PowerBand Solutions Completes Private Placement

PowerBand Solutions Inc., a fintech platform focused on automotive lease originations, has finalized a non-brokered private placement. The company issued 217,690,000 common shares at CAD$0.05 per share, raising a total of CAD$10,884,500. The funds will be deployed for growth initiatives, corporate purposes, and working capital.

CEO Jeff Morgan expressed gratitude for investor participation and highlighted plans to expand lease services and develop a new "Lender Remarketing" division. This will provide financial institutions with more profitable remarketing options. PowerBand also intends to introduce hybrid finance alternatives in the future.

Common shares from the private placement are subject to statutory hold periods. Commissions will be paid to several financial entities, including Canaccord Genuity Corp. and RBC Dominion Securities.