PowerBand Solutions Inc. Provides Update on MCTO Status

TORONTO, ON - PowerBand Solutions Inc., a technology firm listed on TSXV and OTC PINK, has issued a bi-weekly update in compliance with National Policy 12-203 concerning Management Cease Trade Orders (MCTO). The company had previously requested an MCTO due to delays in filing their financial reports for the year ending December 31, 2023, which was granted on April 30, 2024, by the Ontario Securities Commission. The officials are barred from trading the company’s securities during the MCTO, but this does not impact other shareholders.

PowerBand ensures that the delay in filing, announced on April 16, 2024, remains the only material change unrevealed. They confirm no additional specified defaults have occurred under NP 12-203, and the essential information regarding the company's operations remains fully disclosed. PowerBand is expecting to complete and file all pending financial documentation by June 15, 2024, and will continue to provide bi-weekly updates as part of the regulatory compliance.