PowerBand Solutions Inc. Announces Name Change to AmeriTrust Financial Technologies Inc
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Frankfurt:1ZVA), a fintech platform specializing in used vehicle lease originations for the automotive industry, has announced its name change to AmeriTrust Financial Technologies Inc. The change, approved by shareholders on September 18, 2024, will take effect on October 23, 2024. On this date, the company will begin trading on the TSX Venture Exchange under the new ticker symbol 'AMT'.
CEO Jeff Morgan stated that this change marks a significant milestone, symbolizing a new chapter and aligning with their mission to deliver trusted, innovative financing solutions. The name change does not affect the company's capitalization or require any action from shareholders regarding their share certificates.
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Francoforte:1ZVA), una piattaforma fintech specializzata nell'origine dei leasing di veicoli usati per l'industria automobilistica, ha annunciato il suo cambio di nome in AmeriTrust Financial Technologies Inc. Il cambiamento, approvato dagli azionisti il 18 settembre 2024, entrerà in vigore il 23 ottobre 2024. Da questa data, l'azienda inizierà a essere quotata alla Borsa di Toronto sotto il nuovo simbolo ticker 'AMT'.
Il CEO Jeff Morgan ha dichiarato che questo cambiamento rappresenta una pietra miliare significativa, simboleggiando un nuovo capitolo e allineandosi alla loro missione di fornire soluzioni di finanziamento innovative e affidabili. Il cambio di nome non influisce sulla capitalizzazione dell'azienda né richiede alcuna azione da parte degli azionisti riguardo ai loro certificati azionari.
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Frankfurt:1ZVA), una plataforma fintech especializada en la originación de arrendamientos de vehículos usados para la industria automotriz, ha anunciado su cambio de nombre a AmeriTrust Financial Technologies Inc. El cambio, aprobado por los accionistas el 18 de septiembre de 2024, entrará en vigor el 23 de octubre de 2024. En esta fecha, la empresa comenzará a cotizar en la Bolsa de Valores de Toronto bajo el nuevo símbolo de ticker 'AMT'.
El CEO Jeff Morgan declaró que este cambio marca un hito significativo, simbolizando un nuevo capítulo y alineándose con su misión de ofrecer soluciones de financiación confiables e innovadoras. El cambio de nombre no afecta la capitalización de la empresa ni requiere ninguna acción de los accionistas en relación con sus certificados de acciones.
파워밴드 솔루션즈 Inc. (TSXV:PBX)(OTC PINK:PWWBF)(프랑크푸르트:1ZVA)는 자동차 산업을 위한 중고 차량 임대 시작을 전문으로 하는 핀테크 플랫폼으로 아메리트러스트 금융 기술 Inc로 이름을 변경한다고 발표했습니다. 이 변경은 2024년 9월 18일 주주들에 의해 승인되었으며 2024년 10월 23일에 발효됩니다. 이 날부터 회사는 새로운 티커 심볼 'AMT'로 TSX 벤처 거래소에서 거래를 시작합니다.
CEO 제프 모건은 이 변화가 중요한 이정표를 나타내며, 새로운 장을 상징하고 신뢰할 수 있는 혁신적인 금융 솔루션을 제공하려는 그들의 사명과 일치한다고 밝혔습니다. 이름 변경은 회사의 자본금에 영향을 미치지 않으며 주주가 그들의 주식 증명서에 대해 어떤 조치를 취할 필요가 없습니다.
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Francfort:1ZVA), une plateforme fintech spécialisée dans l'origine des baux de véhicules d'occasion pour l'industrie automobile, a annoncé son changement de nom en AmeriTrust Financial Technologies Inc. Ce changement, approuvé par les actionnaires le 18 septembre 2024, prendra effet le 23 octobre 2024. À cette date, la société commencera à négocier sur la Bourse de croissance de Toronto sous le nouveau symbole boursier 'AMT'.
Le PDG Jeff Morgan a déclaré que ce changement marque une étape importante, symbolisant un nouveau chapitre et s'alignant sur leur mission de fournir des solutions de financement fiables et innovantes. Le changement de nom n'affecte pas la capitalisation de l'entreprise et ne nécessite aucune action de la part des actionnaires concernant leurs certificats d'actions.
PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Frankfurt:1ZVA), eine Fintech-Plattform, die sich auf die Herkunft von Leasingverträgen für gebrauchte Fahrzeuge in der Automobilindustrie spezialisiert hat, hat seine Namensänderung zu AmeriTrust Financial Technologies Inc bekannt gegeben. Die Änderung, die von den Aktionären am 18. September 2024 genehmigt wurde, tritt am 23. Oktober 2024 in Kraft. An diesem Tag wird das Unternehmen unter dem neuen Tickersymbol 'AMT' an der TSX Venture Exchange gehandelt.
CEO Jeff Morgan erklärte, dass diese Änderung einen bedeutenden Meilenstein darstellt, der ein neues Kapitel symbolisiert und mit ihrer Mission übereinstimmt, vertrauenswürdige und innovative Finanzierungslösungen anzubieten. Die Namensänderung hat keine Auswirkungen auf die Kapitalisierung des Unternehmens und erfordert keine Maßnahmen von den Aktionären in Bezug auf ihre Aktiezertifikate.
- Name change aligns with company's mission to deliver trusted, innovative financing solutions
- No change in company capitalization
- No action required from shareholders regarding share certificates
- None.
TORONTO, ON / ACCESSWIRE / October 21, 2024 / PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Frankfurt:1ZVA) ("PowerBand" or the "Company"), a fintech platform targeting auto finance and specializing in used vehicle lease originations for the automotive industry, is pleased to announce it will be changing its name (the "Name Change") to AmeriTrust Financial Technologies Inc. ("AmeriTrust"), as previously announced on October 2, 2024. The Name Change was approved by shareholders of the Company at its annual general and special meeting held on September 18, 2024.
Jeff Morgan, PowerBand's CEO, commented: "Today marks a significant milestone for our Company as we transition from PowerBand Solutions Inc. to AmeriTrust. It symbolizes a new chapter and a fresh beginning, aligning our identity with our mission to deliver trusted, innovative financing solutions to the automotive industry. We are enthusiastic about the future and confident this change will enhance our service and product offering to our customers and stakeholders."
The Name Change will become effective on October 23, 2024. The Company will begin trading as AmeriTrust on the TSX Venture Exchange the ("TSXV") with a new ticker symbol, "AMT," on October 23, 2024. A new CUSIP number has been issued to replace the previous CUSIP number. There is no change in the capitalization of the Company pursuant to the Name Change. Certificates representing the common shares of the Company will not be affected by the Name Change and no further actions are required by shareholders.
About PowerBand Solutions Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange, OTC Pink, and Frankfurt markets, is a finance solution and fintech provider disrupting the automotive industry. PowerBand's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, and funders. PowerBand's platform is being made available across the United States.
For further information, please visit the PowerBand website or contact:
Shibu Abraham
Chief Financial Officer and Director
E: info@powerbandsolutions.com
P: 800-600-6872
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 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 in this document includes: future financial position and anticipated timing of the Company's Name Change.
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
What is PowerBand Solutions Inc.'s new name and when does it take effect?
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When was the name change for PowerBand Solutions Inc. (PWWBF) approved by shareholders?
Does the name change from PowerBand Solutions to AmeriTrust affect the company's capitalization?
