Parkit Announces Private Placement of Convertible Debentures to Establish Parking Acquisition Fund

Parkit Enterprise Inc. (the "Company") (TSX VENTURE:PKT) - is pleased to
announce a private placement of up to $3 million convertible debentures (a
"Convertible Debenture Offering"). Proceeds will be used to establish a parking
acquisition fund ("PAF") and finance Company infrastructure growth. In the first
quarter of 2014, Parkit expects to launch a PAF limited partnership offering
("LP Offering"), the use of proceeds of which is intended to acquire an
identified portfolio of properties.


The convertible debentures will bear interest at the rate of 8% per annum,
payable quarterly, and will mature two years from the date of issuance (the
"Maturity Date"). The convertible debentures will be convertible on or before
the Maturity Date, at the option of the holder, into common shares of the
Company at a conversion rate of $0.50 per Unit. 


Industrial Alliance Securities will act as lead agent in the Convertible
Debenture Offering and the Limited Partnership Offering.


The Convertible Debenture Offering and PAF LP Offering are subject to necessary
regulatory approvals.


About Parkit:

Parkit Enterprise Inc. acquires income-producing commercial real estate with a
focus in the parking sector. Parkit built, owns and currently operates a 4,200
stall, LEED Gold certified parking facility at Denver International Airport with
our partner Propark America. www.canopyairportparking.com & www.propark.com.


Parkit intends to acquire, optimize and aggregate a diversified portfolio of
parking facilities across North America. 


www.parkitenterprise.com

About Industrial Alliance:

Industrial Alliance Securities Inc. is a full-service investment firm, a member
of IRROC and the Canadian Investor Protection Fund, and a wholly owned
subsidiary of Industrial Alliance Insurance and Financial Services Inc. ("IAG").
Founded in 1892, IAG is a life and health insurance company with operations in
all regions of Canada as well as in the United States. IAG offers a wide range
of life and health insurance products, savings and retirement plans, RRSPs,
mutual and segregated funds, securities, auto and home insurance, mortgage loans
and other financial products and services for both individuals and groups. The
fourth largest life and health insurance company in Canada, Industrial Alliance
contributes to the financial security of over three million Canadians and
employs 4,400 people. With the recent acquisition of Jovian Capital Corporation
on October 1st, IAG now manages and administers about $95 billion in assets.
Industrial Alliance stock is listed on the Toronto Stock Exchange under the
ticker symbol IAG.


ON BEHALF OF THE BOARD 

President and CEO, Parkit Enterprise Inc.

Neither the 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 news 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. 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. 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 the Company will obtain from them. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Parkit Enterprise Inc.
John LaGourgue
[phone]
[e-mail]
www.parkitenterprise.com


Parkit Enterprise Inc.
Suite 1088 - 999 West Hastings Street
Vancouver, British Columbia
Canada V6C 2W2