ParcelPal CEO Kelly Abbott Provides an Update

ParcelPal Technology Inc. (“ParcelPal” or the”Company”), (CSE: PKG) (CSE: PKG.CN) (FSE: PT0) (OTC: PTNYF) is very happy to provide a corporate update from Kelly Abbott, CEO of ParcelPal.

It has been months since an upgrade has been given by me to my shareholders. I am happy to report that the state of the organization is growing in the cannabis industry over the past month, especially regardless of market conditions and strong. Over the past 2 months the Company has:

  • Boosted our balance sheet by over CDN $2,000,000 through a combination of warrant exercise in addition to CDN $1,000,000 strategic financing at $0.35 per share.
  • Launched in two new Western Canadian cities (Calgary and Saskatoon).
  • Expanded our footprint with Amazon.com into america, whereby the company will be servicing Everett this month and expand to additional cities in the near future.
  • Became the only Canadian shipping company that will provide cannabis delivery in one hour or less by signing a LOI distribution agreement with Choom (CSE:CHOO).
  • Achieved another milestone of delivering a further ~500,000 packages, brining the total to over 1.5 million deliveries.

ParcelPal is executing on all our plans and we are continuing to attract partners and expanding on existing partnerships. With more developments in motion, I am very happy to supply some insight into operations of ParcelPal.

As growth and growth are the key priorities for ParcelPal, advancement into various verticals and our technologies and we intend to reinvest into the on-demand operations of the Company. We have begun marketing campaigns in possible growth cities and most cities . As our presence in Western Canada grows, we’ll start our expansion effort to tier one cities in the near future well as Eastern Canadaas. As the company continues to expand across Canada, we’ll also want to expand our presence.

Progress has been seen by the cannabis industry . On October 17th 2018, Canada became the second country in the world to fully legalize marijuana. We’re still actively engaging federal, local and municipal governments as we start in this industry. Our first delivery will start in Saskatchewan, Canada. We are currently building out security requirements for our facility and will start deliveries as early as the middle of the month.

We’re continuously engaging in business growth within the US and Canada to find other growth catalysts. We’re still focusing our efforts on various verticals for delivery, small business and large eCommerce contracts and user acquisition. After successfully launching ParcelPal into multiple markets, we are proud to announce we have achieved another milestone of delivering a further 500,000 more packages in less than 4 months bringing the total to over 1.5 million deliveries.

I look forward to sharing more with you over the coming weeks and months. Thank you for your support.

About ParcelPal Technology Inc..  

ParcelPal is a technology-driven logistics company that links consumers to the goods that they love. Customers can shop at partner businesses and receive their purchased goods. The business offers on-demand delivery of product from retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver and soon in major cities Canada-wide.

The Canadian Securities Exchange (“CSE”) or any other securities regulatory authority has not reviewed and doesn’t accept responsibility for the adequacy or accuracy of this news release that’s been prepared by management.

Forward Looking Information

This news release contains forward looking statements and ParcelPal’s future potential. 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 are forward looking statements which 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, overall risks relating to the mobile application business, failure of ParcelPal to obtain market acceptance and possible 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 these statements.  

The business can’t guarantee that any forward-looking statement will materialize, and the reader is cautioned to not put undue reliance. 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 expected. Forward looking statements are expressly qualified by this cautionary statement. The forward-looking statements are made as of the date of the news release and the Company will only update or revise publicly any of the included forward looking statements as required by Canadian securities laws.

View original content: http://www.newswire.ca/en/releases/archive/November2018/14/c1543.html

Peter Hinam, Director, Investor Relations, peter@parcelpal.com, +604-401-8700Copyright CNW Group 2018

Released at Wed, 14 Nov 2018 12:32:10 +0000

Posted in: News

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