PowerBand Appoints President of DRIVRZ Leasing Platform, MUSA

Rhea-AI Summary

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.

Positive

• Appointment of Craig Vaughn as President of MUSA Auto Finance.
• Vaughn's extensive experience in the automotive and finance sectors.
• Expected to enhance PowerBand's market position and business development opportunities.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 31, 2021 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (FRA1ZVA) ("PowerBand ", "PBX" or the "Company"), an innovative automotive fintech leader providing digital and virtual platform solutions to buy, sell, trade, lease, or finance vehicles to consumers, dealers, and OEMs, is pleased to announce the appointment of Craig Vaughn as President of MUSA Auto Finance ("MUSA").

MUSA is the lending and leasing component of PowerBand's DRIVRZ™ virtual marketplace, where leases can be approved for drivers and automotive dealers in seconds. In his role, Mr. Vaughn will report to Jon Lamb, the CEO of MUSA Auto Finance and President of PowerBand North American Operations.

Craig brings senior executive experience leading national and regional variable and fixed operations business units for public and privately-owned organizations, including Asbury Automotive, a Fortune 500 retailer. Additionally, he spent two years in Beijing, China as Vice President Variable Operations for NCGA / Yan Jun Auto. In those assignments, Craig developed meaningful relationships with a substantial number of the largest public and private dealership, finance, insurance, and warranty groups in the US.

Kelly Jennings, CEO of PowerBand, said: "We are extremely pleased Craig is leading this key component of the DRIVRZ™. His contributions will maximize our ability to capitalize on many opportunities that the Powerband organization has in North America and eventually other Global Markets. He brings an enviable wealth of knowledge and experience in the Automotive, Consumer, Finance, Warranty sectors. We are looking forward to his leadership as a key factor in our continued development and success of DRIVRZ™ and PowerBand."

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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Kelly Jennings
Chief Executive Officer
T: 866-768-7653
E: info@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.

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FAQ

What is the significance of Craig Vaughn's appointment at PowerBand Solutions?

Craig Vaughn's appointment as President of MUSA Auto Finance is pivotal as he brings extensive industry experience, which is expected to strengthen the company's leasing operations within the DRIVRZ platform.

When was Craig Vaughn appointed as President of MUSA Auto Finance?

Craig Vaughn was appointed as President of MUSA Auto Finance on March 31, 2021.

What is MUSA Auto Finance's role within PowerBand Solutions?

MUSA Auto Finance serves as the lending and leasing component of PowerBand's DRIVRZ virtual marketplace, allowing for quick lease approvals.

What does the DRIVRZ platform offer?

The DRIVRZ platform provides a digital marketplace for buying, selling, trading, leasing, and financing vehicles efficiently.