DrivrzXchange Consumer to Consumer Vehicle Auctions Are Live In Arkansas and Surrounding Area

March 31, 2021

Powerband’s latest consumer focused car buy and sell site is available at www.drivrzXchange.com

VANCOUVER, BC / March 29, 2021 / DrivrzXchange, the online consumer auction platform of PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (Frankfurt:1ZVA) (“PowerBand“, “PBX” or the “Company“), has begun a pilot launch in Northwest Arkansas, with plans to rapidly expand into select markets nationwide.

The C2C auction portal of DRIVRZ™, branded drivrzXchange, is a marketplace that allows verified users to buy or sell vehicles online. Powerband’s drivrzXchange platform provides Buyers and Sellers a safe and hassle-free platform to secure the best deal for their vehicle. By incorporating features such as Identity verification, third party valuations and a 7-day buyer satisfaction guarantee, drivrzXchange hopes to encourage private sellers from using car buying services that rely on lower offers with the promise of quick money. By featuring the vehicle in an open and transparent marketplace, sellers and buyers can expect to arrive at a fair valuation of the vehicle without the need for a third party in the transaction.

After registration, users must validate their identity within the platform before they are able to list or bid on vehicles. This extra validation step ensures that curbsiders, scammers and fraudsters are not able to work with anonymity found on other consumer focused sites. Personal user information between buyers and sellers is kept always hidden, with only drivrzXchange needing to know real identities. Vehicles are uploaded by decoding the VIN, after which users are guided through the disclosure of relevant vehicle information, including photographs necessary to accurately describe the vehicle. Once successfully uploaded, the vehicle is placed into a drivrzXchange scheduled auction, and being sold to the highest bid from the virtual audience. Sellers and Buyers have the option to pick up or drop off at the closest concierge location or optionally use transportation services. Vehicles undergo a post-sale inspection, ensuring that seller descriptions are complete and accurate prior to the Buyer arranging payment and pick up or delivery. All private sales will come with a hassle free 7-day guarantee after taking possession of the vehicle.

“DrivrzXchange is superior to other live auctions, listing sites and car buying services because it offers anyone who is in the market to buy or sell a vehicle with a platform that provides the tools necessary for a safe hassle-free experience, with no unnecessary middlemen and expensive fees.” said Jon Lamb, President of PowerBand’s North American Operations. “After this pilot phase, drivrzXchange will be released into select markets nationwide, with the end goal to have complete US coverage, for anyone to use. We expect this to transform how Americans buy and sell cars online.”

DrivrzXchange builds on the success of Driveaway, the C2D virtual auction that began last spring in the United States and have been offered to US automotive dealerships. It is a 50-50 partnership between PowerBand and its partner D2D Auctions, founded by Arkansas Financier Bryan Hunt, Director of J.B Hunt Transport.

“DrivrzXchange is a key part of the vision of DRIVRZ™,” said Kelly Jennings. “It’s one more way in which DRIVRZ™ will transform how people to use their digital devices to buy and sell a car, truck, RV or boat from any location. After this pilot phase, driverzXchange will be released into select markets nationwide, with the end goal to have complete US coverage, for anyone to use. We expect this to transform how Americans buy and sell cars online.”

DrivrzXchange is the latest component of PowerBand’s vision to have DRIVRZ™ be the transparent marketplace that eliminates unnecessary middlemen, to make the automotive retail experience as simple as purchasing a product on Amazon or selling on eBay. By using the services on the DRIVRZ™ platform, drivers and dealers will be able to buy, lease, auction, sell, finance and insure vehicles from any digital device, from any location.

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.

For further information, please contact:

Kelly Jennings
Chief Executive Officer
P: 866-768-7653
E: info@powerbandsolutions.com

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