VANCOUVER, BC / ACCESSWIRE / October 31, 2019 / ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (PKG.CN)(PT0.F)(PTNYF) is pleased to announce that this week the Company surpassed a record day for revenue in 2019.
The company achieved over $20,000 in a single day of operations, delivering thousands of packages. The company is expecting this revenue ramp-up to consistently grow into the holiday season and surpass expected results for 2019. Additionally, one of ParcelPal's main clients has expressed interest in expanding the scope of the relationship to include wider territories current regions, leaving room for further growth in outlying areas that ParcelPal does not currently operate within.
President and CEO, Kelly Abbott states, "We are thrilled to have achieved this accomplishment and with our rapid growth trajectory. The feedback we have received from our customers and clients has been fantastic, which is a true testament to our service levels. I would especially like to thank my staff and particularly, our VP of Operations, Charles McGee." Abbott Continued, "With continued forward progression in our operating activities, we have been aggressive in taking advantage of SME's locally. We are consistently targeting new markets with potential investment and brand partners wile vetting out strategic opportunities to expand our business and increase shareholder value."
The Company will be applying for approval from the Canadian Securities Exchange to extend the expiry date of 12,229,925 common share purchase warrants issued to subscribers (the "Subscriber Warrants") pursuant to the Company's Private Placement. The Company intends to extend the expiry date of the Subscriber Warrants from Jan 12, 2020 until July 31, 2020. The exercise price of $0.20 and all other terms of the Subscriber Warrants will remain unchanged for the extended exercise period. The extension is subject to approval from the Canadian Securities Exchange.
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.
CSE - Symbol: PKG
FSE - Symbol: PT0
OTC - Symbol: PTNYF
Peter Hinam, Director, CSO
Forward Looking Information
We seek safe harbor
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.
SOURCE: ParcelPal Technology Inc.
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