Business
PowerBand Announces Closing of the Second Tranche of Private Placement
TORONTO, ON / ACCESSWIRE / June 21, 2024 / PowerBand Solutions Inc . (TSXV:PBX)(OTC Pink:PWWBF)...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"PowerBand Announces Closing of the Second Tranche of Private PlacementTORONTO, ON / ACCESSWIRE / June 21, 2024 / PowerBand Solutions Inc. (TSXV:PBX)(OTC Pink:PWWBF)(Frankfurt:1ZVA) (\"PowerBand\", \"PBX\" or the \"Company\"), a comprehensive trading and financing technology platform transforming the online experience to sell, trade, lease, and finance vehicles, is pleased to announce it has completed the second tranche of its non-brokered private placement of common shares (each, a \"Common Share\") in the capital of the Company, pursuant to which it has issued an aggregate of 77,133,330 Common Shares at a price of CAD$0.015 per Common Share raising gross proceeds of CAD$1,157,000 (collectively, the \"Second Tranche\").The aggregate gross proceeds from the Second Tranche, together with proceeds of CAD$1,040,000 from the first tranche, which closed on April 26, 2024, will be used to fund growth initiatives, and for general corporate and working capital purposes, including supporting lease origination.All securities issued in connection with the Second Tranche are subject to applicable statutory hold periods.About PowerBand Solutions Inc.PowerBand Solutions Inc., listed on the TSX Venture Exchange, OTC Pink, and Frankfurt markets, is a fintech provider disrupting the automotive industry. PowerBand's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, and funders PowerBand's transaction platform is being made available across the United States of America.For further information, please visit the PowerBand website or contact:Shibu AbrahamChief Financial Officer and DirectorE: [email protected]: 1-866-768-7653Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.Forward-Looking InformationCertain information included herein is forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information may include statements regarding the objectives, business strategies to achieve those objectives, expected financial results (including those in the area of risk management), economic or market conditions, and the outlook of or involving PowerBand, its subsidiaries and its businesses. Such information is typically ide...