Ms. Kelly Jennings reports

POWERBAND ANNOUNCES $5.3 MILLION PRIVATE PLACEMENT FINANCING

Powerband Solutions Inc. intends to complete a non-brokered private placement financing for gross proceeds of up to $5.3-million.

The company intends to the use the net proceeds from the private placement to support its continual development, growth, market expansion and for general working capital purposes. Up to 18,275,862 units will be placed, at a price of 29 cents per unit, with the objective of raising up to $5.3-million. Each unit will consist of one common share and one common share purchase warrant of the company. Each warrant will entitle the holder to purchase one common share of the company at an exercise price of 49 cents for a period of 24 months from their date of issuance.

Cash finders' fees of up to 5 per cent of the gross proceeds raised in the private placement may be paid to arm's-length finders. As additional consideration, qualified registrants may be issued compensation warrants exercisable for that number of common shares of the company equal in number to 5 per cent of the number of units sold in the private placement. The finder warrants will be exercisable at a price of 49 cents per common share for a period of 24 months after their date of issuance.

All securities issued in connection with the private placement are subject to a four-month hold. The company has received conditional approval from the TSX Venture Exchange for the private placement, however closing of the private placement remains subject to final approval from the TSX-V.

The company will be seeking to close the private placement, in one or more tranches, over the next two weeks.

About Powerband Solutions Inc.

Powerband Solutions, 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, financers and manufacturers. It enables them to buy, sell, trade, finance and lease new and used, electric- and non-electric vehicles, on smart phones or any other on-line digital devices, from any location. Powerband's transaction platform -- being trademarked under DriverZ -- is being made available across North American and global markets.

We seek Safe Harbor.