InvestorNewsBreaks – PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) Announces 60% Acquisition of Leading iPad Solution for Auto Dealers, Drivers

October 29, 2020 09:47:58
PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA), a leader in online vehicle transactions using smartphones, has announced that it has added IntellaCar to its virtual transaction platform. PBX made the addition by signing a membership interest purchase agreement through its subsidiary DRIVRZ US LLC. (“DRIVRZ US”) to acquire 60% of IntellaCar, a leading iPad solution for automotive dealers and drivers. The agreement outlines plans for DRIVRZ to pay $1.5 million in cash, along with 2 million common shares of PBX, for the transaction. The total purchase price, which was negotiated at arm’s length and is based on an issuance price of CDN$0.225 per share, totals CDN$2.42 million. Currently already in use by car dealerships throughout the United States, IntellaCar enables automotive dealers and consumers to purchase and trade-in vehicles on a tablet device. The company offers a broad video and print library of vehicles that provides comprehensive information about available vehicles. Based on feedback from car dealers, IntellaCar increases sales, boosts productivity and efficiency, and generates higher finance and insurance uptakes. Following the acquisition, IntellaCar’s current executive team will remain in place, while DRIVRZ will appoint three members to IntellaCar’s board of directors. “With IntellaCar we now have an incredibly user-friendly platform that dealers and consumers can use in a dealership, or from any location, to search, finance and purchase a vehicle,” PowerBand CEO Kelly Jennings stated in the press release. “PowerBand will offer access to more than 4.5 million new and used vehicles and IntellaCar is the simple-to-use interface that makes buying, selling, leasing and financing a car as easy as buying something on Amazon.” To view the full press release, visit About PowerBand Solutions Inc. PowerBand Solutions, 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 among consumers, dealers, funders and manufacturers (“OEMs”). The platform enables users 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 — will be available across North American and global markets. For more information, please visit NOTE TO INVESTORS: The latest news and updates relating to PWWBF are available in the company’s newsroom at

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published:

InvestorWire (IW) 8033 Sunset Blvd Suite 1037-IW Los Angeles, CA 90046 310.299.1717 Office

InvestorWire is part of the InvestorBrandNetwork.