Le Lézard
Classified in: Science and technology
Subject: Restructuring / Recapitalization

ParcelPal Technology, Inc. Announces Name Change to ParcelPal Logistics Inc.

VANCOUVER, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) -- ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (OTC:PTNYF) (CSE:PKG) (FSE:PT0) is pleased to announce that, pursuant to a directors' resolution, it will change its name to ParcelPal Logistics Inc. There will be no change to the symbol. The Company's common shares will continue to trade under the ticker "PKG" on the Canadian Securities Exchange (the "CSE").

The CSE will publish a bulletin announcing the effective date of the change in the Company's name and it is anticipated that the common shares will begin trading under the new name on or about Friday, June 18, 2021. The CUSIP number assigned to the Company's shares following the name change is 69938P106 (ISIN: CA69938P1062). No action is required to be taken by shareholders with respect to the name change. Outstanding share certificates are not affected by the name change and do not need to be exchanged.

About ParcelPal Technology 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 cities including Vancouver, Calgary, Toronto and soon in other major cities Canada-wide. 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

Contact: re: Investor Inquiries - [email protected]

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 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.

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