Press Release to File an Early Warning Report Pursuant to National Instrument 62-103

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VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) — On October 02, 2024, JPK Capital Holdings (Barbados) Inc., of Burnham Court, Bishop’s Court Hill, Upper Collymore Rock, St. Michael, Barbados BB11115

(“JPK”), announces that it has acquired 25,000,000 common shares of PowerBand Solutions Inc. (“The PowerBand”) in a private placement in which an aggregate of 217,410,000 common shares were issued by PowerBand from the treasury at a price of $0.05 per share.

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Prior to the completion of the private placement, JPK and its joint venturer, the Insurance Corporation of Barbados Ltd. ( “ICBL”), held a total of 31,873,001 common shares and warrants to acquire 31,573,001 common shares of PowerBand, representing 7.09% of the issued and outstanding common shares on a gross basis, and 13.18% of the outstanding common shares, assuming all warrants are held by JPK and ICBL but no other warranties left. Both JPK and ICBL are controlled companies Joe Poulin.

Following the completion of the private placement, JPK and ICBL jointly hold 56,873,001 ordinary shares and warrants to acquire 31,573,001 ordinary shares of PowerBand, representing 8.53% of the Company’s issued ordinary shares on a non-consolidated basis, and 6% of the 12 . ordinary shares outstanding, considering the exercise of all warrants held by JPK and ICBL but no other outstanding warrants.

JPK acquired the shares pursuant to a subscription agreement with PowerBand for an aggregate subscription price of $1,250,000.

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Shares acquired by JPK for investment purposes. JPK and/or ICBL, depending on market and other circumstances, may increase or decrease its beneficial ownership, control or direction over additional PowerBand securities, through the use of markets, private deals, treasury issuances, use of convertible securities or otherwise.

This press release is issued pursuant to the early warning requirements of National Instrument 62-103 of Canadian Securities Administrators and which requires a report to be filed with the regulatory authorities in each relevant jurisdiction containing additional information regarding the above matters ( “Early Warning Report“). A copy of the Early Warning report will appear with PowerBand’s documentation under its profile on SEDAR+ at www.sedarplus.ca.

For more information, please contact:

Mark J. Coleman, Vice President, +1 (646) 873-0600, Mark@jpkcapital.com

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