TORONTO, ONTARIO -- (Marketwired) -- 03/04/16 -- PUDO Inc. ("PUDO" or the "Company") (CSE: PDO)(OTCQB: PDPTF) announces that effective February 29, 2016 it has completed a vertical short form amalgamation (the "Amalgamation") with its wholly-owned subsidiary My Courier Depot Inc. ("MCD") in order to reduce internal administration and financial reporting costs. Pursuant to the Amalgamation, all of the issued and outstanding shares of MCD will be cancelled and the assets, obligations and liabilities of MCD will be assumed by PUDO. No securities of PUDO will be issued in connection with the Amalgamation and the share capital of PUDO will remain unchanged. The Amalgamation will not have any significant effect on the business and operations of PUDO.
About PUDO Inc.
PUDO is the last mile delivery solution for parcel pick-up and drop-off services, ensuring reliable and secure delivery where you want it, when you want it. Using easily-accessible PUDO Point™ locations such as convenience stores, gas stations and grocery stores with extended hours, PUDO members, participating e-commerce retail consumers, businesses and a home-based workforce can now pick-up their parcels anytime, including evenings and weekends. PUDO eliminates the frustration of missed deliveries and gives control over parcel pick-up and delivery back to its members. With user-friendly technology, free membership and thousands of PUDO Point™ locations across Canada and the U.S., PUDO is changing the parcel delivery model in North America. PUDO was named one of the top 20 most innovative public technology companies by the Canadian Innovation Exchange in 2015. For more information, please visit www.pudoinc.com or www.pudopoint.com.
This press release contains forward-looking statements. The use of any of the words "anticipate", "believe", "expect", "plan", "intend", "can", "will", "should", and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Company, including but not limited to expectations and assumptions concerning the receipt of required regulatory approval. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Contacts:
PUDO Inc.
Frank Coccia
Chief Executive Officer
844-300-8533
fcoccia@pudoinc.com
www.pudoinc.com or www.pudopoint.com
