Mr. Rich Wheeless reports

PARCELPAL LOGISTICS ANNOUNCES ITS FIRST APPROVAL OF MULTIPLE WAREHOUSE LOCATIONS FROM ITS ASIAN PARTNER

Parcelpal Logistics Inc. is following up on its previously announced entry into a letter of intent on Jan. 30, 2024, and subsequent release last week, on the submittal of numerous warehouses in multiple states for approval (relating to the company's intended warehousing expansion plan). The company is issuing this update to further inform shareholders that the company has received approvals on its first four warehouses from its Asian partners. The combined processing power potential for these four locations is 280 MW (megawatts). It will now move forward to contracts, site checks and final stages of due diligence. The goal is to have the first site on-line within the next 60 days contingent upon the outcome of the upcoming site checks.

Parcelpal will work to secure the appropriate agreements and negotiate favourable utility costs to maximize its revenue potential. Thereafter, Parcelpal will be able to initiate and accept the delivery of the hardware for installation at the approved facilities. The goal for the company is, upon consummation, to begin to generate the projected high-margin revenue derived from this partnership.

Chief executive officer Rich Wheeless stated: "We continue to make significant progress on this deal and I am excited that we have not only located numerous facilities, but that our client has approved them allowing us to take next steps. Also, with this bull market we are seeing in the crypto markets, I can assure you that getting this first facility open as quickly as possible is the priority. The revenue potential is excellent and we look forward to putting out further news and more specific details with respect to revenue projections very soon. As we continue to make further progress on this project, we intend to update shareholders every step of the way."

About Parcelpal Logistics Inc.

Parcelpal is a company based in Vancouver, B.C., 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. Some of its verticals include pharmacy and health, meal kit deliveries, retail, groceries, and more.

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