ParcelPal Commences Trading on the OTCQB Marketplace

VANCOUVER, British Columbia, Oct. 06, 2020 (GLOBE NEWSWIRE) -- ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (PKG:CSE) (FSE:PT0) (OTC:PTNYF) is pleased to announce that effective at the opening of the market yesterday October 5, the Company's common shares are eligible for primary trading on the OTCQB Venture Marketplace under the symbol "PTNYF" following the approval by the OTC of our primary listing application ("Listing Application"). This is an important distinction and upgrade from the secondary Pink® market the Company was previously listed on. Namely, this primary listing on the OTCQB allows us to offer and sell securities for the first time directly to investors, whereas prior to this, only those securities traded by investor to investor or broker to broker (secondary trading) were permitted.

Simultaneous with this listing, we will have obtained automatic effectiveness of our Form 20-F registration statement ("Registration Statement"), which we initially filed with the Securities and Exchange Commission (the "SEC") in August 2020. While our Registration Statement is now effective, it remains under customary review by the SEC, and we hope to have addressed all of the SEC's queries to their satisfaction in the near term.

The Registration Statement and Listing Application will allow ParcelPal to pursue a dual listing of its common shares on the OTCQB to complement its current listing on the Canadian Securities Exchange ("CSE").

CEO Rich Wheeless commented, "Listing on the OTCQB is a significant milestone for ParcelPal. While we will continue to trade on the CSE, our OTCQB listing will provide greater exposure to institutional investors and a broader shareholder base while providing our current and future shareholders, particularly those residing in the United States, with easier trading and access to ParcelPal's shares. Additionally, we are committed to upholding best corporate governance practices and financial reporting as we continue to accelerate our strategic plan to further grow our market share and continue to penetrate new markets, including in the United States. Upgrading to the OTCQB Market from the Pink market, and complying with the stringent disclosure and filing requirements of the SEC, demonstrates our commitment to transparency and professionalism, and is an important step towards improving liquidity in our stock as we continue to drive shareholder value."

The OTCQB is recognized by the United States Securities and Exchange Commission as an "established public market" and is a leading market for U.S. and international companies in the entrepreneurial and development stage. To be approved for listing, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com.

About ParcelPal Technology Inc.

ParcelPal is a leader in the growing technology and logistics industry. ParcelPal seamlessly connects consumers to businesses, where they have access to the goods they love, anytime, anywhere. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour or the same day. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver, Calgary, Toronto and soon in other major cities Canada and United States 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

Contact: re: Investor Inquiries - [email protected]

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, information concerning the Offering.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in the Company's public filings available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.