Powerband Appoints Infor Financial Inc. For Market Maker Services
Vancouver, British Columbia - (Newsfile Corp. – October 23, 2018) – PowerBand Solutions Inc. (TSXV: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) (“PowerBand” or the “Company”), a leading online auction and remarketing platform to buy and sell used vehicles, is pleased to announce that it has retained INFOR Financial Inc. (“INFOR Financial”) to provide market making services on the TSX Venture Exchange (the "TSX-V"), in compliance with the policies and guidelines of the exchange.
INFOR Financial will trade the securities of PowerBand on the TSX-V for the purpose of maintaining an orderly market and to provide liquidity of PowerBand’s common shares. PowerBand will pay INFOR Financial $6,000 per month for a minimum term of four months renewable every month thereafter. Each party will have an option to cancel upon thirty days' prior notice. There are no performance factors contained in the agreement and INFOR Financial will not receive shares or options as compensation. INFOR Financial and PowerBand are unrelated and unaffiliated entities, but INFOR Financial and/or its clients may have an interest, directly or indirectly, in the securities of PowerBand.
PowerBand 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.
About INFOR Financial
INFOR Financial Inc. is a leading Canadian independent investment bank offering advice on mergers and acquisitions, capital raises, risk management, private funds and corporate restructurings. Since inception, INFOR Financial Inc. has consistently been ranked as one of the top independent M&A advisors in Canada.
For further information, please contact:
Richard Goldman, VP Corporate Development
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.
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