Mr. Rich Wheeless reports

PARCELPAL LOGISTICS ANNOUNCES OCTOBER 2023 RESULTS LED BY RECORD MARGINS RESULTING IN OPERATIONAL PROFITS

Parcelpal Logistics Inc. had another month of operating profitability (approximately $50,000 (U.S.)) in its United States business led by a record 28-per-cent gross margin for the month of October, 2023. This was driven by more profitable business with the company's second-largest customer. This is a great sign for the company as the fourth quarter tends to be the strongest for the company, and the company anticipates its U.S. operations in November and December to also be operationally profitable.

Chief executive officer Rich Wheeless stated: "I believe this is a great indicator for the rest of Q4, and while no one can guarantee every month to be a profitable one, this remains a significant positive event for our company. Our renewed focus on what the company does best, in the geographic regions that will be the focus of future growth as well, has led to this positive result. I am extremely proud of the work the team has accomplished during this time, especially given the challenging global and capital markets environment we have all been faced with. I look forward to finishing up the quarter (and year) strong, and for 2024 to be an even stronger year for us, including with the numerous U.S. growth opportunities that exist."

In addition to the company's Q3 earnings report being released by month's end, the company anticipates issuing a further press release to report on its November, 2023, performance in December.

About Parcelpal Logistics Inc.

Parcelpal is a Vancouver, British Columbia-based, company that specializes in last-mile delivery service and logistics solutions. The company is a customer-driven, courier and logistics company connecting people and businesses through its network of couriers. Some of its verticals include pharmacy and health, meal kit deliveries, retail, groceries, and more.

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