ParcelPal Technology Inc. , (CSE: PKG) (FSE: PT0) (OTC PINK: PTNYF) – is pleased to announce they have signed an agreement for Cannabis distribution with Vancouver, BC based Choom Holdings, Inc, (CSE: CHOO) (OTC: CHOOF) Canada’s leading cannabis retailer.
Further to the marijuana strategy announced on September 13, 2018, ParcelPal has made their first footprint into the marijuana industry through signing an agreement with Choom Holdings Inc. (CSE: CHOO). The Company received the agreement from Choom for the establishment of distribution from various retail outlets in Canada. The initiative will consist of:
Distribution: ParcelPal and Choom will jointly develop the optimal roadmap for distribution within various provinces for adult use cannabis.
Accessibility: Using Choom’s and ParcelPal’s platform to enhance user experience and accessibility to products offered.
Compliance: ParcelPal and Choom will ensure that all products will be delivered will be within the parameters set forth by all regulating bodies in Canada.
Safety: ParcelPal and Choom are dedicated to public safety by enabling safe access to product for consumers through an instant delivery channel; eliminating impaired driving.
President and CEO Kelly Abbott States, “We are extremely pleased and excited to have this agreement from Choom and fully intend to utilize other partnership opportunities to forward our national cannabis distribution and delivery strategy. Our contemplation is to be the Uber of cannabis for Canada and grow our revenues exponentially through this vertical.” Abbott continued, “Current options, such as Canada Post or other antiquated courier services are expensive, may take up to 7 days and are fraught with service interruptions such as strikes. With ParcelPal, consumers can get their requested product easily and safely within an hour. Our innovative technology enables seamless integration with any retail outlet for cannabis.”
President and CEO Chris Bogart from Choom states, “We recognize the importance of utilizing the existing technology of ParcelPal’s mobile app in concert with their outstanding track record of home delivery execution. We believe this will provide an exceptional customer experience and we are excited to offer this to our valued customers upon the upcoming rollout of our retail strategy.”
About Choom Holdings Inc.
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 is synonymous with cultivating good times with good friends. Choom is focused on delivering an elevated customer experience through our curated retail environments, high-grade handcrafted cannabis supply, and a diversity of brands for the Canadian recreational consumer. Find out more about Choom from their website: www.choom.ca
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.
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.
This news release contains forward looking statements relating to the Proposed Transaction, and the future potential of ParcelPal. Forward lookingstatements 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 lookingstatements 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.
Source: ACCESSWIRE (September 27, 2018 – 6:45 AM EDT)
Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.
Technical420 is dedicated to educating investors about the risk and rewards of investing in the cannabis industry. We highlight companies that have the most growth potential by utilizing our proprietary analytics platform.
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