• ParcelPal Technology’s (PKG) share price has risen dramatically after the company signed two larger volume customer agreements
  • The agreements are with a large flower subscription service in Vancouver, and a grocer based in Western Canada
  • ParcelPal will provide customers of these companies with same-day and next-day delivery services in multiple cities
  • Just last week, the company announced signing several other new customer agreements over the past month
  • ParcelPal Technology (PKG) is up 29.41 per cent and is currently trading at C$0.11 per share

ParcelPal Technology’s (PKG) share price has risen dramatically after the company signed two larger volume customer agreements.

The first agreement is with a large flower subscription service based in Vancouver. ParcelPal expects that through this agreement, the company will provide a minimum of 12,500 paid deliveries a year. However, the company could provide as many as 35,000 paid deliveries a year, if business goes well.

The second agreement is with a grocer based in Western Canada, which should provide ParcelPal with at least 12,500 deliveries a year. That said, the grocer’s high-side targets indicate as many as 36,000 possible deliveries a year, within 12 months.

ParcelPal will provide the customers of these companies with same-day and next-day delivery services. The agreements will apply to multiple cities in which the courier company operates.

These agreements are just the latest of many which ParcelPal has recently entered into. Just last week, the company announced signing several other new customer agreements over the past month.

ParcelPal’s CEO, Rich Wheeless, commented on the benefits of the new customer agreements.

“I am very pleased to be able to sign these larger volume customers that will help us to continue to scale the company’s revenue growth, achieve higher margins, and further diversify our customer base.

“Both of these deals are with high-quality companies, both of which have seen a significant uptick in their demand that I see continuing.

“Our team has been doing an amazing job of executing on our plan that was laid out, and I thank them for their tireless work and dedication during this time,” he said.

ParcelPal Technology (PKG) is up 29.41 per cent and is trading at C$0.11 per share at 12:33pm EDT.

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