PowerBand Brings on Proven Capital Finance Leader for Next Stage Growth of the DRIVRZ Suite of Products

Rhea-AI Summary

PowerBand Solutions (OTCQB:PWWBF) announced the appointment of Justin Burrage from Cadiz Capital Advisors to support its capital markets initiatives. This move comes as the company reports rising gross sales and expands its DRIVRZ™ platform in the U.S. Burrage, with over a decade of experience, is expected to connect the company with new investors, aiming to bolster outreach and growth. His annual compensation is set at CD$ 120,000. PowerBand's innovative fintech solutions are gaining traction, signaling a promising growth trajectory.

Positive

• Appointment of Justin Burrage enhances capital market strategies.
• Rising gross sales and expansion of DRIVRZ™ platform in the U.S.
• Burrage's expertise may attract new institutional investors.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 13, 2021 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (FSE:1ZVA) ("PowerBand", "PBX" or the "Company") is pleased to announce that Justin Burrage, President of Cadiz Capital Advisors, will be advising and assisting the Company on capital markets initiatives.

The appointment occurs as PowerBand enters a new stage of growth, with gross sales escalating and DRIVRZ™ expanding across the United States.

"We believe Justin will introduce PowerBand and the DRIVRZ™ virtual marketplace to a new tier of investors as we achieve new growth and expansion targets," said PowerBand CEO Kelly Jennings.

For over a decade in capital markets, Burrage has been a managing director of equity sales at Desjardins Capital Markets and a senior leader at Bell Aliant, a Bell Canada subsidiary where he was focused on M&A and corporate strategy. Burrage was an instrumental part of a team that raised billions of dollars for small cap companies, and then connected them to an extensive network of money managers. In 2019, he was recognized for exemplary performance by a money manager with a TopGun award from Brendan Wood International.

In his role at PowerBand, Burrage will work with the Company's CEO and senior executives to introduce investors, family offices and financial institutions to PowerBand and the DRIVRZ™ suite of products. His services have been retained for an annual compensation of CD$ 120,000.

"After years of R&D and preparation, PowerBand has hit an inflection point in its growth trajectory and its now time to broaden and deepen the Company's outreach to institutional investors," said Burrage. "The company has a differentiated capital light business model, and I believe, is on the precipice of becoming a mainstream solution for auto transactions in the United States. I look forward to leading this strategy with Kelly Jennings to attract growth investors who share our vision to positively disrupt the automotive retail sector for automobile dealers and consumers."

Justin holds an MBA from Memorial University and a CIM designation from the Canadian Securities Institute. He currently runs his own capital markets advisory firm, Cadiz Capital Advisors.

"Our virtual marketplace to buy, lease, trade and insure vehicles - DRIVRZ™ - is seeing its gross sales hitting new highs," said Jennings. "The company's financing division, DRIVRZ Financial, and its auction division, DrivrzXchange, are also expanding their reach across the United States. We believe its time more people heard about us."

For further information, please contact:

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

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.

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

Who is Justin Burrage in relation to PowerBand Solutions?

Justin Burrage is the new advisor for capital markets initiatives at PowerBand Solutions, assisting with investor outreach.

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

The DRIVRZ™ platform is integral to PowerBand's fintech solutions, facilitating vehicle transactions and experiencing rising gross sales.

How much is Justin Burrage being compensated for his role at PowerBand Solutions?

Justin Burrage's annual compensation for his advisory role at PowerBand is CD$ 120,000.

What are the growth prospects for PowerBand Solutions following this announcement?

The growth prospects appear strong, with Burrage's expertise expected to enhance investor outreach and support the expansion of the company's operations.