VANCOUVER, British Columbia, June 16, 2022 (GLOBE NEWSWIRE) -- ParcelPal Logistics Inc. (the “Company” or “ParcelPal”), (OTC:PTNYF) (CSE:PKG) (FSE:PT0A) is pleased to announce that, as part of the Company’s broader plan to continue to diversify its customer base, execute on additional profitable business engagements and its continued expansion in the United States, we have begun operating a site in the Utah area.
This business expansion involves the same major carrier that is involved in the acquisition that we announced last week; however, this is an entirely new site and new city, and unrelated to our previously announced acquisition. We look forward to providing services to one of the largest express transportation and logistics provider in the world and further developing this valuable business relationship at this site and in future expansions.
Importantly, this expansion has been organically developed and did not involve the issuance of stock or cash to acquire this site. We hope to continue such expansions in the near and long term, bringing further revenue, improved operating margins and shareholder value.
CEO Rich Wheeless commented: “We just recently started working with this new major customer, and acquiring this additional business will allow us to be able to further increase and diversify our business in the immediate and longer term. This will also give us the opportunity to gain a stronger footprint in the surrounding states due to the global supply issues. We have not only been able to rapidly increase our revenue and margins, but have shown significant financial operating improvement over the past year, and I look forward to continuing this trend.”
The Company looks forward to providing additional material updates in the coming 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: PT0A
Contact Information
Investor Contact
info@parcelpal.com
T: (587) 883-9811
Company Contact
Bruce Nurse, Director of Investor Relations
ParcelPal Logistics Inc.
bruce.nurse@parcelpal.com
T: (303) 919-2913
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", “believe”, "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.
