starboy
3 years ago
ParcelPal Logistics Inc. Reports Fiscal Year End 2021 Results Highlighted by Record Revenue Numbers and Record Margins
.
Wed, May 4, 2022, 3:16 PM
https://finance.yahoo.com/news/parcelpal-logistics-inc-reports-fiscal-221600360.html
Overview
In FY 2021, the Company expanded into new geographic areas and again achieved record revenue numbers, which was driven by annual revenue growth of nearly 19% to approximately $7.5 million (up from $6.3 million in FY 2020). The Company also entered into the Unites States market in September 2021 with its first acquisition. It is important to note that in 2021 we only recognized just over three months of revenue from the acquisition, but will get the benefit in 2022 of the full year of U.S. operation revenues in 2022.
Some additional highlights of the year included the Company delivering well over 3 million packages, an increase in business with Amazon and onboarding new customers in the B2B space to both further diversify and grow our customer base, while increasing operating margins.
Additionally, we completed two capital financings, opened our first warehouse in the Vancouver area in June 2021, added to our bench strength with additional staff members, and acquired numerous vehicles as we expanded into new markets.
"The past year’s actions we took to increase our revenue, increase our operating margins and diversify our customer base have placed our Company in a better position to deliver value to our customers during the crisis caused by the COVID-19 pandemic, and beyond," said ParcelPal’s CEO Rich Wheeless. "During a time when we have seen massive layoffs globally, our lean, nimble and talented team has managed to provide world class service while we continue to onboard new B2B clients. We also hit our largest milestone to date with our first completed acquisition in the United States, which we are using to rapidly expand operations in the United States. I am most proud of the fact that we are better capitalized to execute the Company’s expansion and growth plans, including a continued expansion through organic growth, strategic transaction and/or acquisitions, which we will update as these items develop and consummate."
Click on the link for Financial and Quarterly Highlights.
starboy
3 years ago
ParcelPal Logistics Inc. Reports Record Third Quarter 2021 Financial Results Highlighted by Quarterly year over year Revenue Growth of 18%, Coupled with a 434% Increase in Gross Margin
PR link:
https://finance.yahoo.com/news/parcelpal-logistics-inc-reports-record-123000318.html
PTNYF
-3.17%
VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- ParcelPal Logistics Inc. (“ParcelPal” or the “Company”), (OTC:PTNYF) (CSE:PKG) (FSE:PT0) is pleased to announce its Q3 2021 financial results highlighted by continued revenue growth of 18% and a 434% increase in gross margin compared to the same period 2020.
Overview
In Q3 2021, the Company continued its financial improvement, with gross revenue of approximately $1.74 million compared to $1.47 million in Q3 2020. Most notable is that our gross margin had a 434% increase from 2.7% in Q3 2020 to 12.0% in Q3 2021. Continued diversification of our customer base has continued to stabilize our revenue, driven by revenue out of the pharmaceutical, meal kit and retail spaces. The Company also moved into its first warehouse in the Vancouver area in July, which will allow us to both engage larger customers and expand with existing customers. This will also enable us to benefit from the economies of scale, and to further diversify our business including through warehousing opportunities for clients, which is a cost-effective solution for certain industries that are being affected by the burgeoning supply chain issues. We will look to add additional warehouse space in the United States as opportunities and needs arise as part of our growth plan.
Our continued solid revenue growth and jump in gross margin are, in large measure driven by our business expansion plan. To this end, we continue to invest in our service offerings, ramp up our staffing levels to meet the increase in business, and increase our focus on client diversification and higher margin customers.
Of important note is that our Q3 revenue growth and significant increase in operating margins comes outside of our United States business acquisition (which only accounts for roughly two weeks of the U.S. business in this quarter). The gross revenues generated to date from the U.S. acquisition are in-line with our expectations and will begin to be reflected in Q4 and our next fiscal year.
CEO Rich Wheeless stated, "The actions we have taken to increase our gross margin and expand our service offerings have placed our Company in a better position to deliver value to our customers during the crisis caused by the COVID-19 pandemic, and beyond. I am very encouraged by the continued growth in revenue and jump in gross margins which I see continuing as the Company expands into new and profitable markets in the current and future quarters. Additionally, our first acquisition in mid-September in the western United States and recently announced LOI for a second U.S. acquisition involving an entirely new and significant customer will allow us to capitalize on internal synergies, as each of the U.S. acquisitions are in the western United States. We will continue to take actions to strengthen our core business, which are intended to increase shareholder value with each expansion, addition and/or new customer signing."
Q3 2021 Financial Highlights:
September 30, 2021 compared to September 30, 2020 - Financial Highlights:
Revenue growth of 18.4% to $1,736,770 (compared from $1,466,528 in Q3 2020). Note: this was a record high for Q3 revenue since the inception of the Company. Also, without incorporating the two weeks of revenue of the acquisition of $117,979, revenue was $1,618,719 which was growth of 10.4% over the same period in 2020.
Gross profit jumped to $208,711 (up from $39,877 in Q3 2020). Also, Q3 gross margins increased to 12.0% (up from 2.7% in 2020). This was driven by a focus on higher margin corporate customers.
Cash of $166,258 at September 30, 2021, compared to $255,668 at December 31, 2020, and vehicles and right-of-use assets of $756,115 compared to $343,699 at December 31, 2020. Of note, we have an untapped equity facility of $5M available to us at our discretion, which we implemented in December 2020.
Consulting fees decreased to $35,356 (2020 - $39,295) as the Company decreased the number of personnel in the Company as it continues to streamline its processes and operations.
Marketing and promotion decreased to $317 (2020 - $19,655) as the Company continues to streamline its processes and operations.
Management and director fees increased to $1,492,536 (2020 - $223,542) and is consideration paid to the CEO and CFO of the Company and as a result of compensation shares issued to Directors and Officers.
Administrative, office and miscellaneous expenses decreased to $208,418 (2020 - $369,831) as the Company continues to streamline its processes and operations to become leaner and more efficient.
Salaries decreased to $177,576 (2020 - $265,624) primarily due to efforts to streamline operations.
Share-based compensation decreased to $Nil (2020 - $34,827) due to no stock options being granted during the current period.
The Company recorded interest expense of $155,110 (2020 - $27,242) primarily related to interest and accretion on the convertible notes.
During the three months ended September 30, 2021, Company had a net loss of $2,182,417 compared to $1,095,404 during the three months ended September 30, 2020. Note: $1.43M was because the Company issued 13,000,000 common shares, fair valued at $1,430,000 in lieu of management fees (non-cash expense), around $100K in professional fees related to the acquisition and also recorded a net loss on the new acquisition of $136,193 for the ramp up for growth.
Subsequent to the period ended September 30, 2021, a few notable events occurred, including:
On October 18, 2021, the Company announced that it has changed its auditor from Dale Matheson Carr-Hilton LaBonte LLP (“DMCL”) to BF Borgers CPA, PC (“BF Borgers”) as its independent registered public accounting firm. The Board of Directors of the Company approved the appointment of BF Borgers as the Company’s independent registered public accounting firm for the fiscal year ended December 31, 2021, effective October 14, 2021.
On October 5, 2021, the Company announced it signed a letter of an intent to acquire another United States delivery service company (the “Acquiree”). The total purchase price (the “Purchase Price”) is expected to be one time actual revenue of the Acquiree’s first 12 months of operations (expected to be USD $1,400,000), based on an earn-out schedule to be set forth in the definitive agreement, which will be payable in cash (60%) and in shares of ParcelPal’s common stock (40%), the stock portion of which shall be priced at-market based on the closing price of the common stock following the closing of the transaction. Under the terms of the proposed transaction, this will be an asset sale and ParcelPal will acquire 100% of the Acquiree’s outstanding assets and revenues generated from this delivery service location, which is located in the western region of the United States.
Outlook
The Company's strategic priorities for the remainder of fiscal 2021 include:
Continued expansion into large markets in Canada, and the further expansion into the United States market.
Continued improvement in operating performance, and diversification of our customer base.
Building an exceptional and world-class brand with a focus on signing quality partners.
Using data, technology, and in-bound sales to ramp up sales and revenue generation.
The Company's complete financial results are available in its unaudited Financial Statements and Management's Discussion and Analysis for the quarter ended September 30, 2021, each of which have been filed with Canadian and United States securities regulators, respectively at www.sedar.com and www.sec.gov.
The Company plans on providing a further update this week on both a new customer contract and further United States expansion.
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 in major Canadian cities including Vancouver, Calgary, and Toronto, and now in the western region of the United States. 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. The information in this news release is not complete. For a more complete description of all items referenced herein, please see our annual report on Form 20-F filed with the Securities and Exchange Commission and in our MD&A filed on Sedar, each as filed on the same date of this news release.
OTC – Symbol: PTNYF
CSE – Symbol: PKG
FSE – Symbol: PT0
Contact Information
Investor Contact
info@parcelpal.com
T: (587) 883-9811
Company Contact
Rich Wheeless, CEO, CFO, and Director
ParcelPal Logistics Inc.
rich.wheeless@parcelpal.com
T: (614) 395 7778
AskMuncher
4 years ago
$PTNYF ParcelPal Announces the Execution of Two More Customer Agreements and Further Company Expansion
Press Release | 09/17/2020
VANCOUVER, British Columbia, Sept. 17, 2020 (GLOBE NEWSWIRE) -- ParcelPal Technology Inc. (“ParcelPal” or the “Company”), (PKG:CSE) (FSE:PT0) (OTC:PTNYF) is pleased to announce that, as part of the Company’s continuing growth plan, it has signed two additional customer agreements over the past week, which are in addition to the numerous customer agreements and expansion arrangements in the past month. The first such agreement is with Adele Ray Florist Ltd., another flower subscription service based in Vancouver, for which we will be providing delivery services in Burnaby, Vancouver and numerous surrounding Lower Mainland areas. The second such agreement is with Discover Dogs, a pet supply store for which we will be providing delivery services in the greater Vancouver area. ParcelPal will be providing same-day and next-day delivery services for these two companies.
Additionally, as part of the Company’s continued expansion and growth plan, we are in the process of executing a lease agreement for a large warehouse in Vancouver. This will allow us to service some of the new customer agreements more efficiently and more cost-effectively. This will also have the added benefit of enabling us to expand and scale faster. In this regard, the Company has recently acquired numerous new vehicles to help with the demand and the increased growth we have experienced, and which we anticipate will experience as a result of our added warehousing and delivery capabilities. We believe that, based on an anticipated surge of holiday online delivery needs and expanded business opportunities, we may have the need for an additional larger warehouse in one of our other major cities in which we operate, which is subject to a number of factors and consideration in the normal course of an operating business; however, we will provide a future update if and when we execute on such second warehouse facility.
CEO Rich Wheeless stated: “I am not only pleased to be able to sign these new customer agreements, but also very excited to have our first warehouse to better service our larger customers. This has been an important goal of mine since I was appointed CEO, as it marks a major growth milestone for the Company. With this, it will also help us to have higher margins and be more efficient in our route planning and execution. As I have mentioned in the past, we have seen a significant uptick in our demand that I see continuing beyond this year and into 2021. We have been putting important pieces of our business puzzle in place to be able to continue to be an increasingly trusted leader in this space.”
The Company looks forward to providing a further update in the coming weeks.
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, Toronto 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: re: Investor Inquiries - info@parcelpal.com
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.
aries4747
5 years ago
PTNYF(.1789): ParcelPal Continues National Expansion Strategy by Launching in Toronto, Ontario
PR Newswire
VANCOUVER, British Columbia, July 18, 2019 /PRNewswire/ -- ParcelPal Technology Inc. ("ParcelPal"), (PKG.CN) (PT0.F) (PTNYF) is pleased to announce that it plans to continue its national rollout to Ontario, aiming at Canada's financial capital, Toronto, as its initial launching point.
ParcelPal has secured an office in Toronto, and is currently onboarding all key personnel to fill all necessary roles for the upcoming launch, which is expected to occur shortly. ParcelPal is also actively looking to expand with new and existing partnerships within this region.
ParcelPal's mission is to exponentially grow its business by making mobile on-demand deliveries a common, widespread service throughout cities across Canada. The Company has been operating successfully in Vancouver, Calgary and Saskatoon and is now focusing its expansion plans in Ontario as part of its on-going strategy for Canada wide distribution. As the largest market in Canada, the Province of Ontario has over 14 million residents and represents a significant increase in the size of the markets currently being serviced by ParcelPal.
Following the announced partnership with Cowbell Brewing Co. ("Cowbell") last month, ParcelPal plans to start servicing clients in Ontario starting with the Greater Toronto Area ("GTA") and later rolling out to other cities within Ontario.
ParcelPal will be launching with all verticals offered (Food, alcohol, grocery, and 'Get Anything'). ParcelPal is also in late stage planning for implementation of cannabis delivery in the province of Ontario. ParcelPal will make entry to strategic urban cities in the Province during its first and second phase of its rollout plan. This in turn will allow ParcelPal to continue its rapid growth whilst ensuring a superior customer experience as witnessed in other cities that are currently being serviced by ParcelPal.
President and CEO, Kelly Abbott states, "We are very pleased to be able to offer ParcelPal services to the residents of Toronto. Ontario is Canada's largest province, and we are excited by the opportunity that it presents to us and our shareholders. We feel an expansion to Ontario will bring great value to our various stakeholders and with the up coming launch will be the cornerstone for all expansions moving forward. Our increased investments in technology, brand and delivery are on track to make our service even easier to use, whilst expanding our customer's choices. I'm pleased with the strong results of the past year and excited by our opportunity for accelerated growth across Canada."
Director and Chief strategy officer Peter Hinam states, "We have worked long and hard to achieve this important milestone in our company's growth. We feel it will bring ParcelPal to the next level by offering our unequal service in Canada's most populated city."
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. ParcelPal 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
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.
aries4747
5 years ago
U.S. CBD Sales to Grow to $23.7 Billion in Just Five Years
PRNewswire
PALM BEACH, Florida, July 16, 2019 /PRNewswire/ -- Cannabis has quickly become one of the fastest growing industries we've seen in quite some time. With Canada legalizing recreational cannabis in 2018, and a growing number of U.S. states approving its recreational and, or medicinal use, sales are just beginning to tick higher. However, within that industry, the CBD industry is just beginning to boom. In fact, a report from Brightfield Group says CBD sales could explode to $23.7 billion by 2023 – a five-year compound annual growth rate (CAGR) of 100%. "The bulk of this growth is coming from large retailers like CVS, Walgreens, and Kroger entering the market and providing that availability to consumers," says Brightfield Managing Director, Bethany Gomez. That's opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), SLANG Worldwide Inc. (CSE:SLNG)(OTCPK:SLGWF), Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF), Harvest Health & Recreation Inc. (CSE:HARV)(OTCQX:HTHHF), and Origin House (CSE:OH)(OTCQX:ORHOF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced it has formed an alliance with ParcelPal Technology Inc. for same day and on demand delivery of hemp-based cosmetics. This initiative between Yield Growth and ParcelPal will commence in Vancouver, and it is expected that additional cities will be rapidly added to this distribution network across Canada. Urban Juve's customers will be able to purchase through Urban Juve's website (www.urbanjuve.com) and ParcelPal will create an exclusive marketplace applications. President and CEO of The Yield Growth Corp. Penny Green states "This new agreement is part of our continued efforts to serve our customers as seamlessly as possible," says Penny Green, CEO of Yield Growth. "ParcelPal is a great service, and our partnership will lay the groundwork for us to eventually offer same-day delivery service for pain management cannabis topicals and other cannabis products in jurisdictions where they're legal." For more information on BOSS, please visit: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
SLANG Worldwide Inc. (CSE:SLNG)(OTCPK:SLGWF) announced that its RESERVE line of vaporizer cartridges is now on sale in the State of Florida through Trulieve Cannabis Corp. RESERVE is the first SLANG product to be offered in Florida under its strategic partnership with Trulieve announced in February 2019. As Florida's largest fully integrated medical cannabis company, Trulieve is offering RESERVE at all 29 of its licensed dispensaries across the state. "Our Trulieve relationship is off to a great start. This product launch is an important milestone, and the first of many we look forward to reaching in Florida," said Peter Miller, CEO of SLANG. "We expect RESERVE to be very well received in Florida by medical cannabis patients who are seeking a strain-specific, repeatable experience at an affordable price." "Expanding patient access to high-quality, natural relief in safe, reliable, and innovative forms is an important factor in deciding who we partner with and what products we offer to patients. Our partnership with SLANG allows us to continue providing patients with an expanded variety of high-quality medication," said Kim Rivers, CEO of Trulieve. "We know patients in Florida will benefit greatly from their award-winning products."
Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise and Essence retail stores, announced it will open its fourth retail location in Florida, Rise Oviedo, the community's first cannabis store, on July 9, 2019. This is GTI's 26th open location in the country. Rise Deerfield Beach, Rise Pinellas Park and Rise Bonita Springs all opened earlier this year, and GTI has a retail footprint for up to 35 stores throughout Florida. The company owns and operates a manufacturing facility in Homestead where it cultivates and produces GTI's branded cannabis products including Rhythm and The Feel Collection. "We are honored to be the first company to provide access to medical cannabis in Oviedo and to help Floridians exercise their right to wellness," said GTI Founder and Chief Executive Officer Ben Kovler. "Our Rise™ stores provide exceptional customer care and we're thrilled to serve the people of Oviedo and surrounding communities."
Harvest Health & Recreation Inc. (CSE:HARV)(OTCQX:HTHHF) announced it will open its
compassion center, Harvest of Williston, for qualifying patients and caregivers today. Solidifying Harvest's presence in the state, the North Dakota Department of Health (NDDoH) Division of Medical Marijuana previously awarded Harvest two medical dispensary locations, for the Williston location and an upcoming compassion center in Bismarck. Harvest, known for top operational standards, best-in-class experiences and products and expert teams in developing trusted, quality-driven retail stores with a focus on bettering the community, received the highest score on its application in Williston. Harvest of Williston, located at 120 26th Street East, Unit #500, will operate under North Dakota Century Code and offer products direct from registered North Dakota manufacturing facilities under the Medical Marijuana Program. "We are proud to bring our expertise to North Dakota and deliver on our promise to provide patients across the country with high-quality medicinal products and expert staff," said Harvest CEO Steve White. "We share North Dakota's commitment and dedication to only allowing the highest standards of operations in the state. We are thrilled to partner with them to open Williston and for our upcoming Bismarck location."
Origin House (CSE:OH)(OTCQX:ORHOF) and Trichome Financial Corp. are pleased to announce that each of 22 Capital and Trichome Financial have received unanimous approval from their respective shareholders for their announced amalgamation under the provisions of the Business Corporations Act (Ontario) that will result in a reverse take-over of 22 Capital by the shareholders of Trichome Financial. The Transaction, if completed, will constitute 22 Capital's "Qualifying Transaction" as such term is defined in Policy 2.4 of the TSX Venture Exchange. Currently a subsidiary of CannaRoyalty Corp. d/b/a Origin House, Trichome Financial is a private corporation. Each of Trichome Financial and Origin House exists under the laws of the Province of Ontario. The Transaction is being undertaken pursuant to the terms and conditions of the amalgamation agreement between 22 Capital and Trichome Financial dated November 13, 2018, as amended January 30, 2019, April 5, 2019 and May 27, 2019. Final approval of the Transaction is subject to the fulfillment of certain conditions set out in the Exchange's conditional listing approval letter in respect of the Transaction. Trichome Financial expects to satisfy such conditions, including the closing of its subscription receipts financing, on or before August 9, 2019.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated twenty-five hundred dollars for news coverage of the current press release issued by The Yield Growth Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
aries4747
5 years ago
PTNYF(.1817): May 7, 2019 ParcelPal Announces 2018 Financial Results
https://www.prnewswire.com/news-releases/parcelpal-announces-2018-financial-results-300845496.html
VANCOUVER, British Columbia, May 7, 2019 /PRNewswire/ -- ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (CSE: PKG) (FSE: PT0) (OTC: PTNYF) ParcelPal Technology Inc. is pleased to announce the results of 2018. ParcelPal technology has provided the audited financial statements for the first year ended December 31st 2018, and has filed the statements on SEDAR. The total audited gross revenue for the fiscal year 2018 is $3,369,630.
2018 Financial Highlights:
Total gross revenue up 825% in fiscal 2018 versus the year ended December 31st, 2017.
EBITA of $1,371,782.
Total cash on hand is $2,080,000 with 605,342 in accounts receivables.
Gross profits of $802,035, representing a gross profit margin of 24%.
Received $1,335,792 from exercising of warrants.
2018 Operating Highlights:
Over 300 live locations.
Hit milestone of 2,000,000 packages delivered.
Launched service in Calgary.
Delivered over 2,000,000 packages total.
President and CEO Kelly Abbott, states, "I am extremely pleased with the progress of our operations and our financial position ending in 2018. We will continue to push the business in our current market and strive to engage new markets within the year. Our core operations are stable and contributing to our overall strategic initiatives. We remain well capitalized and well positioned to achieve our goals of expansion and addition of new delivery verticals for the next 12 months."
Outlook
ParcelPal intends to pursue a number of technology, product and marketing initiatives to continue to drive growth in 2018. The company's strategic priorities include:
Grow monthly reoccurring revenues by engaging new and acquired customers.
Grow monthly reoccurring revenues by engaging new and acquired merchants.
Continue to launch multiple delivery verticals.
Further grow the technology platform and offer ParcelPal on multiple platforms
Broaden our geographic footprint across Canadian cities and build on our current markets in Calgary, Saskatoon and Vancouver.
IFRS
The operational and financial information in this release is based on the consolidated figures in accordance with International Financial Reporting Standard (IFRS)
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.
Contact:
Peter Hinam, Director
Investor Relations
peter@parcelpal.com
+1-604-401-8700
SOURCE ParcelPal Technology Inc.
Related Links
http://www.parcelpal.com
aries4747
5 years ago
PTNYF: ParcelPal Announces Distribution Agreement with The Yield Growth Corp.
July 16, 2019 -- (ParcelPal Technology Inc.) --
(TheNewswire)Vancouver, British Columbia, Canada - TheNewswire - July 16, 2019 - ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (CNSX:PKG.CN) (FSE:PT0) (OTC:PTNYF) is pleased to announce that it has formed an alliance with Canadian cannabis topicals company, The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (Frankfurt:YG3) ("Yield Growth") for same day and on demand delivery, sale, of hemp based cosmetics from Yield Growth's subsidiary Urban Juve in Canada.
This initiative between Yield Growth and ParcelPal will commence in Vancouver as the catalyst city, and it is expected that additional cities will be rapidly added to this distribution network across Canada. Urban Juve's customers will be able to purchase through Urban Juve's website (www.urbanjuve.com) and ParcelPal will create an exclusive marketplace applications. Urban Juve hemp products are currently sold in over 90 locations including well known pharmacy chains across North America, with a plan to expand that to 130 retail outlets in the near future.
Customers will be able to track their purchase in real time and have their product delivered to any location they specify. As time and regulations allow, ParcelPal's cannabis network will continue to grow, with the goal of capturing a major piece of Canada's $5.2B legal cannabis market.
President and CEO, Kelly Abbott states, "ParcelPal is thrilled to be working an innovative company such as The Yield Growth's Corp, which is addressing one of the fastest-growing subsegments of the $4.2 trillion wellness market with unique derived and cannabis infused products. This marks a milestone at ParcelPal, launching a new vertical with substantial growth potential. It's also a unique opportunity to be at the forefront of an exciting new industry with our unique logistics solutions."
President and CEO of The Yield Growth Corp. Penny Green States "This new agreement is part of our continued efforts to serve our customers as seamlessly as possible," says Penny Green, CEO of Yield Growth Corp. "ParcelPal is a great service, and our alliance will lay the groundwork for us to eventually offer same-day delivery service for pain management cannabis topicals and other cannabis products in jurisdictions where they're legal."
About The Yield Growth Corp.
The Yield Growth Corp. develops, manufactures and distributes cannabis and hemp infused luxury product brands Urban Juve and Wright & Well, and has a catalogue of over 200 wellness and beauty formulas. It intends to disrupt the international wellness market which is a 4.2 trillion global economy, according to the Global Wellness institute, by connecting ancient healing with modern science and technology. It's management team has deep experience with global brands including Johnson & Johnson, Proctor and Gamble, M-A-C cosmetics, Sketchers, Best Buy Aritzia, Coca-Cola, and Pepsi Corporation. Yield Growth Serves mainstream luxury customers who seek sophisticated wellness products. It has flagship consumer brand, Urban Juve, has proprietary, patient pending hemp root extraction technology and has 12 patents pending. Yield Growth is building sophisticated international distribution channels and has multiple revenue streams including licensing, services and products.
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 - peter@parcelpal.com
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.
Copyright (c) 2019 TheNewswire - All rights reserved.
> Dow Jones Newswires
July 16, 2019 03:01 ET (07:01 GMT)
PLEASE READ THE IMPORTANT DISCLOSURES BELOW.
aries4747
5 years ago
ParcelPal client Choom Surpasses $49,000 in Opening Day Sales at the Niagara Flagship Cannabis Store
CNW GroupJune 17, 2019
VANCOUVER , June 17, 2019 /CNW/ - Choom™ (CSE: CHOO; OTCQB: CHOOF), is pleased to announce that Choom Niagara, the first legal, adult use cannabis store to operate in Niagara Falls, ON has produced over $49,000 in sales on its opening day.
Opening of Choom Niagara (CNW Group/Choom Holdings Inc.)
"We are really happy with the turnout we had for Choom Niagara's opening day." states Chris Bogart , President and CEO of Choom "We've had a lot of support from the local community, and we're excited to bring Choom to Niagara Falls . The feedback from our customers has been fantastic, and that is a testament to our dedicated staff and in-store experience. Doing over $49,000 in sales on the first day of operation is a great milestone for us and our team who have worked so hard to get where we are today."
Choom Niagara is located at 7555 Montrose Rd., Unit E3, Niagara Falls, Ontario . Opening hours are 10am – 8pm (Monday to Wednesday), 10am – 10pm (Thursday to Saturday) and 11am – 6pm (Sunday). For more information, visit choom.ca.
Say hello to ChoomTM
Choom™ is an emerging adult use cannabis company whose mission is to establish one of the largest retail networks in Canada and the United States . The Choom brand is inspired by Hawaii's "Choom Gang"—a group of buddies in Honolulu during the 1970's who loved to smoke weed—or as the locals called it, "Choom". Evoking the spirit of the original Choom Gang , our brand caters to the Canadian adult use market with the ethos of 'cultivating good times'. Choom™ is focused on delivering an elevated customer experience through our curated retail environments, offering a diversity of brands for Canadians across a national retail network.
"Chris Bogart"
President & CEO
Cautionary Statement:
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking information
This news release contains forward-looking information relating to the Company's proposed activities and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and include statements or information regarding the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include risks and uncertainties associated with or arising as a result of delays in obtaining or an inability to obtain required regulatory approvals, access to sufficient quantities of cannabis, the results of diligence investigations, the actions of third parties, the results of negotiations with third parties, developments in the cannabis sector, the ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings, including those made with the CSE and applicable Canadian securities regulators. There can be no assurance that such forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.
aries4747
5 years ago
ParcelPal Announces Partnership with Ontario Craft Brewery Cowbell
ACCESSWIRE June 26, 2019
VANCOUVER, BC / ACCESSWIRE / June 26, 2019 / ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (PKG.CN) (PT0.F) (PTNYF) is pleased to announce that it has formed a strategic partnership with Ontario based craft brewery Cowbell Brewing Co. ("Cowbell").
As part of the Company's national rollout strategy, ParcelPal is acquiring customers within the Ontario region in preparation for expansion, Cowbell being the first. Customers will be able to purchase product, track their purchase in real time and have their product delivered to any location they specify in under an hour.
Cowbell, Canada's Destination Brewery, is owned by the Sparling family which has entrepreneurial roots in Blyth, Ontario, going back three generations. The ambitious project employs over 170 people and is designed to have a positive local community impact and contribute to regional tourism opportunities. Cowbell is an environmentally responsible company, featuring the World's First Closed-Loop Brewing System and Cowbell will be North America's First Carbon Neutral Brewery. Cowbell brands are currently available across Ontario through the LCBO, The Beer Store, grocery stores, restaurants, and pubs.
In collaboration with ParcelPal, Cowbell and MADD Canada are confident that this program will not only enable consumers unfettered access to alcoholic beverages 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 liquor stores for product.
President and CEO, Kelly Abbott states, "We are thrilled to be working with Cowbell on this vertical for our future expansion into Ontario. They have a very well recognized and established brand across the province. Using ParcelPal as an online ordering platform will help Cowbell increase inventory turnover and create an alternative sales channel. Customers will now be able to enjoy Cowbell product offerings without leaving the comfort of their homes."
Customers who order alcoholic beverages through ParcelPal will be required to provide their date of birth at checkout to confirm they are 19 years or older. In order for the package to be delivered, a recipient 19 or older must also be present to sign for the delivery and show proof of legal age with a valid photo ID.
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 - peter@parcelpal.com
Forward Looking Information
We seek safe harbor
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.
aries4747
5 years ago
ParcelPal Begins Integration on Shopify Platform for Cannabis Delivery
News provided by
ParcelPal Technology Inc.
Jun 17, 2019, 09:08 ET
VANCOUVER, British Columbia, June 17, 2019 /PRNewswire/ -- ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (CSE: PKG) (FSE: PT0) (OTC: PTNYF) is pleased to announce the integration of ParcelPal's app on the Shopify's digital platform. The integration will be complete in the coming weeks.
Shopify is an eCommerce platform provider that gives retailers everything they need to build and operate a successful online store. Shopify is the leading eCommerce provider for merchants in North America in retail and specifically cannabis within Canada.
Canadian Licenced producers on the Shopify platform, can use this technology to enable shipping to medical or recreational users across the country (https://www.shopify.ca/sell/cannabis). Since recreational cannabis was legalized in Canada at the government-operated websites and private retailer portals powered by Shopify have processed "hundreds of thousands" of orders.
Businesses of any kind, notably cannabis merchants will be able to integrate their Shopify eCommerce store nearly instantly to ParcelPal's ecosystem. These merchants will enable their customers to tap into ParcelPal's network and have their products delivered in an hour or less. ParcelPal has begun this process with Choom (CSE: CHOO) (OTCQB: CHOOF) and Kiaro. ParcelPal's integration will be accessible by the public in the coming weeks.
President and CEO, Kelly Abbott states, "This integration and offering on the Shopify platform will allow for any cannabis business to instantly integrate with our technology. Instead of lengthy and expensive integrations with current and potential partners, this will cut it down dramatically."
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.
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.
Contact
Peter Hinam
Director, Investor Relations
peter@parcelpal.com
+1-604-401-8700
SOURCE ParcelPal Technology Inc.
Related Links
http://www.parcelpal.com/
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