Vancouver, British Columbia--(Newsfile Corp. - November 2, 2023) - ParcelPal Logistics Inc. (OTCQB: PTNYF) (CSE: PKG) (FSE: PT0A) (the "Company" or "ParcelPal") is pleased to announce that it has acquired 20 electric delivery vehicles in the United States, which are already on the road daily for our largest customer in Utah. Our goal is to have 50% of our delivery fleet be composed of electric vehicles by the end of 2024, and fully electric by the end of 2026. In addition to being an environmentally friendly pivot, we have also found that using electric vehicles saves approximately one hour per day on our driver's routes because the vehicles screens interface with the delivery app. Drivers no longer worry about relying on their phone for navigation information. The screen above the steering wheel displays precise driving directions and a bigger screen defines detail on the delivery locations, which both help to keep eyes on the road and avoid obstacles. The drivers at our facility who have been the first to use the vans have shown an increase in productivity by shaving approximately one hour off their routes per day as a result.

CEO Rich Wheeless stated, "We are always looking for ways to become more efficient and eco-friendly, while making sure the delivery experience is as customer friendly as possible. I see this as a major step in that direction, and the results in the initial weeks have proven to be very promising. This will also help us on an operating efficiency basis due to reduced labor costs and higher margins, which is a nice bonus. I am looking forward to adding additional electric vehicles to our fleet in the coming months."

The Company looks forward to providing additional material updates in the coming days and weeks.

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 Canada, as well as in the western region of the United States. Some of our verticals include pharmacy & health, meal kit deliveries, retail, groceries and more.

ParcelPal Website:

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

Contact Information

Investor Contact

investors@parcelpal.com
T: (587) 883-9811

Company Contact

Rick Underhill, Director of Investor Relations
ParcelPal Logistics Inc.
investors@parcelpal.com
T: (587) 883-9811

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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