04 Apr ParcelPal Achieves Gold Status as Amazon Fulfillment Provider
Vancouver, British Columbia, Canada – April 4, 2018 – ParcelPal Technology Inc. (“ParcelPal” or the “Company”), (PKG:CSE) (FSE:PT0) (OTC:PTNYF) is pleased to announce that it has achieved a key milestone by delivering approximately 500,000 parcels since January. ParcelPal is now among the top rated and fastest growing providers for Amazon (AMZL) out of B.C, allowing it to achieve gold status as an Amazon fulfillment provider. The Company has met and exceeded expectations by the following key metrics of performance:
- 9% First delivery success rate
- Less than 1.5% return on all parcels
- 1600 DPMO (Defects per million opportunities) – 20% below the baseline standards
The high quality of service provided to Amazon over the subsequent 5 months has allowed ParcelPal to aggressively grow their business and revenues that are expected to have grown by 25-30% from our benchmark Q4 2017 earnings through to Q1 2018 (Please see Sedar for Financial statements). The company is now delivering specifically for Amazon in Surrey, South Surrey, Delta, Langley, Vancouver, Burnaby, Coquitlam and New Westminster for Amazon and expects to add additional territories.
“I am extremely proud of the work my team and I have done to achieve such a milestone in such an extremely short period of time. Gold status is an impressive achievement and is only reached by top performing fulfillment providers. We are continuing to grow our company and exploring other opportunities within Amazon that work within our business model. We are also continuing to explore additional opportunities with other smaller and major eCommerce chains to provide a value-add uberization complement.”
Additionally, ParcelPal wishes to report that they are in an adequate cash position and will update shareholders accordingly with operational, development and business development as they become material. The Company wishes to let shareholders know that the company is working hard to complete year-end financials in a timely manner.
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
Contact: Peter Hinam, Investor Relations – firstname.lastname@example.org
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.