PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA), a fintech provider disrupting the automotive industry, today announced that, upon receipt of final acceptance from the TSX Venture Exchange, it has executed a common voting stock purchase agreement to acquire up to 15% of CB Auto Group, Inc.’s issued and outstanding common shares for aggregate consideration of USD $5,000,000. Under the agreement, CB Auto’s over 67 million members will be directed to DRIVRZ(TM) when looking to acquire new or used vehicles. Additionally, PowerBand will be able to market DRIVRZ, along with associated services and products, exclusively to that membership. “I’m delighted that millions of U.S. consumers will soon have access to DRIVRZ to buy, lease, sell, trade and finance their cars and trucks on a smart phone as easily as buying a product on Amazon,” said PowerBand CEO Kelly Jennings. “We expect to be fully integrating CB Auto’s powerful member databases into DRIVRZ in the very near future.”
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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 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, visit www.PowerBandSolutions.com.
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