PowerBand Solutions Secures CAD$10.9M in Private Placement for Expansion and Innovation

PowerBand Solutions Inc. (TSXV:PBX)(OTC Pink:PWWBF)(Frankfurt:1ZVA), a fintech company targeting the automotive industry, has successfully completed a non-brokered private placement, raising CAD$10,884,500. The company issued 217,690,000 common shares at CAD$0.05 per share. This infusion of capital will enable PowerBand to fund growth initiatives, implement a "Lender Remarketing" division, and develop innovative hybrid finance alternatives.


PowerBand's CEO, Jeff Morgan, expressed gratitude for the support of existing and new investors, stating that the capital raised will position the company, soon to be rebranded as AmeriTrust, to expand its lease portfolio, implement the "Lender Remarketing" division, and introduce innovative hybrid finance alternatives.

The "Lender Remarketing" division will provide banks, credit unions, and lenders with a more profitable solution to remarketing repossessions and end-of-term leases. By integrating this division with PowerBand's existing fintech platform, the company aims to enhance overall service offerings and customer experience. To differentiate itself from existing remarketing services, PowerBand will leverage its technology and expertise to offer a streamlined, efficient, and profitable remarketing process for lenders.


To attract and retain lenders for its "Lender Remarketing" division, PowerBand will focus on offering competitive pricing, exceptional service, and innovative technology solutions. By demonstrating the value and profitability of its remarketing services, PowerBand aims to build strong relationships with lenders and become their preferred remarketing partner.

PowerBand plans to allocate the CAD$10,884,500 raised in the private placement to fund growth initiatives, including the development of the "Lender Remarketing" division and the introduction of hybrid finance alternatives. The company expects these investments to generate significant returns, as they will enable PowerBand to expand its service offerings, attract new customers, and increase market share.

In conclusion, PowerBand Solutions' successful private placement will enable the company to fund its growth initiatives, implement a "Lender Remarketing" division, and develop innovative hybrid finance alternatives. By leveraging its fintech platform and expertise, PowerBand is well-positioned to disrupt the automotive industry and generate significant value for its shareholders.