ParcelPal Technology to raise up to $200K

Vancouver (pcJ News Briefs) – ParcelPal Technology Inc. (CSE: PKG; FSE:PT0) intends to complete a non-brokered private placement financing of up to 1,111,111 units at a price of $0.18 per unit for gross proceeds of up to $200,000. The financing may be completed in one or more tranches.

Each unit will consist of one common share and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at $0.30 for a period of 18 months from the date of closing the financing.

ParcelPal Technology intends to use $105,000 of the proceeds to execute expansion plans of the ParcelPal app and operations which include marketing and investor relations, $15,000 for research and development and $80,000 for ongoing general and administrative expenses.

ParcelPal is an iPhone, Android and desktop computer service enabling businesses and individuals to quickly and affordably have items delivered locally though crowd-sourced couriers. The company offers same-day delivery of merchandise for leading retailers in Vancouver and soon in major cities Canada-wide.

photo credit: ParcelPal