Vancouver, British Columbia – (Newsfile Corp. – April 26, 2018) - PowerBand Solutions Inc. (TSXV: PBX) (“PowerBand” or the “Company”) a leading online remarketing platform to buy and sell used vehicles, is pleased to announce that it has retained Minera IR Inc. (“Minera”) to provide the Company with strategic investor relations and financial communications services. Minera is an investor relations firm based out of Toronto, with a focus on broadening market awareness and engagement with the institutional and retail investment communities. Minera will be responsible for marketing and shareholder communications as well as the development and implementation of a strategic investor relations program, which includes enhancing the Company’s exposure among industry stakeholders and investors across Canada, the United States and Europe.
Mr. Patrick Piette, the President and founder of Minera, previously worked at TMX Equicom where he provided investor relations counsel to over 20 companies during his 3+ years. He also worked in equity research, M&A and advisory services at RBC Dominion Securities and CIBC World Markets. Mr. Piette is a graduate of Concordia University and a Chartered Financial Analyst.
Under the terms of an investor relations agreement between PowerBand and Minera effective April 24, 2018 (the “Agreement”) PowerBand will pay Minera a monthly fee of $5,000 for select strategic investor relations services on a month to month basis, terminable at any time by either party, upon providing 30 days written notice.
In addition, Minera may be granted stock options to purchase up to 62,500 common shares in the capital of the Company at an exercise price of $0.225 for a period of 3 years. The options will vest in 25% tranches quarterly, beginning 3 months from grant, in accordance with the policies of the TSX Venture Exchange (the “Exchange”). The Agreement and the stock option issuance remain subject to the approval of the Exchange. Minera has advised the Company that Patrick Piette currently owns 16,666 common shares of the Company and 8,333 warrants to acquire common shares of the Company at an exercise price of $0.60 until February 2021.
About PowerBand Solutions Inc.
PowerBand Solutions Inc. is a technology provider listed on the TSX Venture Exchange that is developing solutions for automotive and other industries that drive efficiency and transparency in the marketplace. PowerBand has developed and commercialized a leading-edge Software-as-a-Service remarketing platform that increases revenues and profit margins for its automotive dealership, Original Equipment Manufacturer, commercial fleet and rental company customers.
PowerBand’s remarketing platform, the PowerBand Exchange, incorporates the industry’s latest auction technologies, market intelligence, and appraisal processes to increase its customers’ control and productivity.
For further information, please contact:
Richard Goldman, Vice President, Finance
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.
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.