AMERITRUST FNCL TECHS INC - PWWBF STOCK NEWS

PowerBand Solutions Inc. (OTCQB:PWWBF) has announced the settlement of a $1 million debt owed to its CEO, Kelly Jennings, through the issuance of 800,000 common shares at $1.25 each. This settlement, approved by the Board, reflects Jennings' commitment to the company as he transforms his loan into equity. Additionally, the company's DRIVRZ™ virtual marketplace is set to enhance automotive transactions and is on track for profitability. The share issuance is pending approval from the TSX Venture Exchange and will be subject to a four-month hold.

PowerBand Solutions has appointed Craig Vaughn as President of MUSA Auto Finance, enhancing its leasing component within the DRIVRZ virtual marketplace. Vaughn brings extensive experience from notable companies, including Asbury Automotive and NCGA / Yan Jun Auto. CEO Kelly Jennings expressed confidence in Vaughn's leadership to enhance PowerBand's market opportunities in North America and globally. PowerBand, a fintech innovator, offers a cloud-based platform for automotive transactions, facilitating vehicle financing and leasing.

PowerBand Solutions Inc. (OTCQB:PWWBF) has announced the promotion of Jon Lamb to CEO of MUSA Holdings. Kelly Jennings, CEO of PowerBand, praised Lamb's leadership skills, highlighting his past success as President of DRIVRZ™ and his extensive experience in the automotive and fintech sectors. Lamb's background includes founding and leading various companies and military service in the U.S. Navy. PowerBand Solutions is focused on transforming the automotive industry through its cloud-based transaction platform, DRIVRZ™, facilitating vehicle transactions across multiple digital devices.

PowerBand Solutions Inc. has launched its consumer auction platform drivrzXchange in Northwest Arkansas, aiming for nationwide expansion. This platform allows verified users to buy and sell vehicles safely and transparently, ensuring fair valuations without middlemen. Key features include identity verification, third-party valuations, and a 7-day buyer satisfaction guarantee. The company, known for disrupting the automotive industry, envisions a future where digital transactions simplify buying and selling vehicles, similar to Amazon and eBay. The pilot phase marks a significant step in PowerBand's growth strategy.

PowerBand Solutions Inc. has entered a Memorandum of Understanding (MOU) with Allianz Partners to sell automotive specialty insurance products via the DRIVRZ platform, targeting the North American market, especially for electric vehicles (EVs). The MOU, effective in Q2 2021, aims to enhance lease financing facilities and expand product offerings globally. The partnership will offer various finance and insurance products related to automotive transactions, encompassing electric and non-electric vehicles, thus positioning DRIVRZ as a comprehensive virtual marketplace.

PowerBand Solutions announced strong financial results for February 2021, with gross sales reaching $8.0 million (CAN), a 19.4% increase from January's $6.7 million. Year-to-date sales stand at $14.7 million, approaching $21.7 million for the same period in 2020. The company attributes growth to its DRIVRZ™ virtual marketplace, which eliminates middlemen, reducing costs for users. The gross margin remains stable between 60% and 65%, indicating a solid business model as they aim for profitability.

A Global Insurance and Financial Services Provider has signed a non-binding Memorandum of Understanding (MOU) with PowerBand Solutions (TSXV:PBX, OTCQB:PWWBF) to market automotive insurance products through the DRIVRZ platform. The collaboration aims for a launch in Q1 2021, initially targeting North America, specifically electric and non-electric vehicles. This partnership intends to enhance lease financing facilities and expand globally. The companies will also create reinsurance agreements and work towards a strategic investment in PowerBand, marking a significant milestone in the DRIVRZ marketplace.

PowerBand Solutions Inc. (OTCQB:PWWBF) announced strong financial growth for January 2021, with gross sales reaching $6.7 million CAD, up from $6.1 million in December 2020. This $600,000 increase reflects a consistent gross margin between 60% to 65%. The CEO highlighted the growing trend of consumers preferring online vehicle transactions, affirming that the company's DRIVRZ™ platform is capturing more market share. With the recent private placement completed, PowerBand plans to accelerate its expansion across North America.

PowerBand Solutions Inc. (PWWBF) has successfully closed a non-brokered private placement, issuing 18,275,862 units at $0.29 each, raising a total of $5.3 million. Each unit comprises one common share and a share purchase warrant, exercisable at $0.49 for 24 months. The funds will support the company’s expansion in the U.S., software development, and general working capital. The private placement was fully subscribed, with cash finders' fees of $92,802.52 paid to finders, along with 320,009 compensation warrants.