Mr. Shibu Abraham reports

POWERBAND SOLUTIONS ANNOUNCES APPOINTMENT OF NEW CEO AND BOARD MEMBERS AND $2 MILLION FINANCING OF COMMON SHARES

Former MUSA Auto Finance founder and chief executive officer Jeff A. Morgan has returned as chief executive officer of Powerband Solutions Inc. Mr. Morgan will be serving as the new chief executive officer of Powerband Solutions and will also be serving on the board of directors of the company. Previous director and long-term investor Steven Lee has also agreed to return the board of directors, filling two vacancies to the company board.

Mr. Morgan commented: "Darrin Swenson and Bryan Hunt are both world-class individuals and businessmen. They were both instrumental in bringing me to Powerband originally and now responsible for my return to lead the company. I thank them both for their support and confidence in my new business model for Powerband Solutions. I am excited to get started and I look forward to working with Powerband's team, customers and investors."

About Mr. Morgan

Mr. Morgan is a 33-year veteran of the auto industry who specializes in auto leasing and finance. Early in his career, he spent 12 years managing a small auto facilitator in Texas to become the largest direct-to-consumer leasing company in the country. Mr. Morgan was also the founder and chief executive officer of MUSA Auto Finance (purchased by Powerband) and Mortgages USA. He is best known in the industry as being the first national lease partner to Tesla, where he and his team successfully developed first-of-its-kind, consumer-facing technology for new and used Tesla leases. His business models and technology development ultimately led to partnerships with leading investment banks, private equity firms, credit unions and automotive industry participants.

About Mr. Lee

Mr. Lee brings an extensive background of over 25 years in the areas of asset-backed financing and capital markets. Mr. Lee is the founder and principal of Newbridge Financial Group established since 1997. As the founder of the company, he is instrumental as a leader and visionary for the success of Newbridge Capital and award-winning Newbridge Mortgage in Canada. He has to date originated and underwritten over $3-billion of asset-backed credit facilities, working with many bank partners in Canada. His vast professional experience in financial underwriting and operations, together with his well-respected reputation in the financial industry, will be an asset to Powerband Solutions.

Offering of common shares

The company has arranged a non-brokered private placement of 133,333,333 common shares of the company at a price of 1.5 cents per common share for gross proceeds of up to $2-million.

The net proceeds of the offering finance growth initiatives and for general corporate and working capital purposes, including supporting lease origination.

Closing of the offering is subject to customary closing conditions, including acceptance of the TSX Venture Exchange. The common shares issued pursuant to the offering will be subject to applicable statutory hold periods.

About Powerband Solutions Inc.

Powerband Solutions, listed on the TSX Venture Exchange, OTC Pink and Frankfurt Stock Exchange, is a fintech (financial technology) provider disrupting the automotive industry. Powerband's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers and financers. Powerband's transaction platform -- trademarked under Drivrz -- is being made available across the United States.

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