Parkit Closes US$16,500,000 Refinancing

Parkit Enterprise Inc. (the "Company") (TSX VENTURE:PKT) - is pleased to
announce that on November 1st it closed a USD $16,500,000 refinancing of the
Denver Canopy parking facility. The non-recourse, floating rate debt used to
complete the recapitalization was provided by CapitalSource Bank, a wholly-owned
subsidiary of CapitalSource Inc. (NYSE:CSE). 


This refinancing relieves the Company from its previous high interest debt
burden and improves the balance sheet considerably. All outstanding amounts owed
by Parkit to Maxam Capital Corp. have been repaid, and Maxam has released all
security. The Wells Fargo construction loan at the asset level has also been
repaid. 


Concurrent to this financing, the Company has issued a $300,000 six-month
convertible debenture at 8% annualized interest comprised of 750,000 Units
priced at $0.40 each. Each Unit consists of one common share and one common
share purchase Warrant, each Warrant entitling the purchaser to purchase one
common share at $0.40 each during the six month term of the debenture. The
proceeds of the debenture are to be used for general working capital purposes. 


Canopy continues to improve in occupancy and yield, and management anticipates
meeting FY 2013 budgeted revenues of $7,500,000 and EBITDA of $2,600,000. 


ON BEHALF OF THE BOARD 

Rick Baxter, President and CEO

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

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.
Suite 1088 - 999 West Hastings Street
Vancouver, British Columbia
Canada V6C 2W2
[e-mail]
[phone]


For Investor Relations Contact:
Andrew Mugridge or Benjamin Curry
Network IR
[e-mail]
[phone]
www.parkitenterprise.com