PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt:
1ZVA), together with its partner D2D Auto Auction LLC, today announced the
successful launch and completion of “virtual” auctions in the United States.
According to the update, the two virtual auctions, held on April 7 and 16, were
highly successful and proved the speed and efficiency of D2D’s unique
transaction platform, an alternative to physical auctions and associated costs.
Using the D2D platform, dealers and consumers benefit with elimination of the
cost of delivering a vehicle to a physical auction and payment of a minimal
transaction fee only after a car is successfully sold. “The success of our
virtual auctions, which are generating huge demand, is another major
development for PowerBand and D2D,” PowerBand CEO Kelly Jennings said in the
news release. “The COVID-19 pandemic has disrupted many industries across the
world, including the automotive dealership and auction industries. Consumers
are re-evaluating how they personally interact with dealerships with regards to
their new or used-car purchases. Dealerships themselves, have had to quickly
adapt to an environment where the purchase and sale of vehicles at a physical
auction is presently not a viable option. Our cloud-based auction platform is
now fully functional and can replace traditional physical auctions across North
America, as well as greatly reducing the costs to dealers since we only take a
fee when a vehicle is actually sold.”
To view the full press release, visit http://ibn.fm/ahPJr
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. For
more information, visit www.PowerBandSolutions.com.
NOTE TO INVESTORS: The latest news and updates relating
to PWWBF are available in the company’s newsroom at http://ibn.fm/PWWBF
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