End-to-end transaction support, protection and service are key features.
VANCOUVER, BC (February 9, 2021) – PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (Frankfurt:1ZVA) (“PowerBand“, “PBX” or the “Company“), is a disruptive fintech platform solution leading the transformation of the retail auto industry to an online consumer experience to purchase, lease, trade, and finance vehicles, by affording consumers the same simplicity, confidence, and convenience they have become accustomed to with other major online retail verticals. Online auto services heretofore have been simple “purchase” or “sell” services. DRIVRZ™ is distinctly different offering a 360-degree, protected, full-service, experience including purchasing, leasing, trade negotiating, financing, protection products, home delivery, satisfaction guarantee return policies, transactional support, and ombudsmen resolution services from end-to-end. DRIVRZ™ also gives the consumer to option to work with a local dealer.
“Buying a product online is one thing, but buying transportation online is serious business” said PowerBand’s President Jon Lamb. “The consortium of service providers we have contracted under the DRIVRZ™ Platform are some of the industry’s most experienced and respected entities, which is of paramount importance in making the consumer feel comfortable and confident in transacting tens of thousands of dollars online for their transportation needs.”
The DRIVRZ™ Platform offers the best, bar none, buying power and experience to millions of union and affinity group members.” said John Perez CEO of the CB Auto Group. “Members will have limitless access to the industry’s largest vehicle footprints with over 4,500,000 vehicles. As a two-sided market, the DRIVRZ™ Platform also provides valuable information and transaction potential to thousands of participating auto dealerships who will have the opportunity to work with our union and affinity members.” PowerBand has invested $1,000,000 in CB Auto Group and currently holds 15% of the company, with the expectation of increasing that position in the future.
The Program’s 14-day Satisfaction Guarantee Return Policy, and the trade-in program featuring (i) selling/negotiating services of the consumer’s trade to get the best price possible, and (ii) no negative equity, are attractive features in gaining consumer confidence. PowerBand’s growing influence will afford its customers exceptional “buying” and “selling” power in a fully transparent transaction.
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.
About CB Auto Group, Inc.
Founded in 2016, CB Auto Group provides union members, and their families, access to the Union Auto Program, which offers car buying services, free benefits, fair pricing, and protective products, all designed to provide transparency and confidence when they purchase or lease and new or used vehicle. CB Auto augmented its automotive program in 2020 by launching the CB Absolute Advantage, an “affinity” members program. The Absolute Advantage program has associations with The Alumni of Georgia Tech, the University of Tennessee, ADP, Nike and many others, which brings their total consumer base to over 70 million members.
For further information, please contact:
Jon Lamb
E: [email protected]
P: 866 768 7653
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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.
