Mr. Rich Wheeless reports

PARCELPAL ADDRESSES DELAYED ANNUAL REPORT FILING AND RELATED MATTERS

Parcelpal Logistics Inc.'s annual report filing, including on Form 20-F, due May 1, 2023, has not been timely filed due to unexpected delays in completing its audit and the certification of it, and not the result of any financial restatement, disagreements or other financial reporting issues. Under Canadian regulatory rules, the company was notified yesterday that its stock trading would be temporarily halted (in Canada only) until the filing of its annual report were completed in compliance with applicable rules and regulations of the Canadian Securities Exchange and the B.C. Securities Commission. In addition, on May 1, 2023, the company filed a Form 12b-25 (Notification of Late Filing) with the Securities and Exchange Commission, which grants the company an automatic 15-day extension to comply with its reporting obligation. The company now expects to file its annual report on or by May 15, 2023, prior to the expiration of the extension period provided by Rule 12b-25 under the Securities Exchange Act of 1934.

Parcelpal chief executive officer Rich Wheeless stated: "Over the course of [fiscal] 2022, we have significantly expanded and continually addressed operational diversification, which involved a lot of moving pieces, including through a second U.S. expansion, which has in part caused the audit to take longer than expected. Although the delay is not ideal by any means, rest assured the company is in good shape, and we look forward to sharing the FY 2022 annual report and press release highlighting these successes in the coming days. We do not expect such delays to occur again in the future."

About Parcelpal Logistics Inc.

Parcelpal, based in Vancouver, B.C., is a company that specializes in last-mile delivery service and logistics solutions. It is a customer-driven, courier and logistics company connecting people and businesses through its network of couriers in major Canadian cities, including Vancouver, Calgary and Toronto, as well as in the western region of the United States. Some of its verticals include pharmacy and health, meal kit deliveries, retail, groceries, and more.

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