PowerBand Solutions Inc. Announces:
PowerBand Solutions Inc. Announces:
- Closing of a First Tranche of its Previously Announced Private Placement with Investor Group Led by J. Bryan Hunt Jr., Joe Poulin and Pierre Lassonde;
- Loan Agreement;
- Shares for Debt Transaction;
- Management and Board Changes; and
- Potential New Control Person
- 完成其先前宣布的与投资者集团的第一批私募,由J·布莱恩·亨特、乔·波林和皮埃尔·拉松德领导;
- 贷款协议;
- 用于债务交易的股份;
- 管理层和董事会的变动;以及
- 潜在的新控制人
TORONTO, ON / ACCESSWIRE / June 22, 2022 / PowerBand Solutions Inc. (TSXV:PBX)(OTCQB: PWWBF) ("PowerBand" "PBX" or the "Company"), a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles, announces the closing of a first tranche (the "First Tranche") of its previously announced private placement financing (the "Financing"), announced on May 10, 2022. PowerBand today issued 62,037,560 units (the "Units") at a subscription price of CAD $0.30 per unit for gross proceeds of CAD $18,611,268 (approximately US $14,330,676). Each Unit consists of one common share of the Company and one warrant, each warrant exercisable for one additional common share at an exercise price of CAD $0.40 for a period of 60 months.
多伦多,于/ACCESSWIRE/2022年6月22日/Powerband Solutions Inc.(多伦多证券交易所股票代码:PBX)(OTCQB:PWWBF)(“电力带" "PBX"或"公司),一种全面的电子商务解决方案,将在线体验转变为销售、交易、租赁和融资工具,宣布第一批(第一批“)其先前宣布的私募融资(The”融资“),于2022年5月10日宣布。Powerband今天发行了62,037,560台(The单位“)认购价为每单位0.30加元,总收益为18,611,268加元(约14,330,676美元)。每个单位由一股本公司普通股和一份认股权证组成,每份认股权证可按行使价0.40加元行使,每股认股权证可额外行使一股普通股,为期60个月。
PowerBand is pleased to announce that it has attracted a third strategic shareholder, Pierre Lassonde, to the previously disclosed strategic investor group of J. Bryan Hunt Jr. and Joe Poulin, further bolstering shareholder value. Mr. Lassonde has extensive experience investing in early-stage growth companies and will provide significant value to the Company as it continues on its growth plan.
Powerband很高兴地宣布,它已经吸引了第三个战略股东Pierre Lassonde加入之前披露的J.Bryan Hunt Jr.战略投资者集团。和乔·波林,进一步提升了股东价值。Lassonde先生在投资早期成长型公司方面拥有丰富的经验,随着公司继续实施其增长计划,他将为公司提供巨大的价值。
The Company intends that the aggregate size of the Financing will be for gross proceeds of CAD$23,806,308 (approximately US $18,330,852). The Company expects that a second tranche closing for the balance of the subscription proceeds will be completed in approximately 10 calendar days, subject to regulatory approval.
公司拟融资总规模为23,806,308加元(约18,330,852美元)。该公司预计,认购收益余额的第二批结算将在大约10个日历日内完成,这还有待监管部门的批准。
Proceeds from the Financing will be used for general working capital purposes, product development, marketing and advertising and other strategic growth initiatives, the repayment of certain previously disclosed debt owing to Kelly Jennings as outlined below, and transaction fees. The securities issued pursuant to the Financing will be subject to a four-month hold period from their date of issuance.
融资所得将用于一般营运资金、产品开发、营销和广告以及其他战略增长举措,偿还以下概述的某些先前披露的欠凯利·詹宁斯的债务,以及交易费。根据融资发行的证券将自发行之日起有四个月的持有期。
Loan and Shares for Debt
On May 4, 2022, D2D Auto Auction LLC, the joint venture owned 50% by the Company and 50% by J Bryan Hunt Jr. advanced US$3,519,711 to the Company as a bridge loan (the "Loan"). The Loan was secured against the assets of the Company, bears interest at the rate of prime, and is repayable upon closing of a shares for debt transaction (the "Debt Settlement"), to occur concurrently with the closing of the First Tranche. The proceeds of the Loan were used to make the final purchase price installment on the Drivrz Financial acquisition, and for general working capital purposes. Mr. Hunt funded the Loan and is due to be repaid upon closing of the Financing. The Loan is being settled today by way of the Debt Settlement. The obligations under the loan, being CAD $4,534,092, are being settled by the issuance of 15,113,640 Units at a deemed price of $0.30 per Unit, such Units having the same terms and conditions as the Units being issued in the First Tranche.
以贷款和股份换取债务
2022年5月4日,D2D汽车拍卖有限责任公司,该合资企业由本公司和J Bryan Hunt Jr.分别拥有50%的股份。预支3,519,711美元予本公司作为过渡性贷款(“贷款)。贷款以本公司的资产作抵押,按最优惠利率计息,并于A股债务交易结束时偿还。清偿债务贷款所得款项用于支付Drivrz Financial收购的最终购买价格分期付款,并用于一般营运资金用途。亨特先生为贷款提供资金,并将在融资结束时偿还。贷款今天以债务清偿的方式偿还。贷款项下的债务为4,534,092加元,将通过发行15,113,640个单位的方式清偿,每单位的假定价格为0.30美元,这些单位的条款和条件与第一批发行的单位相同。
Management and Board Changes
The Company also announces the appointment of Darrin Swenson as President and CEO, thereby removing "Interim" from his title, and the appointment of J. Bryan Hunt Jr. as Chairman of the Board. Darrin Swenson, CEO and Director of PowerBand Solutions commented "With this recapitalization, PowerBand can focus on completing its expense restructuring plan by the end of June 2022. We're working diligently on a new comprehensive strategic plan we expect to unveil to stakeholders by the end of the third quarter of 2022 and will provide further updates when appropriate".
管理层和董事会的变动
该公司还宣布任命达林·斯文森为总裁兼首席执行官,从而从他的头衔中去掉了“临时”一词,并任命了小J·布莱恩·亨特。作为董事会主席。PowerBand Solutions首席执行官兼董事首席执行官达林·斯文森评论称:“通过此次资本重组,PowerBand可以专注于在2022年6月底之前完成费用重组计划。我们正在努力制定一项新的全面战略计划,预计将在2022年第三季度末向利益相关者公布,并将在适当时提供进一步更新。”
Powerband also announces that Jon Lamb, who served as the President and CEO of Drivrz Financial LLC, has left the Company for personal reasons. The Company would like to thank Mr. Lamb for his dedication and stewardship and wishes him well in his future endeavours.
Powerband还宣布,曾担任Drivrz Financial LLC总裁兼首席执行官的乔恩·兰姆因个人原因离开了公司。本公司要感谢兰姆先生的奉献和管理,并祝愿他在未来的工作中一切顺利。
Kelly Jennings, the Company's former Chairman, President and CEO, has resigned, and signed a separation agreement providing for the repayment to Mr. Jennings by the Company of CAD$2 million of his loans, with the balance of CAD$2.6 million being repayable within 18 months, subject to Mr. Jennings complying with certain non-compete and confidentiality clauses in the Separation Agreement. These loans are non-interest bearing and were previously disclosed by the Company.
本公司前主席、总裁兼首席执行官Kelly Jennings已辞职,并签署了一份离职协议,规定本公司向Jennings先生偿还200万加元的贷款,余额260万加元将在18个月内偿还,但Jennings先生必须遵守分手协议中的某些非竞争和保密条款。这些贷款是不计息的,之前由本公司披露。
Potential New Control Person
The subscription for Units by Mr. Hunt in the First Tranche and the issuance of the Units to Mr. Hunt pursuant to the Debt Settlement, assuming the exercise of all warrants, will result in him becoming a new "control person" of the Company, as that term is defined by the policies of the TSX Venture Exchange. Following closing of the First Tranche and the Debt Settlement, Mr. Hunt controls 52,646,800 shares of the Company, representing 18.88% on an undiluted basis, and 29.49% on a partially diluted basis. The Company intends to seek shareholder approval for Mr. Hunt to become a control person of the Company. In the meantime, Mr. Hunt has provided an undertaking to the Exchange that he will not exercise or convert any convertible securities which would result in him beneficially owning or controlling, directly or indirectly, more than 19.99% or more the issued and outstanding common shares of the Company.
潜在的新控制人
亨特先生于第一批认购单位及根据债务结算向亨特先生发行单位(假设所有认股权证均获行使)将导致他成为本公司的新“控制人”,该词由多伦多证券交易所创业板政策界定。于完成第一期交易及清偿债务后,亨特先生控制本公司52,646,800股股份,在未经稀释的基础上占18.88%,在部分摊薄的基础上占29.49%。本公司拟寻求股东批准亨特先生成为本公司的控制人。与此同时,亨特先生已向联交所承诺,他不会行使或转换任何会导致他直接或间接实益拥有或控制超过19.99%或以上本公司已发行及已发行普通股的可转换证券。
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 any phone, tablet or PC connected to the internet. PowerBand's transaction platform - being trademarked under DRIVRZ™ - is being made available across North American and global markets.
关于Powerband解决方案公司
在多伦多证券交易所创业板和场外交易市场上市的Power Band Solutions Inc.是一家颠覆汽车行业的金融科技供应商。Powerband的集成、基于云的交易平台促进了消费者、经销商、资助商和制造商(OEM)之间的交易。它使他们能够在任何连接到互联网的手机、平板电脑或PC上购买、销售、交易、融资和租赁新的和二手的电动和非电动汽车。Powerband的交易平台-注册商标为DRIVRZ™-正在北美和全球市场上市。
For further information, please contact:
Darrin Swenson
Chief Executive Officer
E: Darrin.swenson@powerbandsolutions.com
P: 1-866-768-7653
如需更多信息,请联系:
达林·斯文森
首席执行官
电子邮件:Darrin.swenson@Powerband soltions.com
P: 1-866-768-7653
Early Warning Report
Hunt Investment Trust No. 2 (the "Acquiror"), a family trust controlled by J. Bryan Hunt Jr., acquired an aggregate of 41,930,000 Units of the Company pursuant to the Financing and the Debt Settlement. Mr. Hunt previously held 10,716,800 common shares of the Company, or 5.31% of the issued and outstanding common shares of the Company. Following closing of the First Tranche and the Debt Settlement, both parties together controls 52,646,800 shares of the Company representing 18.88% on an undiluted basis, and 29.49% on a partially diluted basis (which partially diluted calculation includes the exercise of all the warrants held by the Acquiror).
预警报告
亨特投资信托基金第2号(“The”收购心理亨特先生先前持有本公司10,716,800股普通股,或本公司已发行及已发行普通股的5.31%。在完成第一期及清偿债务后,双方合共控制本公司52,646,800股股份,按未摊薄基础计算占18.88%,按部分摊薄计算占29.49%(部分摊薄计算包括行使收购方持有的所有认股权证)。
The Acquiror acquired the Units pursuant to (i) a subscription agreement dated of even date herewith and for total proceeds of CAD$ 8,044,908 and (ii) the Debt Settlement (settling obligations of CAD$4,534,092).
收购方根据(I)日期为偶数日期的认购协议及总收益8,044,908加元及(Ii)清偿债务(清偿债务4,534,092加元)收购该等单位。
The Units were acquired by the Acquiror for investment purposes. Each of the Acquiror and Mr. Hunt have a long-term view of the Company and may acquire additional securities of the Company either on the open market or through private acquisitions, or sell securities on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
收购人出于投资目的收购了这些单位。各收购人及Hunt先生均对本公司有长远看法,并可能于未来视市场情况、重新制订计划及/或其他相关因素,在公开市场或透过非公开收购收购本公司额外证券,或在公开市场或透过非公开出售出售证券。
A copy of the Acquiror's early warning report will be filed on the Issuer's SEDAR profile at .
收购方的早期预警报告的副本将在发行人的SEDAR档案中存档,网址为。
For further information, please contact:
Johnnie B Hunt Jr.
E: Bryan.Hunt@powerbandsolutions.com
P: 1-866-768-7653
如需更多信息,请联系:
小约翰尼·B·亨特。
电子邮件:Bryan.Hunt@Powerband soltions.com
P: 1-866-768-7653
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.
TSXV及其监管服务提供商(该术语在TSXV的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
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, the second tranche closing of the Financing, the use of proceeds of the Financing, matters relating to shareholder approval and the Company's strategic plan, 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.
前瞻性陈述
本新闻稿包含与该公司有关的前瞻性陈述和其他非历史事实的陈述。前瞻性陈述通常用“将”、“可能”、“应该”、“预期”、“预期”和类似的表达方式来识别。除历史事实陈述外,本新闻稿中包含的所有陈述,包括但不限于关于公司未来计划和目标、第二批融资结束、融资收益的使用、与股东批准有关的事项以及公司战略计划的陈述,均为前瞻性陈述,涉及风险和不确定因素。不能保证这些陈述将被证明是准确的,实际结果和未来事件可能与这些陈述中预期的大不相同。
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.
提醒读者,在准备任何前瞻性信息时使用的假设可能被证明是不正确的。由于许多已知和未知的风险、不确定性和其他因素,其中许多是公司无法控制的,事件或情况可能会导致实际结果与预测的结果大不相同。因此,我们不能保证任何前瞻性陈述都会成为现实,并告诫读者不要过度依赖任何前瞻性信息。这些信息虽然在准备时被管理层认为是合理的,但可能被证明是不正确的,实际结果可能与预期的大不相同。
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.
本新闻稿中包含的前瞻性陈述明确地受到本警示性声明的限制。本新闻稿中包含的前瞻性陈述是在本新闻稿发布之日作出的,除非加拿大证券法明确要求,否则公司不承担公开更新或修改任何包含的前瞻性陈述的义务,无论是由于新信息、未来事件还是其他原因。
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
本新闻稿不构成在美国出售或邀请购买任何证券的要约。这些证券没有也不会根据修订后的1933年美国证券法(“美国证券法”)或任何州证券法注册,除非根据美国证券法和适用的州证券法注册,否则不得在美国境内发行或出售,除非获得此类注册的豁免。
SOURCE: PowerBand Solutions Inc.
资料来源:Powerband Solutions Inc.