ParcelPal Announces DTC Eligibility of its Common Shares in the United States

VANCOUVER, Oct. 18, 2018 /CNW/ - ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (CSE: PKG) (FSE: PT0) (OTC: PTNYF) is pleased to announce that they have obtained their DTC eligibility in the United States of America.

ParcelPal Technology, Inc.'s common shares have been made eligible for book-entry delivery and depository services of the Depository Trust Company to facilitate electronic settlement of transfers of its common shares in the United States. DTC eligibility will simplify the process of trading and is expected to enhance the liquidity of the Company's common shares on the OTC marketplace where ParcelPal trades under the symbol "PTNYF".

President and CEO Kelly Abbott states, "We are pleased to have obtained DTC eligibility. DTC will simplify the process of trading and exchanging ParcelPal's shares in the United States, which will benefit ParcelPal and our shareholders. We also expect that being DTC eligible will improve our overall share liquidity as our shares will be available to a broader range of investors as we continue to expand our footprint."

In addition to the trading in the US, ParcelPal's shares continue to trade on the Canadian Securities Exchange (CSE: PKG) and the Frankfurt Stock Exchange (FSE: PT0).

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: http://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.

SOURCE ParcelPal Technology Inc.

Peter Hinam, Director-Investor Relations, [email protected], [phone]