VANCOUVER, British Columbia, July 16, 2019 /PRNewswire/ -- ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (PKG.CN) (PT0.F) (PTNYF) is pleased to announce that it has formed an alliance with Canadian cannabis topicals company, The Yield Growth Corp. (BOSS.CN) (BOSQF) (YG3.F) ("Yield Growth") for same day and on demand delivery, sale, of hemp based cosmetics from Yield Growth's subsidiary Urban Juve in Canada.
This initiative between Yield Growth and ParcelPal will commence in Vancouver as the catalyst city, and it is expected that additional cities will be rapidly added to this distribution network across Canada. Urban Juve's customers will be able to purchase through Urban Juve's website (www.urbanjuve.com) and ParcelPal will create an exclusive marketplace applications. Urban Juve hemp products are currently sold in over 90 locations including well known pharmacy chains across North America, with a plan to expand that to 130 retail outlets in the near future.
Customers will be able to track their purchase in real time and have their product delivered to any location they specify. As time and regulations allow, ParcelPal's cannabis network will continue to grow, with the goal of capturing a major piece of Canada's $5.2B legal cannabis market.
President and CEO, Kelly Abbott states, "ParcelPal is thrilled to be working an innovative company such as The Yield Growth's Corp, which is addressing one of the fastest-growing subsegments of the $4.2 trillion wellness market with unique derived and cannabis infused products. This marks a milestone at ParcelPal, launching a new vertical with substantial growth potential. It's also a unique opportunity to be at the forefront of an exciting new industry with our unique logistics solutions."
President and CEO of The Yield Growth Corp. Penny Green States "This new agreement is part of our continued efforts to serve our customers as seamlessly as possible," says Penny Green, CEO of Yield Growth Corp. "ParcelPal is a great service, and our alliance will lay the groundwork for us to eventually offer same-day delivery service for pain management cannabis topicals and other cannabis products in jurisdictions where they're legal."
About The Yield Growth Corp.
The Yield Growth Corp. develops, manufactures and distributes cannabis and hemp infused luxury product brands Urban Juve and Wright & Well, and has a catalogue of over 200 wellness and beauty formulas. It intends to disrupt the international wellness market which is a 4.2 trillion global economy, according to the Global Wellness institute, by connecting ancient healing with modern science and technology. It's management team has deep experience with global brands including Johnson & Johnson, Proctor and Gamble, M-A-C cosmetics, Sketchers, Best Buy Aritzia, Coca-Cola, and Pepsi Corporation. Yield Growth Serves mainstream luxury customers who seek sophisticated wellness products. It has flagship consumer brand, Urban Juve, has proprietary, patient pending hemp root extraction technology and has 12 patents pending. Yield Growth is building sophisticated international distribution channels and has multiple revenue streams including licensing, services and products.
About ParcelPal Technology Inc.
ParcelPal is a technology-driven logistics company that connects consumers to the goods they love. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver and soon in major cities Canada-wide.
ParcelPal Website: 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.
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FSE – Symbol: PT0
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Forward Looking Information
We seek safe harbour
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.