VANCOUVER, British Columbia, Jan. 25, 2022 (GLOBE NEWSWIRE) -- ParcelPal Logistics Inc. (the “Company” or “ParcelPal”), (OTC:PTNYF) (CSE:PKG) (FSE:PT0) is pleased to announce that for the months of October and November 2021, it had achieved its second consecutive year of back to back operationally profitable months. We also believe December 2021 will be operationally profitable, leading to what we anticipate will be an operationally profitable 4th Quarter. The 4th Quarter of 2020 was the first time the Company had ever achieved an operating profit in a quarter, and we anticipate Q4 2021 will be similarly successful, but with higher revenues and lower costs. We note that these preliminary results are unaudited and subject to a full quarterly financial review, but the point remains the same, the Company is increasing gross revenues with continually improved margins, which is a major positive for any operating company.
CEO Rich Wheeless stated, “We continue to increase our margins, scale the business and execute on our growth and expansion plan. The byproduct of our efforts has been attaining a much bigger and more geographically diverse Company, which we plan to continue. This combination of signing more profitable contracts, moving into new industries and the expansion into the U.S. market has led to a much stronger organization. I look forward to further strong growth and continuing our drive into 2022.”
The Company looks forward to providing additional material updates in the coming days and weeks.
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 major Canadian cities including Vancouver, Calgary, and Toronto, and now in the western region of the United States. 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
Contact Information
Investor Contact
info@parcelpal.com
T: (587) 883-9811
Company Contact
Rich Wheeless, CEO, CFO, and Director
ParcelPal Logistics Inc.
rich.wheeless@parcelpal.com
T: (614) 395 7778
Forward Looking Information
This news release contains forward looking statements relating to 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 or on time due to, among other things, failure to agree to the terms set forth in the definitive documentation, withdrawal at any time by the target company, failure to receive, be satisfied with or complete delivery of satisfactory due diligence documents and information, failure to receive the approval of the CSE, if and as needed, and the risk that ParcelPal will not be successful due to, among other things, general risks relating to the logistics industry, failure of ParcelPal to gain market acceptance of the transaction, and potential challenges related to expansion into a new country, or with the intellectual property utilized in ParcelPal and its acquisition target(s). 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. The risk of the discontinuation of business by third party customers of the acquired business(es) cannot be guaranteed, and is a business risk that is, in large measure, out of the control of the Company. 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.
