Vancouver, British Columbia, June 16, 2017 – ParcelPal Technology Inc. (OTC: PTNYF) (CSE: PKG) (FSE:PT0) (“ParcelPal” or the “Company”) announces that the Company has granted incentive stock options (the “Options”) to certain directors, officers and consultants of the Company to purchase up to an aggregate of 800,000 common shares in the authorized share structure of the Company. The Options are exercisable on or before June 1, 2020 at an exercise price of $0.16 per common share. The Options will be governed by the provisions of ParcelPal’s stock option plan.
The Company also announces the resignation of Martin Woodward as a director of the Company. Kelly Abbott, the President and Chief Executive Officer of the Company, commented, “We would like to thank Martin for all of his efforts on behalf of the Company and wish him all the best in his future endeavours.”
About ParcelPal Technology Inc.
ParcelPal is a technology driven logistics company that connects consumers to the goods they love. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver and soon in major cities Canada-wide.
How it Works
Through the ParcelPal iOS app, customers enter their address and view a list of merchants available in their neighborhood. Once the customer makes a selection, they simply place the order and pay online through ParcelPal secure ordering platform. The order is then prepared by the merchant and brought directly to customers by a ParcelPal driver anywhere they choose within Vancouver. Customers will also have the option to order and pick it up themselves.
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
Contact: Kelly Abbott, President and Chief Executive Officer, ParcelPal Technology, Inc. – 778-237-5212
Forward Looking Information
This news release contains forward-looking statements. 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 fact included in this release are forward- looking statements that involve risks and uncertainties including but not limited to the Company expanding into additional markets. These risks and uncertainties include, without limitation, the risk that the Company will not be successful due to, among other things, general risks relating to the mobile application industry, failure of the Company’s mobile app to gain market acceptance and potential challenges to the intellectual property utilized in the Company’s mobile app. The forward-looking statements are based on the assumptions that the Company will be able to expand in major cities Canada wide. 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.