PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) this morning announced that Texas-based D&P Holdings, Inc., one of the United States’ largest administrators of automotive warranty and insurance products, will exercise its option to invest an additional USD $2.5 million into PowerBand’s Canadian leasing division, bringing its potential investment to $12.5 million. “I want to assure investors that PowerBand continues its progress to create a platform that will revolutionize how people buy, sell, lease and trade cars and trucks,” PowerBand CEO Kelly Jennings stated in the news release. “This further investment and vote of confidence by D&P, one of America’s leaders in the insurance industry, demonstrates we are on track to obtain extensive credit facilities that will allow consumers to acquire electric and traditional vehicles as easily as you buy a product from Amazon or order an Uber on your smart phone.”
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About PowerBand Solutions Inc.
PowerBand Solutions is a technology provider listed on the TSX Venture Exchange. The company’s cloud-based platform is revolutionizing the buying, selling, leasing and auction of vehicles. With the receipt of its exporter license and its acquisition of MUSA Auto Finance, PowerBand is well positioned to become a leader in the cross-border, used-vehicle export market, the used-vehicle auction market and the vehicle leasing market in the United States and Canada. For more information, visit the company’s website at www.PowerBandSolutions.com.
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