PowerBand Advisory Team Bolstered by Addition of Automotive Leader Steve Waller, Proven Executive of Fortune 500, 300 and 100 Financial Institutions

Rhea-AI Summary

PowerBand Solutions Inc. (OTCQB: PWWBF) announced that automotive industry leader Steve Waller has joined its advisory team. Waller's extensive experience includes roles at Fortune 100, 300, and 500 companies, and he aims to advance PowerBand's DRIVRZ platform—designed for seamless vehicle transactions via mobile devices. He has a track record of generating significant growth, notably managing a pipeline of USD $2 billion at US Bank and driving $100 million in new business at JP Morgan Chase. PowerBand continues its mission to disrupt the automotive industry through its innovative, cloud-based platform.

Positive

• Steve Waller's extensive experience at Fortune 100, 300, and 500 companies strengthens the advisory team.
• Waller has a proven track record of generating substantial revenue growth, which could benefit PowerBand's financial performance.
• The DRIVRZ platform aims to simplify vehicle transactions, potentially increasing user engagement and market share.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 8, 2020 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (Frankfurt:1ZVA) ("PowerBand", "PBX" or the "Company") is pleased to announce Steve Waller, one of the U.S. automotive retail and banking sectors' proven leaders, is joining the Company's advisory team.

Mr. Waller brings unique C-suite experience with Fortune 100, 300 and 500 companies to PowerBand, to accelerate the Company's commercialization of its virtual platform - DRIVRZ - which enables the buying, selling, leasing, trading and financing of vehicles from a smart phone or other digital device, making it as easy to acquire a vehicle as carrying out a transaction on Amazon.

"Steve is a remarkable executive and brings great strategic and operational expertise to PowerBand's mission to transform the automotive retail experience," said PowerBand CEO Kelly Jennings. "His record speaks for itself."

Currently, Mr. Waller is Vice President of Business Development and Transformation at D&P Holdings, LLC ("D&P"), the national insurance administrator that is now a key strategic partner and investor in PowerBand. At D&P, Mr. Waller focuses on tactical business plans, identifying capital sources, revenue growth, compliance and marketing initiatives.

"PowerBand is transforming automotive retail and I'm delighted to be part of this seminal moment in the industry," said Mr. Waller. "I expect PowerBand, and our virtual transaction platform DRIVRZ, will be ubiquitous in very short order."

Some of Mr. Waller's past roles include:

• Vice President of National Accounts for US. Bank, the fifth largest bank in the United States: He created and deployed innovative business development and marketing strategies for National Accounts business, growing the pipeline to USD $2 billion after securing opportunities with prospects spanning North America.

• Vice President of Sales for National Accounts for JP Morgan Chase, a USD $109+ billion revenue Fortune 100 international banking conglomerate with 250,000 employees worldwide. He transformed the sales department, managing direct sales efforts to develop a national account go-to-market strategy, capturing business through loan growth and increased adaptation of banking and financial services products. Overseeing a staff of 60, he exceeded USD $50 million individual annual growth goal, regularly achieving $100 million in new business, and helped drive record total of closings within a two-year period, going from USD $400 million to USD $2 billion.

• Vice President of Corporate Development for GROUP 1, a Fortune 300 international automotive dealership company with 14,500 staff in the US, UK, and Brazil. He expanded market share and presence into new markets in the US and UK. He led four direct and 15 indirect employees and reported directly to the CEO.

• Other roles have included: Vice President of Business Development & Origination for Capital Automotive REIT, Houston, Texas; and Vice President Group Manager at Comerica Bank, Houston, Texas.

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/609719/PowerBand-Advisory-Team-Bolstered-by-Addition-of-Automotive-Leader-Steve-Waller-Proven-Executive-of-Fortune-500-300-and-100-Financial-Institutions

FAQ

What recent announcement was made by PowerBand Solutions regarding Steve Waller?

PowerBand Solutions announced that Steve Waller has joined its advisory team to advance the DRIVRZ platform.

What is the focus of Steve Waller's role at PowerBand Solutions?

Steve Waller's role focuses on accelerating the commercialization of PowerBand's vehicle transaction platform, DRIVRZ.

How does the addition of Steve Waller impact PowerBand Solutions' strategy?

The addition of Steve Waller is expected to enhance PowerBand's strategic direction and operational expertise in the automotive retail sector.

What is the significance of the DRIVRZ platform for PowerBand Solutions?

The DRIVRZ platform aims to facilitate seamless buying, selling, and financing of vehicles via mobile devices, transforming the automotive retail experience.

What previous experience does Steve Waller bring to PowerBand Solutions?

Steve Waller has held significant roles at US Bank and JP Morgan Chase, where he developed strategies that led to substantial revenue growth.