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Parcelpal Logistics Inc - PTNYF STOCK NEWS

Welcome to our dedicated page for Parcelpal Logistics news (Ticker: PTNYF), a resource for investors and traders seeking the latest updates and insights on Parcelpal Logistics stock.

ParcelPal Logistics Inc (PTNYF) delivers innovative last-mile solutions and logistics services across North America, serving healthcare, retail, and technology sectors. This news hub provides investors with timely updates on corporate developments, financial performance, and strategic initiatives shaping the company's growth.

Access official press releases covering earnings reports, partnership announcements, and operational expansions. Track ParcelPal's diversification into data center hosting and antminer operations through verified updates about utility collaborations and infrastructure developments.

Our curated news collection enables stakeholders to monitor key business metrics including service expansions, client acquisitions, and risk management strategies. Stay informed about regulatory compliance updates and corporate governance matters through primary source documentation.

Bookmark this page for streamlined access to ParcelPal's evolving business narrative. Check regularly for updates on logistics network optimizations, technology integrations, and market positioning developments essential for comprehensive investment analysis.

News

ParcelPal Announces Consulting Agreement, Debt Settlement and Compensation Shares

Rhea-AI Summary
ParcelPal Logistics Inc. announces the retention of Richard Underhill to develop its Warehousing Division, with a fee of $10,000 USD per month for three months and potential extension. Mr. Underhill to receive shares upon establishment of warehouse and crypto mining facilities.
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ParcelPal Logistics Begins Expansion of its Warehousing Division with an LOI for its First Hybrid Facility in the United States

Rhea-AI Summary
ParcelPal Logistics Inc. has signed a non-binding Letter of Intent with a data center equipment manufacturing company to expand its warehousing footprint and related revenues in 2024. The company plans to lease a U.S. based hybrid facility and sublease space to the client for setting up 10,000 antminer machines. The goal is to diversify the business and achieve 100% occupancy and net profitable operations.
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ParcelPal Logistics Announces the Largest Volume Days in the History of the Company

Rhea-AI Summary
ParcelPal Logistics Inc. (PTNYF) has experienced its largest volume days in the history of the Company, with a 20% higher volume in the United States than originally projected. The CEO remains bullish for 2024, citing unprecedented business and growth opportunities. The Company has also been granted a six-month extension to hold its 2023 Annual General Meeting.
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ParcelPal Logistics Announces November 2023 Financial Results Led by Continued Record Margins and Increased Operational Profits

Rhea-AI Summary
ParcelPal Logistics Inc. (PTNYF) reports consecutive month of operating profitability with a 30% gross margin in November 2023, following their best third quarter in company history. CEO Rich Wheeless anticipates a strong finish to the year and foresees even stronger growth opportunities in 2024.
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ParcelPal Logistics Inc. Reports All-Time Record Results Since Inception and Third Quarter 2023 Results Highlighted by a Company-Wide Near Breakeven Bottom Line, Record Margins and Record Revenue

Rhea-AI Summary
ParcelPal Logistics Inc. (PTNYF) announced record Q3 2023 financial results with a 39% revenue growth to approximately $3.7M, 39.6% gross margins, and a 91% decrease in net loss. The company's largest Q3 of gross revenue and operational efficiencies are expected to lead to a fully profitable Q4 2023.
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ParcelPal Logistics Announces Extension of Contract with Its Second Largest Customer Leading to Increasing Rates on Deliveries, Higher Package Counts and Expansion Opportunities

Rhea-AI Summary
ParcelPal Logistics Inc. (PTNYF) announces the extension of its contract with its second largest customer, accounting for 20% of its revenue, for at least another year. The renewed contract includes more favorable terms for ParcelPal, with increasing rates on deliveries and higher package counts. CEO Rich Wheeless anticipates accelerated growth with this customer for the remainder of 2023 and into 2024, with plans to obtain additional sites outside of existing geographic locations.
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ParcelPal Logistics Announces October 2023 Results Led by Record Margins Resulting in Operational Profits

Rhea-AI Summary
ParcelPal Logistics Inc. (PTNYF) announces another month of operating profitability in its U.S. business, with a record 28% gross margin for October 2023, driven by more profitable business with its second largest customer. CEO Rich Wheeless expressed optimism for the rest of Q4 and 2024, highlighting the company's renewed focus and future growth opportunities.
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ParcelPal Logistics Announces Adding 20 Electric Delivery Vehicles to its Fleet in the United States Increasing Productivity and Efficiency

Rhea-AI Summary
ParcelPal Logistics Inc. has acquired 20 electric delivery vehicles in the United States, aiming to have 50% of its delivery fleet be composed of electric vehicles by the end of 2024 and fully electric by the end of 2026. The use of electric vehicles not only contributes to environmental sustainability but also saves approximately one hour per day on driver's routes due to the vehicles' interface with the delivery app.
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ParcelPal Logistics Inc. Announces a Shift in Strategy Towards Further U.S. Expansion and Shedding Money Losing Business Units

Rhea-AI Summary
ParcelPal Logistics Inc. announces a shift in focus and resources to its growing U.S. operations, terminating its largest Canadian contract. The company's revenue growth and record margins have been driven by expansion in the U.S. market. The U.S. operations have achieved net profitability since June 2023, while the Canadian side has sustained substantial net operating losses. The strategic decision to focus on the U.S. operations is expected to result in a higher return on investment and greater shareholder value. The company will continue to pursue high margin customers in Canada.
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ParcelPal Logistics Inc. Reports Record Second Quarter 2023 Results Highlighted by All-Time Record Margins, a Near Company-Wide Breakeven Bottom Line and Significant Revenue Growth

Rhea-AI Summary
ParcelPal Logistics Inc. announces record Q2 2023 financial results with revenue growth of 17% to $2.9M, record gross margins of 27%, and a 92% decrease in net loss. US operations turned net positive in June 2023. Strategic priorities include improving operating performance, expanding in Canada and the US, and signing quality partners.
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Parcelpal Logistics Inc

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345.13k
27.40M
0.68%
Integrated Freight & Logistics
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