Powerband Announces Appointment of New Director

VANCOUVER, BC / ACCESSWIRE / April 25, 2019 / PowerBand Solutions Inc. (TSX-V: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) (”PowerBand”, ”PBX” or the ”Company”), a leading online automotive auction, remarketing and sales platform in North America, is pleased to announce that it has appointed Darrin Swenson to its board of directors (the ”Board”).

Mr. Swenson has over 24 years of automotive dealership ownership and management experience. Mr. Swenson’s initial ownership experience culminated with his dealership receiving the Honda Excellence Award. Mr. Swenson’s previous automotive management experience began with manufacturer relationships including Dodge, Chrysler, Jeep and then expanded to include GMC, Buick, Porsche, Audi, Jaguar, Land Rover, Volkswagen, and Mitsubishi. Mr. Swenson served as Chief Operating Officer for Hunt Automotive Group, effectively managing four franchise dealerships in adjoining states. Mr. Swenson presently presides as COO for an independent auto auction company with locations in Springdale, Arkansas, and Wichita, Kansas consigning over 350,000 vehicles and contributing over USD$1.0 billion in sales to the retail and wholesale automobile market. Mr. Swenson is also actively involved in the roll out of D2D Auto Auctions, an automotive online remarketing network in the United States that is owned equally by PowerBand and Bryan Hunt (see news release dated April 2, 2019).

Mike Moen, President and COO of PowerBand, stated: ”We are very pleased to have someone of Darrin’s automotive and business experience join PowerBand’s Board. Darrin’s in depth knowledge of the wholesaler and dealer markets within the used vehicle remarketing industry, as well as his vast manufacturer contacts, will be instrumental as we grow the D2D Auto Auctions platform across the United States.”

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 online auction 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, inventory management, market intelligence, and appraisal processes.

For further information, please contact:

Richard Goldman, VP Corporate Development, PowerBand
P: 1-866-768-7653
rgoldman@powerbandsolutions.com

FORWARD-LOOKING STATEMENTS

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.

SOURCE: PowerBand Solutions Inc.

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