PowerBand Signs Two Letters of Intent to Become National Lease Partner
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF) has signed two Letters of Intent (LOIs) to become a National Lease Partner. The first LOI is with a used vehicle company operating in 10 states with over 20 locations, 4,500 vehicles in inventory, and a USD $100 million flooring capacity. The second LOI is with a conversion van company serving disabled Veterans and citizens in 31 states across 90+ locations. Upon finalizing agreements, PowerBand will provide lender services for indirect financing using its proprietary lease calculation technology. CEO Jeff Morgan expressed excitement about the growth potential of these partnerships, with final agreements expected in the coming months.
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF) ha firmato due Lettere di Intenti (LOI) per diventare un Partner Nazionale per i Leasing. La prima LOI è con una società di veicoli usati che opera in 10 stati con oltre 20 sedi, 4.500 veicoli in inventario e una capacità di finanziamento di 100 milioni di dollari. La seconda LOI è con una società di furgoni per la conversione che serve i Veterani disabili e i cittadini in 31 stati attraverso più di 90 sedi. Una volta finalizzati gli accordi, PowerBand fornirà servizi di finanziamento indiretto utilizzando la sua tecnologia proprietaria per il calcolo dei leasing. Il CEO Jeff Morgan ha espresso entusiasmo riguardo al potenziale di crescita di queste partnership, con gli accordi finali previsti nei prossimi mesi.
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF) ha firmado dos Cartas de Intención (LOI) para convertirse en un Socio Nacional de Arrendamiento. La primera LOI es con una empresa de vehículos usados que opera en 10 estados con más de 20 ubicaciones, 4,500 vehículos en inventario y una capacidad de financiación de 100 millones de dólares. La segunda LOI es con una empresa de furgones de conversión que atiende a Veteranos discapacitados y ciudadanos en 31 estados a través de más de 90 ubicaciones. Una vez que se finalicen los acuerdos, PowerBand proporcionará servicios de financiamiento indirecto utilizando su tecnología propietaria de cálculo de arrendamientos. El CEO Jeff Morgan expresó su entusiasmo por el potencial de crecimiento de estas asociaciones, con los acuerdos finales previstos para los próximos meses.
파워밴드 솔루션스 인크. (TSXV:PBX)(OTC PINK:PWWBF)는 국가 임대 파트너가 되기 위한 두 개의 의향서를 체결했습니다. 첫 번째 의향서는 10개 주에서 20개 이상의 매장을 운영하며, 4,500대의 차량을 보유하고 있는 중고 차량 회사와 체결되었습니다. 두 번째 의향서는 31개 주의 90개 이상의 위치에서 장애인 재향 군인과 시민들에게 서비스하는 개조 밴 회사와 체결되었습니다. 계약이 최종 확정되면 파워밴드는 자사의 독자적인 임대 계산 기술을 이용해 간접 금융을 위한 대출 서비스를 제공할 예정입니다. CEO 제프 모건은 이러한 파트너십의 성장 잠재력에 대한 기대감을 표명했으며, 최종 계약은 몇 달 안에 이루어질 예정입니다.
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF) a signé deux Lettres d'Intention (LOI) pour devenir un Partenaire National de Location. La première LOI est avec une entreprise de véhicules d'occasion opérant dans 10 États avec plus de 20 emplacements, 4 500 véhicules en stock et une capacité de financement de 100 millions de dollars. La seconde LOI est avec une entreprise de vans aménagés servant des vétérans handicapés et des citoyens dans 31 États à travers plus de 90 emplacements. Une fois les accords finalisés, PowerBand fournira des services de prêt pour le financement indirect en utilisant sa technologie de calcul de leasing propriétaire. Le PDG Jeff Morgan a exprimé son enthousiasme quant au potentiel de croissance de ces partenariats, les accords finaux étant attendus dans les mois à venir.
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF) hat zwei Absichtserklärungen (LOIs) unterzeichnet, um ein nationaler Leasing-Partner zu werden. Die erste LOI ist mit einem Gebrauchtwagenunternehmen, das in 10 Bundesstaaten mit über 20 Standorten und 4.500 Fahrzeugen im Inventar sowie einer Kreditlinie von 100 Millionen US-Dollar operiert. Die zweite LOI ist mit einem Umbauunternehmen für Vans, das behinderte Veteranen und Bürger in 31 Bundesstaaten an über 90 Standorten bedient. Nach Abschluss der Vereinbarungen wird PowerBand Dienstleistungen für indirekte Finanzierung unter Verwendung seiner eigenen Leasing-Berechnungstechnologie anbieten. CEO Jeff Morgan äußerte seinen Enthusiasmus über das Wachstumspotenzial dieser Partnerschaften, wobei die endgültigen Vereinbarungen in den kommenden Monaten erwartet werden.
- Expansion of PowerBand's market reach through partnerships with established companies
- Access to a large customer base across multiple states
- Potential for increased revenue through new leasing programs
- Utilization of PowerBand's proprietary lease calculation technology
- None.
TORONTO, ON / ACCESSWIRE / August 13, 2024 / PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Frankfurt:1ZVA) (" PowerBand ", " PBX " or the " Company "), a comprehensive trading and financing technology platform transforming the online experience to sell, trade, lease, and finance vehicles, announces that is has signed Letters of Intent (" LOI ") with two separate companies naming PowerBand as their National Lease Partner.
The first LOI is with a used vehicle company that has over 20 locations in 10 different states across the United States. The company has been in business since 2005 and carries more than 4,500 vehicles in inventory with a flooring capacity of over USD
The second LOI is with a conversion van company that operates in 31 states with more than 90 locations providing services to disabled Veterans and citizens with disabilities. Through its national network, the company has the largest inventory of conversion vehicles in the U.S. along with other products, including wheelchair lifts and scooters, that improve mobility.
Upon execution of definitive agreements with both companies PowerBand will be able to provide lender services for indirect financing to their respective customers by creating a competitive financing platform that incorporates PowerBand's proprietary lease calculation technology.
Jeff Morgan, PowerBand's CEO, commented: "We are thrilled to work towards becoming the National Lease Partner to two companies who share our commitment to industry innovation and customer satisfaction. I am excited about the growth potential of these two opportunities.
The LOI's mark the beginning of promising partnerships that will see PowerBand work to develop and implement new leasing programs tailored to the needs of the two company's diverse customer bases. The final agreements are expected to be signed in the coming months."
About PowerBand Solutions Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange, OTC PINK, and Frankfurt markets, is a fintech provider disrupting the automotive industry. PowerBand's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, and funders PowerBand's transaction platform is being made available across the United States.
For further information, please visit the PowerBand website or contact:
Jeff A. Morgan
Chief Executive Officer and Director
E:info@powerbandsolutions.com
P: 1-866-768-7653
Neither the TSX Venture Exchange 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 Information
Certain information included herein is forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information may include statements regarding the objectives, business strategies to achieve those objectives, expected financial results (including those in the area of risk management), economic or market conditions, and the outlook of or involving PowerBand, its subsidiaries and its businesses. Such information is typically identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "plan", "forecast", "future", "outlook, "guidance", "may", "project", "should", "strategy", "target", "will" or similar expressions suggesting future outcomes.
Forward-looking information is provided for the purpose of providing information about management's expectations and plans about the future and may not be appropriate for other purposes. Forward-looking information herein is based on various assumptions and expectations that PowerBand believes are reasonable in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Those assumptions and expectations are based on information currently available to PowerBand, including information obtained from third party industry analysts and other third-party sources, and the historic performance of PowerBand's businesses. Such assumptions include the timing of receipt of necessary regulatory approvals, anticipated financial performance, current business and economic trends, the amount and timing of future dividends paid by PowerBand, business prospects, utilization of tax basis, regulatory developments, currency, exchange and interest rates, commodity prices relating to the automotive industry, , trading data, cost estimates, our ability to obtain financing on acceptable terms, and statements regarding net working capital, anticipated operational and capital expenditure reductions, the length and impact of COVID-19 on PowerBand's businesses and customers and capital expenditure requirements of PowerBand, the assumptions set forth under the "Financial Outlook" sections of our MD&A. The forward-looking information is also subject to the risks and uncertainties set forth below. By its very nature, forward-looking information involves numerous assumptions, risks and uncertainties, both general and specific. Should one or more of these risks and uncertainties materialize or should underlying assumptions prove incorrect, as many important factors are beyond our control, PowerBand's actual performance and financial results may vary materially from those estimates and intentions contemplated, expressed or implied in the forward-looking information. These risks and uncertainties include those relating to incorrect assessments of value when making acquisitions, increases in debt service charges, the loss of key personnel, the anticipated impact of the COVID-19 pandemic, the impact of increased inflation and the expected economic recession, fluctuations in foreign currency and exchange rates, inadequate insurance coverage, liability for cash taxes, counterparty risk, compliance with environmental laws and regulations, reduced customer demand, operational risks involving our facilities, force majeure, labour relations matters, our ability to access external sources of debt and equity capital, and the risks identified in our MD&A under the heading "Risk Factors". The preceding list of assumptions, risks and uncertainties is not exhaustive.
When relying on our forward-looking information to make decisions with respect to PowerBand, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking information is provided as of the date of this document and, except as required by law, PowerBand does not undertake to update or revise such information to reflect new information, subsequent or otherwise. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
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
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