NetworkNewsBreaks – PowerBand Solutions Inc. (TS
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Posted On: 01/25/2021 4:44:44 PM
NetworkNewsBreaks – PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) Plans Private Placement Financing with $5.3M Potential
PowerBand Solutions’ (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) has announced that it intends to complete a non-brokered private placement financing. The private placement should result in $5.3 million gross proceeds for PowerBand, which plans to use the money to support its continual development, growth, market expansion and for general working capital purposes. As announced by the company, the private placing will be comprised of up to 18,275,862 units to be offered at $0.29 per unit, resulting in the aforementioned $5.3 million. Each unit offered will be comprised of one common share as well as one common share purchase warrant, which will allow the holder to purchase one common share of the company for $0.49 up to 24 months after the initial purchase. PowerBand Solutions is a fintech provider disrupting the automotive industry by offering an integrated, cloud-based transaction platform that facilitates transactions among consumers, dealers, funders and manufacturers (“OEMs”). In the announcement, Powerband noted that it hopes to close the private placement over the next two weeks in one or more tranches. The announcement also indicated that finder warrants will be exercisable at $0.49 per common share for 24 months after the warrants are issued. While TSX.V has provided conditional approval for the private placement, the exchange must approve the closing.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
PowerBand Solutions’ (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) has announced that it intends to complete a non-brokered private placement financing. The private placement should result in $5.3 million gross proceeds for PowerBand, which plans to use the money to support its continual development, growth, market expansion and for general working capital purposes. As announced by the company, the private placing will be comprised of up to 18,275,862 units to be offered at $0.29 per unit, resulting in the aforementioned $5.3 million. Each unit offered will be comprised of one common share as well as one common share purchase warrant, which will allow the holder to purchase one common share of the company for $0.49 up to 24 months after the initial purchase. PowerBand Solutions is a fintech provider disrupting the automotive industry by offering an integrated, cloud-based transaction platform that facilitates transactions among consumers, dealers, funders and manufacturers (“OEMs”). In the announcement, Powerband noted that it hopes to close the private placement over the next two weeks in one or more tranches. The announcement also indicated that finder warrants will be exercisable at $0.49 per common share for 24 months after the warrants are issued. While TSX.V has provided conditional approval for the private placement, the exchange must approve the closing.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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