TORONTO, Sept. 22, 2021 /PRNewswire/ - PUDO Inc. ("PUDO" or "the Company") (CSE: PDO) (OTCQB: PDPTF), North America's only carrier-neutral parcel pick-up and drop-off counter Network, capitalized on its strong foot-hold in the vaping industry by signing Client Service Agreements ("Agreements") with online vaping industry retailers West Coast Vape Supply Inc, and ELiquid Depot — two of the $15B North American vaping industry's major players.
With these two new Agreements, PUDO has further expanded its role as the definitive delivery solution for the vaping industry, which has struggled to adapt to new U.S. federal legislation making the home delivery of vaping products considerably more difficult. These strategic Agreements have the support of the American Vaping Association, a prominent advocacy group which views innovators like PUDO as critical to assisting the industry as it grows its 100 million annual parcel volumes by a projected compounded annual growth rate of 28.1% over the next seven years.
Many major carrier services are unable to meet the 'age and identity verification' ("AIV") and other requirements of the new legislation which governs the delivery of industry specific branded consumer products, including alternative smoking accessories and consumables with active ingredients. With its carrier-agnostic parcel pick-up and drop-off counter locations throughout North America, PUDO is the perfect solution for AIV.
Mike Ibrahim, CEO of West Coast Vape Supply says, "We are excited to explore new Delivery opportunities with PUDO and continue to bring harm reduction technologies to our customers. This new Agreement will help solve shipping challenges and we hope new customers who would like to find another nicotine delivery method can benefit."
American Vaping Association President Gregory Conley is pleased with how PUDO is working with members to streamline deliveries and enhance the customer experience. "We believe adult smokers and ex-smokers deserve access to a wide variety of smoke-free vaping products. At the same time, we also understand the concerns that legislators and public officials have expressed about home delivery of these products occurring without crucial safeguards being in place to prevent youth access. We are excited to have PUDO as a solution for millions of American adult consumers," says Conley.
"Our PUDOpoint Counters operators are benefiting from increased parcel volumes and foot traffic, vape industry customers are benefiting by being able to pick-up the parcels during extended hours and on weekends at locations near to where they live, work, or play, and online retailers are enjoying frictionless, seamless compliance," says PUDO Founder and CEO Frank Coccia. "A triple home run."
About PUDO Inc.
PUDO Inc. is North America's only carrier-neutral parcel pick-up and drop-off counter Network, conceived to resolve the last-mile parcel-traffic-control gridlock that challenges North America's$827B retail e-commerce sector, and eliminate over $6B in door-dropped parcel theft annually.
PUDO's team of logistics and parcel traffic management experts have created a plug-and-play, pay-as-you-go platform and Network of parcel pick-up and drop-off storefront counters known as PUDOpoint Counters, strategically located very near to where people live, work and play.
The PUDO model reduces or eliminates crippling last-mile related expenses for online retailers, marketplaces and carrier/delivery partners, with fulfillment and distribution solutions that include parcel storage and consolidation for click-and-collect deliveries, online returns, and the nearly 35% of e-commerce parcels that are undeliverable on first attempt.
Membership in the PUDOpoint Counters Network program offers consumers 'parcel receipt certainty', early/late/weekend pick-up and return convenience, 100% elimination of door-drop parcel theft, and a mobile home-away-from-home address Network that goes wherever they do.
The PUDOpoint Counters Network provides all carriers, retailers, and consumers with badly needed cost controls, choice, and convenience.
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For more information, please visit www.pudopoint.com
Forward-Looking Statements
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, such as statements regarding estimated revenues from new contracts, increased parcel volume, activation and implementation of PUDO's technology and possible future expansions of PUDO's operations. This information is based on current expectations and assumptions of management, including assumptions concerning PUDO's ability to integrate its new customers into its network and successfully execute on its new and existing contracts. The use of any of the words "anticipate", "believe", "expect", "plan", "intend", "can", "will", "should", and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, uncertainties with respect to service implementation, the economic results of the relationship on the operations of the Company, changes in general economic, market, or business conditions, and those risks set out in the Company's public documents filed on SEDAR. This press release, in particular the information in respect of estimated revenues, may contain future-oriented financial information or financial outlook within the meaning of applicable securities laws. Such future-oriented financial information or financial outlook has been prepared for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by law.
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SOURCE PUDO Inc.
