VANCOUVER, British Columbia, Oct. 27, 2021 (GLOBE NEWSWIRE) -- ParcelPal Logistics Inc. (the “Company” or “ParcelPal”), (OTC:PTNYF) (CSE:PKG) (FSE:PT0) is pleased to announce that is has published its updated Company presentation on its website at www.parcelpal.com. The Company's presentation includes, among other things, additional information on the Company's recent US acquisition, future expansion plans, as well as information regarding other positive developments in the Company.
CEO Rich Wheeless commented, “I am very pleased and encouraged by the continued improvement in operating performance, our revenue growth, and most importantly, our recent expansion into the United States. The U.S. acquisition not only nearly doubles the size of the Company on a revenue basis, but it gives us a footprint in the western U.S. which will allow us to expand into other areas operationally that I have wanted to enter, especially warehousing. Given the current global supply chain issues, I believe this will create another large untapped opportunity in the next 12 months. Additionally, the Company has continued to onboard numerous new B2B customers and simultaneously diversifying into multiple new geographic areas and industries as well. As we further expand, I expect our margins to continue to improve. Another important note is that the Company remains well capitalized to quickly take advantage of market opportunities driven by our untapped $5M USD equity line of credit. Lastly, we recently announced the entry into a Letter of Intent for our second U.S. acquisition, which we intend to complete by the end of the year (subject to certain conditions). We will continue to remain aggressive in terms of our approach to expansion, growth and attaining profitability, as we not only close out 2021, but going into 2022 and beyond in a manner most accretive to our shareholders. I want to thank the entire ParcelPal team who have worked tirelessly to execute on our growth plan, which has given and will continue to give us a continued opportunity to further expand, including through the global pandemic and supply chain issues."
The Company looks forward to providing additional 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 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 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.
