Parkit Enterprise Inc. (TSXV:PKT) agreed to acquire Class A Industrial Asset in London, Ontario on January 4, 2022. In a related transaction, Parkit Enterprise agreed to acquire Class A Industrial Asset in Boisbriand, Quebec. The aggregate purchase price for the acquisitions is CAD 17 million, subject to adjustments, and is payable by the issuance of up to approximately CAD 2.5 million of Parkit common shares for one of the assets with the remainder of the aggregate purchase price being paid with funds on hand and mortgage assumption.

The common shares issued in connection with the Acquisition will be subject to a hold period of four months and one day following the date of issuance. The transaction is subject to conditions including, but not limited to: satisfactory due diligence and satisfactory environmental site assessment reports. The obligations of both Parkit and the Vendors to complete the closing of the acquisitions are subject to the satisfaction of other customary closing conditions and include, for one of the Acquisitions, acceptance of the TSX Venture Exchange.

The transaction is expected to close in first quarter of 2022.