PowerBand Announces Former MUSA Auto Finance CEO Stepping Down

Rhea-AI Summary

PowerBand Solutions Inc. (OTCQB:PWWBF) announces the appointment of Jon Lamb as CEO of Drivrz Financial, succeeding Jeff Morgan, who is stepping down to pursue new opportunities. Morgan emphasized the strength of the executive team and partnerships he leaves behind. The company is rebranding MUSA Auto Finance to Drivrz Financial across the U.S. PowerBand, known for its innovative e-commerce solutions in the automotive sector, continues to expand its cloud-based platform for vehicle transactions.

Positive

• Appointment of Jon Lamb as CEO provides new leadership and direction.
• Strong executive team and financing partnerships remain in place.
• Ongoing rebranding to Drivrz Financial may enhance market visibility.

Negative

• None.

As Previously Announced, Jon Lamb has been Appointed as CEO of Drivrz Financial (formerly MUSA), replacing Jeff Morgan

VANCOUVER, BC / ACCESSWIRE / April 30, 2021 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (Frankfurt:1ZVA) ("PowerBand", "PBX" or the "Company"), an innovative automotive fintech leader providing a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles, announces that Jeff Morgan is stepping down.

"It's just my time for my next opportunity." said Jeff Morgan. "I am leaving behind a very powerful executive team, arguably the strongest financing partnerships ever created and some first of its kind technology. When managed properly with PowerBand's DRIVRZ Solution, they have everything they need to be successful. I fully expect PowerBand, and the Drivrz Financial team, to be successful in improving and expanding on what I started."

"On behalf of the Board of Directors and the entire PowerBand team, we want to extend our deepest gratitude to Mr. Morgan." stated Jon Lamb, CEO of Drivrz. "In addition to being the Founder, Jeff was a valued member of the PowerBand family of companies and we are grateful for his contributions."

PowerBand is currently in the process rebranding MUSA Auto Finance as DRIVRZ Financial in each state.

For further information, please contact:

Jon Lamb
President
P: 866-768-7653
E: jlamb@drivrz.com

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.

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.

SOURCE: PowerBand Solutions Inc.

View source version on accesswire.com:
https://www.accesswire.com/643589/PowerBand-Announces-Former-MUSA-Auto-Finance-CEO-Stepping-Down

FAQ

Who has been appointed as the new CEO of PowerBand Solutions (PWWBF)?

Jon Lamb has been appointed as the new CEO of PowerBand Solutions, replacing Jeff Morgan.

When was the announcement made about the CEO change at PowerBand Solutions (PWWBF)?

The announcement was made on April 30, 2021.

What is the new name for MUSA Auto Finance under PowerBand Solutions (PWWBF)?

MUSA Auto Finance is being rebranded as Drivrz Financial.

What type of solutions does PowerBand Solutions (PWWBF) provide?

PowerBand Solutions provides innovative e-commerce solutions for buying, selling, trading, leasing, and financing vehicles.

What is the significance of Jeff Morgan's departure for PowerBand Solutions (PWWBF)?

Jeff Morgan's departure marks a transition in leadership but is balanced by a strong executive team and existing partnerships.