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ParcelPal Is Making All Of The Right Moves To Lead The Cannabis Delivery Space In Canada





Earlier this year, we started following ParcelPal Technology Inc. (PKG.CN) (PTNYF) and are impressed with how the company has been able to execute. We believe that ParcelPal represents an attractive ancillary cannabis opportunity and believe that this company has been flying under the radar.
ParcelPal provides on-demand local delivery services in North America and has secured strategic relationships with leading global conglomerates as well as leading Canadian cannabis retailers. We find these relationships to be an important part of the story and are excited about PacelPal for the following reasons:
  • The company is led by a management team that is focused on execution
  • ParcelPal has secured strategic relationships that have already proven to add value
  • The company has significant catalysts for growth and is in the early innings of a major growth cycle
  • The valuation is attractive based on improving fundamentals and growth opportunities
In late March, ParcelPal announced a major milestone and reported to have completed more than 2 million deliveries. This represents a significant achievement for the company, and we are favorable on the growth prospects going forward. During the last year, ParcelPal has been nothing short of an execution story and this milestone is a testament to the strength of the company.
PacelPal speaks to a multi-faceted development opportunity that has been executing on its key development activities, pulling in new key accomplices, and taking a gander at further city extensions. We trust that the organization has huge impetuses for development and trust that these development openings are undervalued by the road.
Secured Strategic Partners to Support Growth
One of the reasons why we are excited about ParcelPal is due to the strategic relationships that are in place. The company has done an excellent job when it comes to securing strategic partners that will help support growth and we believe that this is an important aspect of the story.
Last year, ParcelPal announced a strategic distribution agreement with Choom Holdings, Inc. (CHOO.CN) (CHOOF), a leading cannabis retailer in Canada. Under the agreement, the companies will jointly develop a roadmap for distribution within various provinces for recreational cannabis, will use their respective platforms to enhance the user experience, and will create a delivery platform that complies with the regulations set forth by all regulating bodies in Canada.
We are favorable on this relationship and believe that each company adds strategic capabilities to the partnership. ParcelPal wants to be the Uber of cannabis for Canada and believes that Choom will enhance its national cannabis distribution and delivery strategy. Choom has a strategic relationship with Aurora Cannabis (ACB.TO) (ACB), whereby Aurora owns a significant portion of Choom and we are favorable on the impact this could have on ParcelPal.
ParcelPal is a company that has significant catalysts for growth, and it is in the final stages of launching medical and recreational cannabis delivery platform with Choom and Kiaro. This delivery initiative is expected to commence this month and is expected to open new markets and drive additional users to the platform.
Another relationship that we are excited by is the one with Amazon.com (AMZN). This relationship has already proven to be a major value driver and the company has a contract for Vancouver, British Columbia, and Everett, Washington and has expanded its regions within the current cities significantly. We are monitoring how ParcelPal continues to expand on its relationship with Amazon and this is something to watch.

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