InvestorNewsBreaks – PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) Announces up to $12M Brokered Private Placement, Results of Annual General Meeting

June 16, 2021 08:40:40
PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA), a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles, has announced its entry into an agreement with Desjardins Capital Markets and Scotiabank, acting as co-bookrunners and co-leads (the “agents”). Under the agreement, the agents have agreed to sell, on a best-efforts private placement basis, up to 17,647,100 common shares of the company, each at a price of $0.68, for gross proceeds of up to $12,000,028. The company has granted the agents an option, exercisable in whole or in part, to sell up to an additional 15% of the offering at the issue price for market stabilization purposes and to cover over-allotments, if any. Total gross proceeds will be approximately $13,800,032 if the agents’ option is exercised in full. PowerBand intends to use the proceeds to fortify its balance sheet, accelerate growth from DRIVRZ Financial and launch DrivrzXchange and DrivrzLane before the end of 2021. “This transaction serves to de-risk our business plan and enables us to attract new capital markets partners and sophisticated investors as we continue to accelerate growth and scale our business,” said PowerBand CEO Kelly Jennings. “This is a very strategic financing as it positions all three business segments to contribute to financial results in 2022.” In addition, the company today announced the results of voting at its annual general meeting of shareholders, which was held virtually on Tuesday, June 15, 2021. According to the update, shareholders voted in favor of all items put forward by the board of directors and management. These include: the number of directors was set at six; MNP LLP has been appointed as the company’s auditor; the 2021 Incentive Stock Option Plan (20% Fixed Plan) was approved by disinterested shareholders, reserving for issuance up to 33,372,093 common shares of the company; and the 2021 Restricted Share Unit Plan was approved by disinterested shareholders, reserving for issuance a maximum of 8,000,000 common shares of the company. To view the full press releases, visit and 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 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 any phone, tablet or PC connected to the internet. PowerBand’s transaction platform – DRIVRZ – will be available across North American and global markets. For more information, 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.