Business
PowerBand Provides Bi-Weekly MCTO Status Update
TORONTO, ON / ACCESSWIRE / June 26, 2024 / PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(F...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"PowerBand Provides Bi-Weekly MCTO Status UpdateTORONTO, ON / ACCESSWIRE / June 26, 2024 / PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Frankfurt:1ZVA) (\"PowerBand\" or the \"Company\") is providing a bi-weekly status update in accordance with the National Policy 12-203 - Management Cease Trade Orders (\"NP 12-203\").As previously announced on April 16, 2024 (the \"Default Announcement\"), the Company applied for the MCTO due to a delay in the filing of the audited consolidated financial statements for the year ended December 31, 2023, annual management's discussion and analysis for the same period and management certifications of annual filings (collectively, the \"Filings\"). The MCTO was granted by the Ontario Securities Commission on April 30, 2024.The Company completed the Filings on June 14, 2024, and the unaudited interim financial statements, related management's discussion and analysis and CEO and CFO certifications for the period ended March 31, 2024, was filed on June 24, 2024, and copies are available under the Company's profile at SEDAR+. The Company anticipates that the MCTO will be lifted on June 26, 2024.The MCTO restricts the Company's Chief Executive Officer and Chief Financial Officer from trading in the Company's securities but does not affect the ability of other shareholders, including the public, to trade in securities of the Company.The Company confirms that since the date of the Default Announcement: (i) other than as described above, there has been no material change to the information set out in the Default Announcement that has not been generally disclosed, (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203, and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.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 availab...