Powerband Appoints INFOR Financial Inc. for Market Maker Services
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2018) - PowerBand Solutions Inc. (TSXV: PBX) (OTCQB: PWWBF) (FSE: 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.
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