ParcelPal Announces the Execution of Numerous Agreements with Corporate Clients Over the Past Month
VANCOUVER, British Columbia, Aug. 13, 2020 (GLOBE NEWSWIRE) — ParcelPal Technology Inc. (“ParcelPal” or the “Company”), (PKG:CSE) (FSE:PT0) (OTC:PTNYF) is pleased to announce as part of the Company’s broader plan to expand operations, further diversify its customer base and execute on additional profitable business engagements, it has signed numerous new customer agreements over the past month. These new agreements include customers in the flower delivery space (with two different companies), a small beverage company, a grocer, a pet supply store, and a nationwide meal delivery kit company (our second of this type since February). These new customer agreements 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 these companies to customers in multiple cities in which it operates, including Vancouver, British Columbia, Calgary, Alberta and Toronto, Ontario. CEO Rich Wheeless stated, “I am extremely proud that we have been able to quickly sign numerous corporate customers, both large and small, as we have made the shift to focusing on a more scalable and profitable delivery as a service business model, while continuing to further diversify our client base. My goal from day one has been and will continue to be to focus on what we do best, and we are starting to see it pay dividends. I am very encouraged by the progress, and believe we are ahead of schedule from the strategic plan I originally laid out when I took the helm of the Company. As I have stated in prior media releases, this is still a 12 to 18 month process to complete, but we are well on our way.”The Company looks forward to providing a further update as we progress, sign additional new customers and as we release our Q2 earnings in the coming weeks.About ParcelPal Technology Inc.ParcelPal is a leader in the growing technology and logistics industry. ParcelPal seamlessly connects consumers to businesses, where they have access to the goods they love, anytime, anywhere. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour or the same day. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver, Calgary, Toronto and soon in major cities Canada-wide.ParcelPal Website: www.parcelpal.comThe Canadian Securities Exchange (“CSE”) or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management.CSE – Symbol: PKG
FSE – Symbol: PT0
OTC – Symbol: PTNYFre: Investor Inquiries – [email protected] Forward Looking InformationThis 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.