ParcelPal Technology Inc.
PKG News Release - ParcelPal Announces Marijuana Strategy
Thursday, September 13, 2018 8:00 AM
VANCOUVER, BC / ACCESSWIRE / September 13, 2018 / ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (CSE: PKG) (FSE: PT0) (OTC PINK: PTNYF) - is pleased to give further insight into their cannabis plan for Federal legalization in Canada on October 17th, 2018.
As part of ParcelPal's strategy moving forward, the Company plans to take advantage of the bourgeoning marijuana market imminently. The marijuana vertical proposes a large opportunity and catalyst for ParcelPal to launch into many urban areas across Canada. The Company has been speaking with Provincial Government regulators and Crown Corporations to best assess how to implement and execute on their strategy going forward with recreational and medicinal marijuana. Additionally, the Company has been speaking with major LP's to ensure a supply and consistent demand to ensure a smooth execution into the industry.
For consumers, taking advantage of ParcelPal's service provides many benefits, such as:
- Quick Delivery: Getting their cannabis products/ancillaries delivered in an hour or less;
- Anonymity: Not having to visit a retail location and remaining anonymous;
- Mitigating Intoxication: No longer having to leave the house; mitigating the risk of driving while intoxicated;
- The ability to service both medicinal as well as recreational users.
Customers that order marijuana through the ParcelPal platform will be required to upload and verify their ID. Users that are under the age within their jurisdiction will not be allowed into this vertical on the application. The ID verification system ensures that the person is of age, the ID is in fact real, and is checked twice - once before, and upon delivery. Consumers who order product will have to be the person to receive the order. ParcelPal's technology complies with all local, provincial, and federal laws.
Additionally, ParcelPal's Cannabis vertical helps Major LP's & other suppliers of cannabis products with the following:
- Easy access to consumers, providing an omnichannel approach to sales and distribution.
- Quick delivery - the ability to deliver Cannabis products within an hour allows for immediate gratification for consumers; something others currently can't provide.
- Compliance with regulatory framework.
- Management team and board familiar with regulatory environments for a quick path to implementation.
- Increase business between existing players in the cannabis industry.
- Uninterrupted services, without strikes.
President and CEO Kelly Abbott states, "This is a critical time for the cannabis industry as a whole. Adult recreational use is on the precipice of becoming legal across Canada and we are poised to take advantage of the ancillary market yet to come. We are setting a standard in Canada for accessibility, safety, and professionalism." Abbott continued, "I believe attention from the investment community will shift from production to those who are supporting production and all things distribution."
The company's reach will enable access to data and further insights into patient and user demographics, preferences, behaviors, and patterns. ParcelPal plans on utilizing their delivery data to educate and inform regulators and LP's, which is essential for ensuring continued safe access for everyone within the industry.
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 - [email protected]
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.