Powerband Solutions

Three Company Consortium to Revolutionize the Auto Buying Experience for Millions of Union and Affinity Group Members

VANCOUVER, British Columbia (December 22, 2020) PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (Frankfurt:1ZVA) (“PowerBand“, “PBX” or the “Company“), CB Auto Group, Inc. and D&P Holdings, Inc. have entered into definitive agreements to afford millions of union and affinity group members with an unparalleled group buying power experience right from home on their smart phone, tablet or computer.

Effective in the first quarter of 2021, the PowerBand virtual transaction platform DRIVRZ™ website will be available to over 70 million members of the CB Auto membership base, along with best-in-class automotive products and buyer protection programs from D&P Holdings. This automotive trifecta empowers members to buy, trade, finance, lease, and equip their vehicle purchase with the full support and oversight of the consortium, and the thousands of dealerships in their network. Millions of new and quality used vehicles will be available to members at exceptional savings, along with top trade-in values on their current vehicles.

D&P Holdings provides members with a suite of additional automotive products and services, including, their 3D 14-Day Exchange Program if the member is not happy with their purchase, and a suite of financial service options such as Extended Warranty, GAP coverage, Tire and Wheel and Excess Wear and Tear Coverage.

“I’m delighted that millions of U.S. consumers will now have access to our DRIVRZ™ website to buy, sell, lease, trade and finance their cars and trucks on a smart phone as easily as buying a product on Amazon.” said PowerBand CEO Kelly Jennings.

“I founded CB Auto Group and the Union Auto Program to provide members and union workers an exclusive auto-buying service that protects them and offers benefits like no other in the market.” said John Perez CB Auto Group CEO. “After years of helping members save money with a hassle-free experience, the new partnership will add unprecedented benefits to make our program the best in the industry. Leaders across the country have already expressed their gratitude for our program helping union members with additional benefits. I am fully committed to helping all of our members and their families.”

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.

About D&P Holdings, Inc.

D&P is one of the United States’ largest administrators of automotive warranty and insurance products, directly working with more than 850 dealerships in all 50 states. D&P under the leadership of John Armstrong, and their team, are highly respected leaders in the automotive retail and insurance sectors. D&P has been granted exclusive global rights to act as administrator for new insurance products being sold globally through PowerBand’s DRIVRZ™ transaction platform. These include administrating all requested and approved vehicle services contracts, auto warranty products, guaranteed asset protection, down payment protection, excess wear and tear, key replacement, windshield replacement, tire and wheel, ETCH/anti-theft, lease wrap, and all ancillary products.

For further information, please contact:

Kelly Jennings
Chief Executive Officer
P: 1-866-768-7653
info@powerbandsolutions.com

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.

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.

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