Powerband Announces Consolidation Approval and Effective Date
April 19, 2018
Vancouver, British Columbia – (Newsfile Corp. – April 19, 2018) - PowerBand Solutions Inc. (TSXV: PBX) (“PowerBand” or the “Company”) announces, further to its news release of April 11, 2018, that the Company has received TSX Venture Exchange approval to consolidate the Company’s issued share capital on a ratio of four (4) old common shares for every one (1) new post-consolidated common share (the “Consolidation”). The Consolidation will be effective at the opening of trading on Friday, April 20, 2018.
The Company will keep the same name and stock symbol. The Company’s CUSIP and ISIN numbers will be changed to 73934B400 and CA73934B4001, respectively.
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 auction and finance portal platform that increases revenues and profit margins for its automotive dealership, Original Equipment Manufacturer, commercial fleet and rental company customers.
PowerBand’s auction 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.