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PUDO Inc announces continued network growth plus a new ‘one-price, one-click, touchless’ USA to Canada cross-border service for all Network members

February 18, 2021 – TORONTO, Ontario – PUDO Inc. (“PUDO” or “the Company”) (CSE: PDO; OTCQB: PDPTF), North America’s only carrier-neutral parcel pick-up and drop-off counter Network, is pleased to announce the re-launch of its successful Kinek borderpoint parcel pick-up network, as a one-click, all-in, customs-cleared, delivery network for its thousands of Canadian members who pre-COVID, relied on the network to receive US-sourced purchases and hold them for pick-up.  The new all-in, touchless service launches March 1, 2021, as the Company closes its year on revenue growth of about 20% over Q3, which was its best quarter ever.

“The pandemic shut down the borders, and with them borderpoint-reliant businesses,” says PUDO CEO Frank Coccia. “The entire sector took a massive hit, but therein lies the opportunity.  We have tens of thousands of Kinek members who relied on our borderpoint locations to receive goods purchased online from US retailers, so that they could drive across the border and pick them up in person, then drive back across the border, clear customs, pay taxes and duties, and drive the merchandise home. The pandemic has forced us to reverse engineer the process in a way that manages all border services and deliver Kinek members’ parcels directly to PUDOpoints across Canada, located near to where they live and work, at a very cost-effective price point.  A short walk or drive to pick-up their parcels in their own neighborhoods can be their convenient new normal.”

PUDO will offer the cross-border service through its new Pay-As-you-GO (PAGO) platform, inviting Kinek (and PUDO) members to log-in as usual and then follow the prompts. The platform creates the logistics pathway for cross-border transit, customs-clearance, and neighborhood delivery. “It’s super easy and touchless for members, and it is inexpensive as well.  For parcels weighing less than 20 lbs (nine kilos), members pay just $18.50 for US and Canadian shipping and customs clearance services, and that includes delivery to PUDOpoints across Canada.  That’s a great deal for members, and for the environment,” adds Coccia.  Applicable taxes and duties not included.

While consumers stayed home in droves due to the pandemic, PUDO diversified its revenue streams quickly to accommodate, focussing on high-margin services to offset lower failed-first-attempt (“FFA”) residential delivery volumes.  The shift helped grow revenues consistently over the previous two quarters, as the Company quietly grew its Network of PUDOpoint Counters in Canada and the United States. “We are on-track for Q4 to outperform Q3 by about 20%, which is outstanding given the extraordinarily challenging circumstances. When the pandemic subsides and then eventually ends, and FFA volumes return to normal as people return to work, we will be well positioned for rapid growth and exponential revenue across all streams,” concludes Coccia. 

Kinek members are being contacted this month to inform them about the new ‘one-price, one-click, touchless’ service.  Inquiries may be directed to info@pudoinc.com.

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://investors.pudopoint.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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