24 Jan ParcelPal Announces 2017 Revenue Strategy
Vancouver, British Columbia, Canada – January 24, 2017 – ParcelPal Technology Inc. (“ParcelPal” or the “Company”), (PKG:CSE) (FSE:PT0) (OTC:PTNYF) – is pleased to provide the following corporate update.
In the 14 months since it acquired the ParcelPal technology, the Company has worked to develop an enterprise grade delivery logistics platform designed to enable businesses to easily and affordably offer local on demand delivery to their customers.
While delivery is a crowded space, the Company has differentiated itself with its recent technology partnership with an innovative online ordering platform provider. The integration of the ParcelPal technology with this ordering platform has allowed ParcelPal to offer businesses of any size, an inexpensive route to the online marketplace that facilitates order taking, payment, and delivery in a single platform. ParcelPal’s solution, because it bypasses point of sale integrations and eliminates expensive implementations, enables even the smallest businesses to compete in the online marketplace and offer their customers a simple and efficient experience, with economic, productivity, and security benefits accruing to both business and customer. The company is not competing for deliveries, but rather it is creating them by enabling businesses to participate in the on demand market.
The Company has identified four verticals that it believes have current unmet needs: Federally regulated Medical Marijuana (and soon, in Canada, recreational), casual and fast food dining, liquor and retail. Each of these verticals has specialized requirements, which the ParcelPal solution has been designed to accommodate. The Company has released, and is actively marketing, its solution for medical marijuana dispensaries (see January 20, 2017 news release), and will be announcing the release of its restaurant and liquor store solutions in the coming weeks.
Premarketing of these offerings has gone well, and the Company expects rapid adoption in the local Vancouver market as these solutions become known. ParcelPal has already begun planning a North American wide expansion – first to existing “Gig Economy” centres, where the company will be able to access rosters of existing, underutilized, contract couriers, and then on a geographically selective basis to high density urban areas. The Company intends to pursue rapid commercialization of its platform in the four chosen verticals, and take full advantage of the current opportunities to avail itself of a workforce developed by current industry participants.
The company is also excited by the upcoming beta launch of its consumer marketplace app. This truly disruptive app will aggregate all partner businesses from the Company’s four targeted verticals and merge them into one single source, creating a true marketplace for on stop shopping. The ParcelPal application will drive customers to ParcelPal’s integrated partners and take care of the entire transaction from purchase to delivery.
About ParcelPal Technology Inc.
ParcelPal is an iPhone and desktop computer service enabling consumers to shop from partner businesses and have items delivered locally within an hour through a fleet of crowd-sourced couriers. The Company offers on-demand delivery of merchandise from leading retailers, restaurants and liquor stores in Vancouver and soon in major cities Canada-wide.
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
Shares issued and outstanding: 28,188,558
Contact: Kelly Abbott, President, ParcelPal Technology, Inc. – 604-401-8700
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.