PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt:
1ZVA) today announced that it has secured a further USD $600,000 from
Texas-based D&P Holdings, Inc. (“D&P”). According to the update, the
company, due to having sufficient operational funds, has made a strategic
decision not to draw down further at this time from D&P, which has
committed up to USD $10 million. The company is on target for commercialization
of its virtual-transaction platform that allows consumers and automotive dealers
to buy, sell, lease, trade and finance vehicles from any location, using their
smart phones or other digital devices. “PowerBand’s mission is well-capitalized
and on track to deliver the automotive industry a virtual-transaction platform
that will allow the remote acquisition and sale of vehicles,” PowerBand CEO
Kelly Jennings said in the news release. “Our virtual auctions, launched in
April, are growing in popularity and we are now in advanced negotiations to
acquire extensive institutional credit lines that will be made available to
consumers and dealers on the PowerBand platform. For this reason we have
decided we have no current need to draw down additional debt.”
To view the full press release, visit http://ibn.fm/Csdv5
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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