ParcelPal is innovating the cannabis home delivery experience

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This week, we attended the CannaGather Colorado event and were impressed with the types of companies that attended this cannabis networking event. One of the interesting takeaways that we had from this event pertained to the increasing number of cannabis companies that are focused on ancillary business opportunities.

During the last year, we have seen a significant increase in the number of publicly traded cannabis companies and most of these new listings have been focused on the cultivation and sale of cannabis in the United States or Canada. While we are favorable on these opportunities, the valuations have become a little inflated and we have been focused on discovering ancillary cannabis companies that have significant growth potential and attractive valuations.

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ParcelPal Technology Inc. (PKG.CN) (PTNYF) represents an attractive ancillary cannabis company that is in the early innings of a major growth cycle. The company 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.

Why ParcelPal is a Company to Watch

One of the reasons why we are favorable on PacelPal is due to the number of avenues for growth. The company represents a multi-faceted growth opportunity and it has been executing on its strategic growth initiatives, attracting new strategic relationships, and looking at further city expansions.

Last week, ParcelPal announced a major milestone and reported to have completed more than 2 million deliveries. This was a major achievement for the ancillary cannabis company and we believe that it further validates its growth prospects. ParcelPal is in the early stages of a major expansion and its growth strategy includes the following:

  • The company plans to continue to expand and enhance its technology
  • ParcelPal plans to enter into additional symbiotic joint ventures
  • The company plans to push the platform across multiple consumer verticals while rapidly expanding their reach in North America.

Cannabis Delivery Services with Choom and Kiaro are Coming Soon

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 user experience, and will create a delivery platform that complies with the regulations set forth by all regulating bodies in Canada.

Parcel Pal has been executing flawlessly on this growth initiative and is in the final stages of launching medical and recreational cannabis delivery services with Choom and Kiaro. This delivery initiative is expected to commence in April and is expected to open new markets and drive additional users to the ParcelPal platform. In the coming weeks, we expect to receive an update on this strategic growth initative and this is something that we expect to be a catalyst for the company...

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