If you hadn’t heard the news yet, ParcelPal (PKG) (PTNYF), a company we’ve been covering for months, has closed a deal of potentially epic proportions. This morning the company announced that it had inked an agreement with one of the largest cannabis companies on the planet, Aphria (APHA).
Yes, this is the same Aphria that just reported quarterly revenues of $128.6 Million. It’s the same Aphria that saw revenue grow 969% from its prior year. And it’s the same Aphria that sold over 1,400 kg equivalents for medical cannabis sales in the quarter…and this is where ParcelPal comes in!
Considering that Aphria’s average price for medical cannabis for the quarter was $7.66 per gram, that means Aphria sells 1 KG for around $7,600…now do the math on what they reported JUST FOR THE QUARTER! ParcelPal now taps directly into that business line.
Now, distribution and delivery will commence in Calgary, Alberta, at first but expansion into other areas is expected to follow shortly.
“The legal cannabis space continues to serve as a sector filled with significant growth potential for ParcelPal. Management believes that we are launching our legal cannabis delivery platform at the ideal time as legislation across the country continues to expand the addressable cannabis marketplace. We expect to leverage numerous business opportunities in the upcoming year. We look forward to establishing ourselves as a market leader in the cannabis delivery space and capturing meaningful market share in 2019 and beyond.”Kelly Abbott, president and CEO of ParcelPal
ParcelPal Continues To Expand
This isn’t the only thing in the pipeline for ParcelPal either. Even with the sheer size and scope of this deal with Aphria, don’t forget that the company has also been building up other assets as well.
One of the bigger deals closed in 2019 was between ParcelPal (PTNYF) (PKG) and Yield Growth! The deals forms an alliance between the two companies for same-day and on-demand delivery, sale, of hemp-based cosmetics from Yield Growth’s subsidiary Urban Juve in Canada.
The New Market Reach Could Be Unparalleled
Urban Juve hemp products are currently sold in over 90 locations including well-known pharmacy chains across North America, with a plan to expand that to 130 retail outlets in the near future.
Customers will be able to track their purchase in real-time and have their product delivered to any location they specify. As time and regulations allow, ParcelPal’s cannabis network will continue to grow, with the goal of capturing a major piece of Canada’s $5.2 B legal cannabis market.
ParcelPal also formally announced that it will be integrating with Shopify (SHOP) to offer cannabis products to customers of Shopify shops. This will be available in Vancouver, Calgary, and Saskatchewan. Customers ordering from Shopify stores in these areas will be able to receive cannabis at their own homes.
“Shopify is the main e-commerce platform in Canada for cannabis. Our integration onto the Shopify platform allows us to easily integrate and begin executing within the space.”ParcelPal’s President and CEO Kelly Abbott told Benzinga
Two of the company’s current clients (Choom Holdings and Kiaro) already have been established on the Shopify platform. The move, as the company puts it, will “give them an omnichannel approach to their sales. This will give us access to the recreational and medical market.”
For the full ParcelPal release, Click Here.
The Biggest Deal Yet?
ParcelPal (PTNYF) (PKG) could already be grabbing first-mover advantage when it comes to taking on the global arena. Surely, there are already billions being invested in the startups of tomorrow. As these companies “prepare,” ParcelPal is already entering into key verticals, aligning with major companies like Amazon, Shopify, Yield Growth, Cowbell, and now one of the biggest cannabis companies in the world, Aphria.
The company is also expanding the technology of its application to deliver a seamless customer experience for a country that is just beginning to find out what on-demand services are! But this latest deal with Aphria could set the company head and shoulders above the competition. due to the fact that this is
With the feverish pitch that the global on-demand industry is set to see, can you afford to miss out on something for which early adopters are already earmarking billions of dollars for massive future growth?