ParcelPal Reports 75% Increase in Revenue for November 2019

VANCOUVER, BC / ACCESSWIRE / December 16, 2019 / ParcelPal Technology Inc. (“ParcelPal” or the “Company”), (CSE:PKG)(FSE:PT0)(OTC PINK:PTNYF) is pleased to announce that it has achieved record revenue for the month of November, 2019. Notably, the company achieved approximately $565,000 in November versus $322,470 November in the previous year, an overall 75% increase.

“I am thrilled with our progress moving into the end of 2019, and acceleration into the New Year. In November 2019, we were able to achieve around $565,000 in sales in just one month, compared to $322,000 in November 2018. We saw an acceleration in sales growth across all verticals, especially within eCommerce and same day delivery, which is now starting to scale. This was our biggest November on record, these results are promising across all our geographic segments and verticals, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period with major launches in marketing and sales tactics being fully rolled out,” said President and Chief Executive Officer, Kelly Abbott.

Abbott Continued, “We have successfully maintained an overall 99% delivery success rate, delivering thousands of packages last month. Our results this quarter decisively demonstrate the growing profitability and opportunities ahead for us. As we enter Q1, I am very confident that we will continue our growth trajectory into 2020 and continue to capitalize on this billion-dollar industry.”

About ParcelPal Technology Inc.

ParcelPal is a leader in the growing technology and logistics industry. ParcelPal seamlessly connects consumers to businesses, where they have access to the goods they love, anytime, anywhere. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour or the same day. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver, Calgary, Saskatoon and soon in major cities Canada-wide.

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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.

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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.

SOURCE: ParcelPal Technology Inc.

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