Premier Automotive Group has 24 dealerships with sales approaching USD $1 billion
VANCOUVER, British Columbia (October 23, 2020) —Premier Auto Group (“Premier Auto”), one of the United States’ fastest growing auto dealership networks, has signed its dealers onto DRIVRZ, the virtual transaction platform from PowerBand Solutions Inc. (TSXV: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) (“PowerBand“, “PBX” or the “Company”).
With sales from its 24 dealerships nearing USD $1-billion, Premier Auto’s dealers will have access to the DRIVRZ virtual transaction platform. They will have access to 4.5 million new and used cars. As well, DRIVRZ enables dealers and consumers to buy, lease, sell, trade and finance cars, as well as purchase insurance, on a smart phone, tablet or computer from any location.
Premier Auto was founded in 1995 by businessman and philanthropist Troy Duhon in New Orleans and has grown to 24 dealerships in California, Kansas, Louisiana, Texas and Missouri. Automotive News highlighted Premier Auto as one of the fastest and most innovative automotive dealerships in the United States.
“The DRIVRZ platform offers an exciting new way for people to buy, lease, sell and trade in cars and trucks, all on one digital platform, and it will offer car dealers and consumers unparalleled access to the automotive marketplace and the vehicles within it,” said Mr. Duhon.
“The industry has needed something like this for a long time and now it’s here, with DRIVRZ” he added. “We are delighted to be part of DRIVRZ and be at the forefront of this digital transformation for the automotive industry.”
Mr. Duhon is the founder of Giving Hope, a New Orleans-based not-for-profit that feeds, clothes, houses and provides fellowship to those in need, both locally and around the world.
Under the agreement, Premier Auto dealerships pay a monthly subscription fee to access DRIVRZ full suite of services and databases. PowerBand is now selling its subscription service to dealers across the United States. Consumers are not charged for using DRIVRZ.
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.
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.
For further information, please contact:
Richard Goldman, VP Corporate Development
P: 1-866-768-7653
[email protected]
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.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
