- PowerBand's finance arm, DRIVRZ Financial, has been approved for two additional US $1-Billion-dollar EV lease lines from Unify Financial Credit Union and Valley Strong Credit Union.
- These two lines are in addition to previously announced lease lines.
VANCOUVER, BC / ACCESSWIRE / May 4, 2021 / PowerBand Solutions (TSXV:PBX) (OTCQB:PWWBF) ('PowerBand' 'PBX' or the 'Company'), a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles, is announcing a recent approval to access two US $1 Billion lease lines targeted towards the DRIVRZ™ EV leasing initiative on DRIVRZ Financial platform (formerly MUSA Auto Finance).
PowerBand believes these new EV lease lines position DRIVRZ™ to become the premier EV leasing option in the industry.
The new EV lease lines, which can be expanded as demand increases, have been made available from Unify Financial Credit Union and Valley Strong Credit Union, two of the United States' leading credit unions.
These are in addition to the existing lease and finance lines which were previously announced. Jon Lamb, CEO of DRIVRZ Financial, will present a Company release later this week to outline the full scope of DRIVRZ Financials' lease and loan lines now available to the Company.
'This latest development is confirming our intent to become the North American leader in EV leasing,' said Lamb. 'Utilizing our unique online leasing experience, we will be able to offer customers an approval on an EV lease in as little as 8 seconds. This demonstrates our ongoing commitment to providing unique products and the stellar customer experience that consumers have come to expect from DRIVRZ Financial.'
Kelly Jennings, CEO and Founder of PowerBand Solutions added: 'It is tremendously exciting to be positioned as a leader in this burgeoning industry. EV's represent a shift in the automotive retail marketplace away from the traditional ownership journey, and we believe that DRIVRZ Financial will be able to provide consumers with the progressive experience they expect.
'We are eager to show the EV industry how we are positioning DRIVRZ Financial to be the benchmark for a consumers' EV-leasing experience. These new lines, coupled with our unique software, allow us to put our financing plans immediately into full effect. These additional funds will allow us to continue to pursue our goal of being the preferred vendor for EV OEM leasing. We are excited to demonstrate to our shareholders, and potential investors, the market opportunity of the solutions we have built.'
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About PowerBand Solutions Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand's integrated, cloud-based transaction 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™ - is being made available across North American and global markets.
Neither 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.
This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as 'will', 'may', 'should', 'anticipate', 'expects' and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
SOURCE: PowerBand Solutions Inc.
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