Bruce Polkes, CEO & Co-Founder of IntellaCar, the leading iPad Interface for Automotive Dealers and Drivers, Joins PowerBand Advisory Team

Rhea-AI Summary

PowerBand Solutions Inc. (OTCQB:PWWBF) announced Bruce Polkes, CEO and Founder of IntellaCar, has joined its advisory team. With over 30 years in the automotive-retail sector, Polkes has strengthened dealership sales through technology, having worked with major brands like Toyota and Honda. He developed an iPad platform enhancing dealer-driver engagement. PowerBand aims to leverage Polkes' experience to advance its transaction platform, allowing seamless vehicle transactions via mobile devices. Polkes received 350,000 Restricted Share Units, vesting over two years.

Positive

• Bruce Polkes joins PowerBand as a strategic advisor, enhancing the company's expertise.
• Polkes has extensive experience in automotive retail and technology, potentially improving PowerBand's market positioning.
• The engagement of Polkes may lead to innovations in PowerBand's transaction platform, appealing to consumers and dealers.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 15, 2020 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (Frankfurt:1ZVA) ("PowerBand", "PBX" or the "Company") is pleased to announce technology leader and innovator Bruce Polkes, the CEO & Founder of IntellaCar, has joined PowerBand's team of industry advisors.

With 30-years of experience in the automotive-retail sector, Mr. Polkes' career includes 20 years of working with dealers and OEMs, such as Toyota, Lexus, Honda and Acura, to develop and leverage technology to drive dealership sales and increase customer engagement.

As the founder and CEO of IntellaCar, Mr. Polkes developed the industry's leading platform for drivers and dealers to mutually engage, carrying out searches and transactions on an iPad, with constant access to data and an extensive video library of automobiles on the market.

"Bruce is one of our industry's pioneers in developing software and digital platforms to enable consumers and drivers to carry out fast and transparent transactions," said PowerBand CEO Kelly Jennings. "In founding IntellaCar, which enables consumers and dealers to buy and lease cars and trucks from an iPad or a smart phone, he is transforming the automotive retail experience."

Added Jennings: "Bruce's insights will be key in advancing PowerBand's platform that now enables drivers to buy, sell, lease, trade and finance vehicles on smart phones, as easily as buying a product on Amazon."

Mr. Polkes' has also proven his innovation talents during his work with organizations such as Procter & Gamble and ARAMARK - where he has earned numerous trademarks and patents. He has a BA from Johns Hopkins University and an MBA from Northwestern University's Kellogg Graduate School of Management.

Mr. Polkes has been granted 350,000 Restricted Share Unit's ("RSU's") in the capital of the Company, subject to the Company's 2020 Restricted Share Unit Plan. 175,000 of the RSU's will vest on October 14, 2021 and an additional 175,000 RSU's will vest on October 14, 2022.

About PowerBand Solutions Inc.

PowerBand Solutions Inc., listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, funders and manufacturers (OEMs). It enables them to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on smart phones or any other online digital devices, from any location. PowerBand's transaction platform - being trademarked under DRIVRZ - is being made available across North American and global markets.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

For further information, please contact:

Richard Goldman, VP Corporate Development
P: 1-866-768-7653
rgoldman@powerbandsolutions.com

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

SOURCE: PowerBand Solutions Inc.

View source version on accesswire.com:
https://www.accesswire.com/610664/Bruce-Polkes-CEO-Co-Founder-of-IntellaCar-the-leading-iPad-Interface-for-Automotive-Dealers-and-Drivers-Joins-PowerBand-Advisory-Team

FAQ

Who is Bruce Polkes in relation to PowerBand Solutions PWWBF?

Bruce Polkes is the CEO and Founder of IntellaCar, and he has joined PowerBand's advisory team.

What experience does Bruce Polkes bring to PowerBand Solutions?

Polkes has over 30 years in the automotive-retail sector, working with major brands and developing technology to enhance dealership sales.

What impact is expected from Bruce Polkes joining PowerBand's advisory team?

His expertise may help PowerBand innovate and improve its mobile transaction platform for automotive transactions.

What are Restricted Share Units granted to Bruce Polkes by PowerBand?

Polkes was awarded 350,000 RSUs, with half vesting on October 14, 2021, and the remaining half on October 14, 2022.

How does PowerBand's platform facilitate vehicle transactions?

PowerBand's platform allows users to buy, sell, lease, trade, and finance vehicles through smartphones or online, simplifying the process.