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PUDO Inc. retains Cicero Transact Group, Inc.

TORONTO, October 26, 2020 – PUDO Inc. (CSE: PDO / OTCQB: PDPTF) (the “Company”; “PUDO”) is pleased to announce that it has entered into two business development agreements with Cicero Transact Group (“Cicero”): a Services Agreement; and a Data Purchase Agreement, both having gone into effect on October 15, 2020 for an initial term ending March 15, 2021. To assist the Company in its desire to preserve its working capital, Cicero has agreed to accept stock compensation. Starting October 15, 2020 for a period of six months ending on March 15, 2021, the Company shall allot and issue, at a price of USD$1.50 per share, such amount of common shares equivalent to USD$30,000 per month under the shares for Data Purchase Agreement, and USD$3,333 per month under the shares for Services Agreement.

The Company determined to pay Cicero Transact Group, Inc. in shares in order to preserve its cash for operations. All shares to be issued pursuant to the Agreements will be subject to a six-month hold period commencing on the time of the initial issuance.

About PUDO Inc.
PUDO Inc. is North America’s only carrier-neutral parcel pick-up and drop-off counter Network, conceived to resolve the last-mile parcel-traffic-control gridlock that challenges North America’s $827B retail e-commerce sector, and eliminate over $6B in door-dropped parcel theft, annually.

PUDO’s team of logistics and parcel traffic management experts have created a plug-and-play, pay-as-you-go platform and Network of parcel pick-up and drop-off storefront counters known as PUDOpoint Counters, strategically located very near to where people live, work and play.

The PUDO model reduces or eliminates crippling last-mile related expenses for online retailers, marketplaces and carrier/delivery partners, with fulfillment and distribution solutions that include parcel storage and consolidation for click-and-collect deliveries, online returns, and the nearly 35% of e-commerce parcels that are undeliverable on first attempt.

Membership in the PUDOpoint Counters Network program offers consumers ‘parcel receipt certainty’, early/late/weekend pick-up and return convenience, 100% elimination of door-drop parcel theft, and a mobile home-away-from-home address Network that goes wherever they do.

The PUDOpoint Counters Network provides all carriers, retailers, and consumers with badly needed cost controls, choice, and convenience.

To signup for PUDO News Feed please subscribe at https://www.pudoinc.com/en/news.
For more information, please visit www.pudopoint.com

 

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 estimated revenues from new contracts, increased parcel volume, activation and implementation of PUDO’s technology 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 integrate its new customers into its network and successfully execute on its new and existing contracts. 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, in particular the information in respect of estimated revenues, 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 further information about PUDO, please contact:

Karen Speight
1-506-694-1250,
karen.speight@pudopoint.com

SOURCE: PUDO Inc.

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