VANCOUVER, British Columbia, July 26, 2022 (GLOBE NEWSWIRE) -- ParcelPal Logistics Inc. (the "Company" or "ParcelPal"), (OTC:PTNYF) (CSE:PKG) (FSE:PT0A) 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 increased its subcontracting business.
The Company has been doing additional subcontracting for local courier companies to support overflow deliveries from a larger carrier. As a result this has expanded our business through supporting partner fleets. The carrier is a leading integrated freight, package and logistics solutions provider. They have been in business for over 60 years and have over 14,000 employees.
CEO Rich Wheeless stated, "Supporting fast growing partners in this space is a service we are always proud to provide. There continues to be a major need in the logistics space for our services and we will continue to focus on signing additional profitable customers not only in Canada but on subsequent growth in the United States as additional new customer and acquisition opportunities have arisen, all in an effort to create additional value for our shareholders."
The Company looks forward to providing additional material updates as they occur.
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.
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: PT0A
T: (587) 883-9811
Bruce Nurse, Director of Investor Relations
ParcelPal Logistics Inc.
T: (303) 919-2913
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.