TORONTO, July 1, 2026 /CNW/ – PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) (FSE: 103) (“PowerBank” or the “Company”), a leader in independent energy development and asset ownership in North America, today announced that it has closed its previously announced registered direct offering of 7,000,000 common shares of the Company with two new long term institutional investors (the “Offering“). U.S.$4.2 million was funded upon the closing of the Offering, before deducting placement agent fees and other estimated Offering expenses.

The Company intends to use the net proceeds from the Offering for delivery of its independent power producer (“IPP“) project portfolio,…