ParcelPal Announces New Deal as Part of its Growth Plan
VANCOUVER, British Columbia, Aug. 09, 2021 (GLOBE NEWSWIRE) — ParcelPal Logistics Inc. (the “Company” or “ParcelPal”), (OTC:PTNYF) (CSE:PKG) (FSE:PT0) is pleased to announce as part of the Company’s broader plan to continue to diversify its customer base and execute on additional profitable business engagements, it has signed a new customer agreement over the past week. This new agreement is with a customer that provides wellness products to its clients and also rewards them for steps they take towards their health and wellness via their app. Clients can choose rewards from a variety of local businesses as well. This new customer agreement does not involve a national or large regional chain type customer; however, it should provide for higher margins, which will continue to help the company drive not only its revenue, but also its improvement in operating performance.
ParcelPal will be providing same day and next day delivery services for this new client to customers in the Vancouver area. CEO Rich Wheeless stated, “I am happy to continue to sign another B2B customer especially in the wellness space to help sustain the improvement in operating performance. While we will continue to sign additional new customers in Canada, we will be focusing heavily on our expansion into the United States as well as other territories as opportunities arise, as we look to create additional value for our shareholders.”
The Company looks forward to providing a further material update in the coming days.
About ParcelPal Logistics Inc.
ParcelPal is a Vancouver, British Columbia based company that specializes in last-mile delivery service and logistics solutions. We are a customer-driven, courier and logistics company connecting people and businesses through our network of couriers in cities including Vancouver, Calgary, Toronto and soon in other major cities Canada-wide. Some of our verticals include pharmacy & health, meal kit deliveries, retail, groceries and more.
ParcelPal Website: www.parcelpal.com
Neither the Canadian Securities Exchange (“CSE”), the Securities and Exchange Commission nor any other securities regulatory authority has reviewed and do not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management.
OTC – Symbol: PTNYF
CSE – Symbol: PKG
FSE – Symbol: PT0
Forward Looking Information
This news release contains forward looking statements relating to the Proposed Transaction, and the future potential of ParcelPal. Forward looking statements are often identified by terms such as “will”, “may”, “should”, “intends”, “anticipates”, “expects”, “plans” and similar expressions. All statements other than statements of historical fact, included in this release are forward looking statements that involve risks and uncertainties. These risks and uncertainties include, without limitation, the risk that the Proposed Transaction will not be completed due to, among other things, failure to execute definitive documentation, failure to complete satisfactory due diligence, failure to receive the approval of the CSE and the risk that ParcelPal will not be successful due to, among other things, general risks relating to the mobile application industry, failure of ParcelPal to gain market acceptance and potential challenges to the intellectual property utilized in ParcelPal. There can be no assurance that any forward looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The Company cannot guarantee that any forward looking statement will materialize and the reader is cautioned not to place undue reliance on any forward looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward looking statements contained in this news release are expressly qualified by this cautionary statement. The forward looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward looking statements as expressly required by Canadian securities laws.