean tech manufacturing. Under the direction of the newly constituted board of directors, consisting of Brad Miller, Elie Norowitz, Brad Dunkley, David Delaney and Avi Geller, the Company intends to aggressively pursue acquisitions in the parking related real estate space and increase its asset base.
OTCQX: PKTEF) announces that one of the single purpose entities held by OP Holdings JV LLC (the "Joint Venture") has sold Terra Park, its parking facility located in Jacksonville, Florida. Terra Park was bought by the Joint Venture in 2015 for US$6.4 million (consisting of an equity investment of US $2.4 million), and was sold for US $6.83 million plus an additional sum of US $750,000 paid in equal monthly installments over one year. When including the income received from the property over the period the investment was held, the sale represents an estimated levered IRR of approximately 24% to the Joint Venture.
OTCQX: PKTEF) is pleased to announce that it has purchased the operating assets of Smart Parking Solutions Canada Inc.("Smartpark") and employed its principals, Steve Strauss and Avi Minkowitz , all effective July 1, 2018 . Smartpark is engaged in the parking management business and this strategic acquisition both expands Parkit's footprint and provides additional expertise to source and acquire parking assets. The purchase includes 5 parking management agreements in the Greater Toronto Area , as well as 10 permit management agreements with municipal and institutional clients in the United States including the City of Aspen CO , Arlington County VA and the Durham NH Police Department.
OTCQX:PKTEF) is pleased to announce that it has increased the size of its board of directors from five to six and that it has appointed Elie Norowitz to fill the additional seat. Elie Norowitz : Mr. Norowitz is the Vice President of Finance at Turnbridge Equities, a New York City based, privately-held full service real estate investment and development firm. Prior thereto, Mr. Norowitz was the Controller for 54 Madison Partners, a New York City based real estate private equity investment vehicle, where he was responsible for all finance, operations, and accounting functions for their real estate fund and properties.
VANCOUVER , May 31, 2018 /CNW/ - Parkit Enterprise Inc. ("Parkit" or the "Company") (PKT.V) (PKTEF) announces that Joel Dumaresq and David Mullen have both resigned from the Company's Board of Directors (the "Board") effective May 29, 2018 in order to create vacancies for the appointment of two persons nominated by a group of the Company's shareholders led by Leonite Capital LLC. Mr. Dumaresq has been a non-executive director of the Company and a member of the Audit Committee since January 2015 , and Chairman of the Board since May 2015 .