PowerBand Solutions Inc. Welcomes New CEO Jeff A. Morgan and Announces $2 Million Financing

TORONTO, ON - PowerBand Solutions Inc., a notable player in the online vehicle trade and financing platform, has officially announced the appointment of Jeff A. Morgan as the new CEO. Morgan, the founder of MUSA Auto Finance, returns to lead PowerBand Solutions and join its Board of Directors. Alongside him, Steven Lee, a long-term investor and former director, returns to the board, aiming to fill two vacant positions.

Morgan expressed his excitement about his return and is eager to work with the PowerBand team, its customers, and investors. His background as a veteran in auto leasing and finance, including his role as National Lease Partner to Tesla, positions him as a valuable asset in driving PowerBand towards growth and success. Steven Lee, with his extensive experience in the financial sector, especially in asset-backed financing, is expected to contribute significantly to the company's strategy and operations.

In addition to the new appointments, PowerBand Solutions has also announced a non-brokered private placement of common shares aiming to raise CAD$2 million. The funds are targeted for growth initiatives and to support the company's general corporate needs, including lease origination efforts. This financing, pending customary closing conditions, underscores the company's ongoing efforts to bolster its financial standing and expand its market presence.