Delivery it’s the Present and Future $$$$$
ParcelPal signs two more delivery service deals
2020-08-20 11:24 ET - News Release
Mr. Rich Wheeless reports
PARCELPAL ANNOUNCES THE EXECUTION OF ADDITIONAL CUSTOMER AGREEMENTS WITH TWO LARGER VOLUME CORPORATE CLIENTS
As part of the company's continuing growth plan, ParcelPal Technology Inc. signed two larger-volume customer agreements over the past week, which are in addition to the new customer agreements announced last week. The first such agreement is with a large flower subscription service based in Vancouver, which we expect to provide a minimum of 12,500 paid deliveries a year, with the higher end targeted range of approximately 35,000 paid deliveries per year. The second such agreement is with a Western Canada based grocer, which should provide the Company with a baseline of 12,500 yearly deliveries and high-side targets of 36,000 deliveries per year within 12 months. These new customer agreements also 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 two companies to customers in multiple cities in which it operates. CEO Rich Wheeless stated, "I am very pleased to be able to sign these larger volume customers that will help us to continue to scale the Company's revenue growth, achieve higher margins and further diversify our customer base. Both of these deals are with high quality companies, both of which have seen a significant uptick in their demand that I see continuing. Our team has been doing an amazing job of executing on our plan that was laid out, and I thank them for their tireless work and dedication during this time."
The Company looks forward to providing a further update as we release our Q2 earnings this month.
About ParcelPal Technology Inc.
ParcelPal Technology 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.
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