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ParcelPal Announces Execution of a Service Agreement with Another One of Canada’s Leaders in the Specialty Pharmacy Services Space

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VANCOUVER, British Columbia, Oct. 07, 2021 (GLOBE NEWSWIRE) -- ParcelPal Logistics Inc. (the “Company” or “ParcelPal”), (OTC:PTNYF) (CSE:PKG) (FSE:PT0) is pleased to announce the signing of an agreement to provide delivery services for a new large client in the specialty pharmacy services space, which has access to over 1,300 retail stores throughout Canada.

ParcelPal will be providing same day and next day prescription deliveries to different facilities, including care homes in the Calgary and Edmonton, Alberta areas to start, with other cities to likely follow. We expect this contract to generate approximately $300K-$400K in gross revenue over the course of 12 months on a profitable basis. CEO Rich Wheeless stated, “Healthcare has continued to be a major focus of mine as the needs in this space have been further accelerated due to the global COVID-19 crisis over the past year and a half. Additionally, many people around the country have multiple chronic health conditions, and as such, they are particularly vulnerable to COVID-19, among other medical conditions. Therefore, it is all the more important that end-use customers continue to have safe access to the medications that they need in a timely manner. I am extremely proud that we are able to provide this vital service during this time and beyond.”

The Company looks forward to providing additional updates in the coming days and 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: PT0

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 or on time due to, among other things, failure to agree to the terms set forth in the definitive documentation, withdrawal at any time by the target company, failure to receive, be satisfied with or complete delivery of satisfactory due diligence documents and information, failure to receive the approval of the CSE, if and as needed, and the risk that ParcelPal will not be successful due to, among other things, general risks relating to the logistics industry, failure of ParcelPal to gain market acceptance of the transaction, and potential challenges related to expansion into a new country, or with the intellectual property utilized in ParcelPal and its acquisition target(s). 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. The risk of the discontinuation of business by third party customers of the acquired business(es) cannot be guaranteed, and is a business risk that is, in large measure, out of the control of the Company. 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.

CONTACT: Contact Information Investor Contact info@parcelpal.com T: (587) 883-9811 Company Contact Rich Wheeless, CEO, CFO, and Director ParcelPal Logistics Inc. rich.wheeless@parcelpal.com T: (614) 395 7778