PowerBand’s New CEO Provides Corporate Update

PowerBand Solutions Inc. (TSXV:PBX)(OTC Pink:PWWBF)(Frankfurt:1ZVA) has given a corporate update under the leadership of its new CEO, Jeff A. Morgan. Morgan, founder and CEO of MUSA Auto Finance, resumed his role three months ago with a goal to reinforce the company's position in the U.S. used vehicle leasing market.

Last month, PowerBand completed an oversubscribed private placement financing of CAD $2.2 million. This included significant investment from Morgan himself. Morgan emphasized that addressing legacy corporate and legal matters was his top priority. He noted that major issues were resolved ahead of the expected four to six months timeline.

Morgan also reported a new Remarketing Strategy with a credit union, aiming to maximize returns from off-lease vehicles. PowerBand plans to extend this program to other financial institutions. The focus now shifts to future initiatives designed to generate revenue and innovate the business model.