Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - ParcelPal Logistics Inc. (OTCQB: PTNYF) (CSE: PKG) (FSE: PT0A) (the "Company" or "ParcelPal"), announces that it intends to consolidate the common shares of the Company (each, a "Share") on the basis of ten (10) pre-consolidation Shares for one (1) post-consolidation Share (the "Consolidation"). The Company's common shares are expected to commence trading at the opening of the market on April 11, 2024 under the Company's symbol "PKG". There is no name change or stock symbol change in connection with the Consolidation. The new CUSIP number is 69938P205.
The Consolidation is subject to the approval of the Canadian Securities Exchange (the "CSE"). Currently, a total of 278,040,454 Shares are issued and outstanding. Accordingly, upon the Consolidation becoming effective, a total of 27,804,046 Shares, subject to adjustments for rounding, will be issued and outstanding. There is no maximum number of authorized Shares. The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding stock options or Common Share purchase warrants will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof.
Computershare will mail out a Letter of Transmittal to the shareholders of record on April 12, 2024 providing instructions on exchanging pre-Consolidation share certificates for post-Consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their Letter of Transmittal, to Computershare in accordance with the instructions in the Letter of Transmittal.
Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company or other intermediary should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Consolidation.
About ParcelPal Logistics Inc.
ParcelPal is a Vancouver, British Columbia based company that specializes in last-mile delivery service and logistics solutions. We are a customer-driven, courier and logistics company connecting people and businesses through our network of couriers. Some of our verticals include pharmacy & health, meal kit deliveries, retail, groceries and more.
ParcelPal Website: www.parcelpal.com
Neither the CSE, the Securities and Exchange Commission nor any other securities regulatory authority has reviewed and do not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management.
OTCQB - Symbol: PTNYF
CSE - Symbol: PKG
FSE - Symbol: PT0A
Contact Information
Investor Contact
investors@parcelpal.com
T: (587) 883-9811
Company Contact
investors@parcelpal.com
T: (587) 883-9811
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204618
SOURCE: ParcelPal Logistics Inc.
