PUDO Announces Notable Updates to Investor Section of Website; Hires Investment Banking Firm to Raise Capital and Assist with Strategic Growth Initiatives
TORONTO, ONTARIO, October 25, 2018 — PUDO Inc. (CSE:PDO) (OTCQB:PDPTF) (“PUDO” or the “Company”), North America’s first carrier-neutral Pick-Up Drop-Off Network (“Network”) is pleased to announce notable updates to the investor section of the Company’s website www.pudoinc.com, as well as its engagement of an investment banking firm to assist with its continued growth strategy.
“It is my pleasure to invite shareholders and other interested parties to visit the updated pages of the investor section of our corporate website. After many months of considerable change and progress, it became clear that our rather complex, multi-service global technology offering warranted greater explanation and clarity. The space which PUDO occupies in the e-commerce ecosystem is unique and evolving, so we have put significant effort into creating resources, references, definitions and context materials and information that PUDO news readers may use to help them better understand both our integrated business model, and our opportunity,” says PUDO CEO Kurtis Arnold.
Understanding in context, repeated references to phenomena like last-mile gridlock, reverse logistics, 3PLs, click and collect, and other terms unique to global e-commerce logistics and the PUDO story, should be easier and more fluid, thanks to new PUDO 101 – Glossary and FAQ pages located at www.pudoinc.com/en/Investor-FAQ and PUDO in Context located at www.pudoinc.com/en/PUDO-Context. The full PUDO story is available as a PDF download, from the Presentations page www.pudoinc.com/en/Investor-Presentation.
“Our story and Network are evolving and growing in tandem so we want to make sure we keep pace with that progress and deliver timely, and relevant news and updates to our stakeholders that will help them understand the increasing value we’re delivering in an everchanging marketplace. With many unseen moving parts rapidly transforming the $550B USD e-commerce sector, we want to remain at the forefront of delivering information and clarity efficiently and as consistently as possible, especially as we are about to enter the busy holiday and returns seasons, and seek additional funding to capitalize on considerable US Network expansion opportunities, as well as our continued growth at home,” concludes Arnold.
Further to PUDO’s most recent shareholder update of September 28, 2018, outlining the Company’s successes in Canada — developing its technology, approach to market, internal processes, and domestic and cross-border Network expansion — confidence is high that wholesale expansion into the considerably larger US market is both timely and necessary. Continuing the great momentum we have had from recently announced agreements with market leaders (see PUDO News), we believe now is an ideal time to continue that path with further capital enhancement that will allow us to continue to grow organically, and strategically. To that end, the Company has signed an agreement (the “Agreement”) with Panamax Capital LLC (“Panamax”), and Partner Capital Group LLC a FINRA registered broker (“PCG”), to help identify and secure expansion capital to facilitate fortification of Canadian operations, and fund US expansion beyond the beta test markets. The Agreement outlines an initial engagement term of three months, effective immediately.
The investor section of the Company website can be found at www.pudoinc.com/en/Investors. To subscribe to PUDO News, including PUDO Advantage updates, subscribe to the PUDO pressroom at “PUDO in the News”.
PUDO Inc. is developing North America’s only carrier-neutral parcel pick-up/drop-off technology and logistics Network, as a means of solving the last-mile parcel-traffic-control gridlock that is crippling the $550B e-commerce sector. E-commerce is faced with unprecedented cost control issues, based on disproportionately high last-mile delivery costs relating to undeliverable parcels, and parcels returning for refund or exchange. As labour and fuel costs increase in tandem with parcel traffic and volume, the problem worsens.
PUDO’s team of logistics and parcel traffic management experts have created a market intelligence and trends driven solution comprising carrier-neutral plug-and-play technology for desktop and mobile, plus a strategically located Network of parcel pick-up and drop-off PUDOpoints for pay-as-you-go use by all players within the e-commerce ecosystem.
Adopting PUDO technology shortens the last mile for the behemoths of e-commerce — fulfillment and distribution centers representing thousands of retailers and millions of consumers — by instantly extending their parcel staging and consolidation Network and providing secure ‘near end of the line’ storage for the 30% of e-commerce parcels that are undeliverable on first attempt. PUDO’s technology and Network virtually eliminate costs associated with second-attempt deliveries, un-attended parcel theft and spoilage, and mismanaged reverse logistics on returns, and provides carriers, retailers, and consumers with badly needed cost controls, choice, and convenience.
PUDO was founded in 2015 and was recently named one of the Top 20 most innovative public technology companies by the Canadian Innovation Exchange. After two years of industry and market research, and successful beta testing the technology and PUDOpoint geography and protocols with major logistics stakeholders, PUDO is ready to activate its Network through strategic partnerships. Activation will enable all stakeholders within the Network to access and control scalable, fluid, strategic consolidation in real time when and where needed, to lower costs and satisfy customer expectations.
About Panamax Capital, LLC
Panamax Capital, LLC is a private, global merchant banking firm. Headquartered in Greenwich with resources in the Americas, Asia, Europe, and India, the firm provides capital markets, M&A, and principal finance services to its clients.
About Partner Capital Group, LLC
Partner Capital Group, LLC is a boutique, globally focused, institutional capital introduction and advisory firm and FINRA registered broker-dealer based in Greenwich, CT.
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, such as statements regarding possible capital raising activity and possible future expansions of PUDO’s operations. This information is based on current expectations and assumptions of management, including assumptions concerning PUDO’s ability to raise additional capital. The use of any of the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “can”, “will”, “should”, and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, uncertainties with respect to service implementation, the economic results of the relationship on the operations of the Company, changes in general economic, market, or business conditions, and those risks set out in the Company’s public documents filed on SEDAR. This press release, may contain future-oriented financial information or financial outlook within the meaning of applicable securities laws. Such future-oriented financial information or financial outlook has been prepared for the purpose of providing information about management’s reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by law.
For additional information about PUDO, please contact: Karen Speight, at
SOURCE PUDO Inc.