Parkit announces sale of JV asset

|About: Parkit Enterprise Inc. (PKTEF)|By:, SA News Editor

Parkit Enterprise (OTCQX:PKTEFannounces that one of the single purpose entities held by OP Holdings JV LLC to be sold for ~$36.1M.

The sale will contribute to paying down the bulk of the 15% IRR hurdle owed to the Majority Member of OP Holdings JV LLC.

The closing of the sale is anticipated to occur on or before October 15.

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