ParcelPal has signed new customer agreements.
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  • ParcelPal (PKG) has signed a series of new customer agreements over the past month
  • The company said its new customers include food companies in the gluten free, paleo and vegan industries
  • ParcelPal has also signed a deal with a weekly meal delivery kit company
  • The company said this will continue to help the company drive not only its revenue, but also improvement its operating performance
  • ParcelPal is down 8.82 per cent to C$0.16 per share

ParcelPal (PKG) has signed a series of new customer agreements over the past month.

The company said its new customers include food companies in the gluten free, paleo and vegan industries. It’s also signed a deal with a weekly meal delivery kit company.

ParcelPal said these new customer agreements do not involve national or large regional chain-type customers, however, they do provide for higher margins. The company said this will continue to help the company drive not only its revenue, but also improve its operating performance.

ParcelPal will be providing same day and next day delivery services for these companies to customers in multiple cities in which it operates.

CEO Rich Wheeless said he’s happy to sign more B2B customers to help sustain the company’s improvement in operating performance, which was recently highlighted by three consecutive months of profitability.

“While we will continue to sign additional new customers in Canada, we will also endeavor to push for expansion into the United States and other territories as opportunities arise, as we look to create additional value for our shareholders,” Wheeless added.

ParcelPal connects consumers to businesses. Customers can shop at partner businesses and through the ParcelPal technology to receive their purchased goods within an hour or on the same day.

The company also offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver, Calgary and Toronto.

ParcelPal is down 8.82 per cent to C$0.16 per share at 3:35pm EST.

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