ParcelPal Technology, Inc. Announces Results of Warrants Exercised
Vancouver, British Columbia (FSCwire) - ParcelPal Technology Inc. (“ParcelPal” or
the “Company”), (CSE: PKG; Frankfurt: PT0) – Is pleased at the results of the first series of warrants that have been exercised.
The initial offering was of 5,000,000 units with a half warrant for 1 year allowing the subscriber to purchase a share
for $0.10 within 1 year. The maximum amount which could be received from the warrants to ParcelPal Technology
is $250,000 and this amount has nearly been complete at $222,000 on December 17th 2016.
|
Private Placement Closing
|
Number of Warrants Exercised
|
Percentage of Warrants Exercised
|
|
November 26, 2015 (First Tranche)
|
770,000
|
77.00%
|
|
December 18, 2015 (Second Tranche)
|
1,450,000
|
96.66%
|
|
Finders Warrants
|
48,000
|
48.98%
|
|
TOTAL
|
2,268,000
|
87.30%
|
About ParcelPal Technology Inc.
ParcelPal is an iPhone, Android and desktop computer service enabling businesses and individuals to quickly and
affordably have items delivered locally though crowd-sourced couriers. The Company offers same-day delivery of merchandise for
leading retailers in Vancouver and soon in major cities Canada-wide.
ParcelPal: www.parcelpal.com
The 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
Frankfurt - Symbol: PT0
Shares issued: 28,188,558
Contact: Jason Moreau, CEO, ParcelPal Technology, Inc. – 604-401-8700
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 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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/parcelpal12212016_0.pdf
Source: ParcelPal Technology Inc. (CSE:PKG, FWB:PTO)
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