ParcelPal Logistics Announces the Largest Volume Days in the History of the Company

Vancouver, British Columbia--(Newsfile Corp. - January 3, 2024) - ParcelPal Logistics Inc.(OTCQB: PTNYF) (CSE: PKG) (FSE: PT0A) (the "Company" or "ParcelPal"),  is pleased to announce that it has had its largest volume days in the history of the Company over the last few weeks of December 2023. The volume the Company has experienced in the United States has been approximately 20% higher than originally projected, and the sheer number of deliveries completed has been much higher than in any year prior. We believe the higher volume is likely to continue into January 2024 as our post-Christmas package count remains relatively high. This is a great sign for the Company as thus far we have reported our strongest operational year in the history of the Company.

CEO Rich Wheeless stated, "The continued increase in not only our package count but also the amount of delivery stops is a great sign for the Company. We continue to see an unprecedented amount of business, which continued throughout December. This comes off the heels of our recently announced best (third) quarter in the history of the Company, which is why I remain bullish heading into 2024 that it will be an even stronger year for us, including with the numerous U.S. growth opportunities that exist."

Extension to Hold 2023 Annual Meeting

The Company also announces that it has been granted an extension of six months by the Registrar of Companies, to hold its Annual General Meeting ("AGM") for the year 2023, under section 182(4) of the Business Corporations Act. The six months extension is from December 31, 2023, to July 1, 2024.

A notice of the date of the AGM and record date will be filed on SEDAR (www.sedarplus.ca) at a later date, once determined by the Company.

We look forward to providing a further update in the coming days and weeks.

About ParcelPal Logistics Inc.

ParcelPal is a Vancouver, British Columbia based company that specializes in last-mile delivery service and logistics solutions. We are a customer-driven, courier and logistics company connecting people and businesses through our network of couriers. Some of our verticals include pharmacy & health, meal kit deliveries, retail, groceries and more.

ParcelPal Website: www.parcelpal.com

Neither the Canadian Securities Exchange ("CSE"), the Securities and Exchange Commission nor any other securities regulatory authority has reviewed and do not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management.

OTCQB - Symbol: PTNYF
CSE - Symbol: PKG
FSE - Symbol: PT0A

Contact Information

Investor Contact

investors@parcelpal.com
T: (587) 883-9811

Company Contact

investors@parcelpal.com
T: (587) 883-9811

Forward-Looking Information

This news release contains forward-looking statements relating to 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 or on time due to, among other things, failure to agree to the terms set forth in the definitive documentation, withdrawal at any time by the target company, failure to receive, be satisfied with or complete delivery of satisfactory due diligence documents and information, failure to receive the approval of the CSE, if and as needed, and the risk that ParcelPal will not be successful due to, among other things, general risks relating to the logistics industry, failure of ParcelPal to gain market acceptance of the transaction, and potential challenges related to expansion into a new country, or with the intellectual property utilized in ParcelPal and its acquisition target(s). 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. The risk of the discontinuation of business by third party customers of the acquired business(es) cannot be guaranteed, and is a business risk that is, in large measure, out of the control of the Company. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193008