22 Aug ParcelPal Announces Strategic Partnership with Major Canadian Producer Aphria Inc.
Vancouver, British Columbia, Canada – August 22, 2019– ParcelPal Technology Inc. (“ParcelPal” or the “Company”), (CSE: PKG) (FSE: PT0) (OTC: PTNYF) is pleased to announce that it has formed a strategic partnership with one of the largest Canadian Federally Licensed producers in Canada, Aphria Inc. (“Aphria”) (TSX:APHA, NYSE: APHA) for distribution delivery of legal medical cannabis in Canada.
This first of its kind initiative will begin with medicinal cannabis distribution and delivery in Calgary, Alberta with Aphria acting as the supplier of product and the online point of sale and ParcelPal acting as the distribution arm via its technology driven delivery applications. Medical patients will purchase product from Aphria’s online store and utilize the ParcelPal technology platform to receive their product safely and legally. All customers will be able to track their purchase in real time and have their product delivered directly to any location they specify within Calgary.
In collaboration with ParcelPal, Aphria Inc and MADD Canada are confident that this program will not only enable consumers unfettered access to their medicinal cannabis in a safe and timely manner but will furthermore assist in eliminating impaired drivers from our roadways by removing their need to drive to or from cannabis stores for product.
This innovative initiative between ParcelPal and Aphria will commence with Calgary as the catalyst city and it is expected that additional cities will be rapidly added to this distribution network across Canada. As time and regulations allow, ParcelPal’s cannabis network will continue to grow, with the goal of capturing a major piece of Canada’s $4.0B legal cannabis market.
President and CEO, Kelly Abbott states, “We are thrilled to be working with Aphria on this exciting new venture that will help to kick off the next evolution of our company. The legal cannabis space continues to serve as a sector filled with significant growth potential for ParcelPal. Management believes that we are launching our legal cannabis delivery platform at the ideal time as legislation across the country continues to expand the addressable cannabis marketplace. We expect to leverage numerous business opportunities in the upcoming year. We look forward to establishing ourselves as a market leader in the cannabis delivery space and capturing meaningful market share in 2019 and beyond.”
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, 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
We seek safe harbour
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.