25 Nov ParcelPal Announces Over 3000 User Downloads on the ParcelPal Application
Vancouver, British Columbia, Canada / November 25, 2017 – ParcelPal Technology Inc. (“ParcelPal” or the “Company”), (PKG:CSE) (FSE:PT0) (OTC:PTNYF) – is pleased to announce, the results of the ParcelPal application downloads for the months of October and November. The application now has over 3,000 downloads in total.
Unlike other delivery models in Canada, ParcelPal supports digital orders directly through the app and does not require customers to phone the company to place or complete an order. ParcelPal has made strides in its technology with the ultimate goal of enabling customers the ability to order virtually anything from anywhere in their city. With multiple restaurant partners on the ParcelPal platform, the service currently covers the metro Vancouver area with more areas throughout the Lower Mainland to come throughout the winter, including: Kitsilano, east Vancouver, Mount Pleasant and North Vancouver.
These 3,000 downloads prove the concept of ParcelPal and prove that there is an unfulfilled need for these services. ParcelPal currently has a good balance of new and repeat users for its first four months of operation, which demonstrates that the app is achieving repeat customers and regular use, even at such an early stage.
The on-line food delivery is a rapidly growing market within a $600-billion (U.S.) restaurant industry. Currently disrupting traditional forms of delivery due to the rise of popular mobile ordering, the U.S. food delivery market alone accounted for over $210-billion of restaurant revenue in the last year, of which $11-billion was exclusively through on-line ordering. This provides ParcelPal with a total addressable market for the Canadian on-line food delivery market, which is estimated at $7-billion (Canadian).
President and chief executive officer Kelly Abbott stated: “Since July, we have made over 2,000 deliveries on our platform in Vancouver. We are very excited to add more delivery verticals to offer our customers more options for their on-demand needs. We plan on expanding our restaurant offerings and expanding our zones to the Greater Vancouver Area in the coming months to fulfill the demand. In addition to this, we will be fully rolling out alcohol delivery exclusively to our metro Vancouver customers in the next few weeks.”
The app now has food, and is expected to add grocery, alcohol other everyday goods, and a get-anything functionality, where consumers can order virtually anything and have it delivered in an hour or less. Additionally, the company has signed a work order contract with Amazon Inc. for fulfilment services. Further details of this will be released in the coming weeks.
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.
ParcelPal Website: www.parcelpal.com
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
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.