ParcelPal Logistics Inc. is following up on its previously announced entry into a Letter of Intent on January 30, 2024 (relating to intended warehousing expansion plan) to inform shareholders that the Company has identified numerous potential warehouses to host the antimining machines. The company have and continue to submit these warehouses for consideration by the antmining company (which needs to meet certain criteria) who owns and will operate such machinery as part of eventual definitive agreement and terms related thereto. The company working diligently to identify the initial warehouse facility for this business purpose, as there are minimum electricity supply needs and geographic considerations concomitant with such site, and remain hopeful that the company will be in a position to initiate the first such facility in the next 60 days.

The company have identified multiple potential sites and are working through the process to have such site(s) approved as soon as possible. Once such initial site is approved, ParcelPal will work to secure the appropriate agreements and negotiate favorable utility costs to maximize revenue potential. Thereafter, ParcelPal will be able to initiate and accept the delivery of the hardware for installation at the approved facilities.

The goal for the Company is, upon consummation, to begin to generate the projected high-margin revenue derived from this partnership.