VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) -- ParcelPal Logistics Inc. (the "Company" or "ParcelPal"), (OTC:PTNYF) (CSE:PKG) (FSE:PT0) is pleased to announce that, as part of the Company's broader plan to continue to diversify its customer base and execute on additional profitable business engagements, it has engaged a leading e-commerce parcel logistics company operating primarily in the western United States, for which we will act as a subcontractor.
Their network provides companies an affordable way to speed up ground delivery so they can lower their shipping costs and delight their customers with world-class service. Their service area includes California and the major metropolitan areas of Arizona, Nevada, Oregon, Washington, Utah, Colorado and Idaho?an area that is home to over 65 million consumers.
This new client is a leading West Coast business in last-mile delivery, and ParcelPal will be doing same day and next day daily work for them on a subcontractor basis, similar to the one in place already with their largest current client. ParcelPal continues to focus on being the partner of choice for last-mile e-commerce deliveries in the western United States.
CEO Rich Wheeless stated, "We are thrilled to be working with another major client that shares our culture of world-class service, and which marks the future in e-commerce last-mile delivery on a larger scale. This is also a testament to the extraordinary efforts of our team members to build a leading parcel carrier and logistics business. This is the next chapter in our steadfast commitment to our rapid expansion in the United States and marks our largest organic client in the United States to date. We expect this agreement to generate USD $1M plus a year in gross revenue over the course of 12 months on a profitable basis. I will continue to work hard to not only diversify and expand our client base but to create additional value for our shareholders."
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
T: (587) 883-9811
Rich Wheeless, CEO, CFO, and Director
ParcelPal Logistics Inc.
T: (614) 395 7778
Forward Looking Information
This news release contains forward looking statements relating to 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.
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