SURREY, British Columbia, Aug. 25, 2022 (GLOBE NEWSWIRE) — DSG Global, Inc. (OTCQB: DSGT) (“DSGT” or the “Company”), a leader in the global GPS, rapidly emerging electric vehicle market and new electric golf carts and is pleased to announce that the company has retained ICON Capital Group to be the financial advisor and broker on a potential divestiture of our wholly owned subsidiary Imperium Motor Corp. Potential structures may include an IPO, a merger with an existing NASDAQ company, or a SPAC merger.
It is expected that DSG will remain a minority shareholder in the new entity and, in addition, the Company intends to distribute to current registered shareholders (at a record date to be determined) a portion of the shares of the new entity and current annual dividends. . In doing so, the new entity will have a unique and deep shareholder base, unlike many new listings traded on national stock exchanges. Imperium’s leadership will remain in place and an initiative to recruit a North American automotive executive to lead the public entity is underway.
“We are delighted to have chosen Icon Capital Group as financial advisor to facilitate the transaction and guide the company on the best path to unlock shareholder value. We believe that our story has not been properly digested in the market, undervalued and we realize that our electric vehicle business needs to be appropriately adapted as a standalone business, thus benefiting from the publicity it deserved. In addition, DSG’s Imperium Motor Company has incurred substantial additional expenses for DSG Global which will no longer be accounted for and will allow full reimbursement of all expenses. With the recent legislative tailwind for electric vehicles due to the Cut Inflation Act just passed in the United States, we believe this is the right time to make a concerted effort to ensure the value for our shareholders and allow DSG management to focus on our core GPS and golf cart businesses, both of which are experiencing phenomenal growth. These favorable market conditions and our unique business model within Imperium really sets it apart and will be welcomed as a standalone entity. As the exclusive distributor for North America for high-quality electric vehicles, it takes considerably less capital than most electric vehicle companies in the public space, and the financial resources can be devoted to marketing and sales that generate immediate income. We intend to have vehicles homologated and ready for delivery in the coming months. said Bob Silzer, CEO of DSG Global Inc.
The electric vehicle industry is poised for substantial and sustained growth. Electric vehicles will account for around half of auto sales in major global markets by 2030, as sticker prices reach parity with gasoline-powered cars, according to a survey of auto industry executives.
Electric vehicles will represent 52% of the US, Japanese and Chinese markets and 49% of Western Europe, according to average estimates from the survey of more than 1,000 global automotive leaders published in November 2021 by the consultant KPMG . Significant adoption of less than 10% of the global market will now be driven by battery-powered models reaching a cost equal to vehicles powered by traditional internal combustion engines, executives predicted.
“We are excited to work with Bob and his team at DSG Global, Inc. to find the most effective way to position Imperium Motors in the electric vehicle space,” said John Calicchio, Chairman and CEO of ICON Capital Group. . “We believe there is a compelling story to be told that will allow Imperium to have an impact.”
ABOUT ICON CAPITAL BAND
ICON Capital Group (www.iconcapg.com) is a private company full service Investment banking firm specializing in raising capital for small cap companies in the private and public markets. Their main office is in Newport Beach, California.
About DSG Global
DSG Global is an emerging global technology company with an array of interconnected businesses in some of the fastest growing market sectors. With roots in the golf industry, where it specializes in fleet management with patented analytics, mobile touchscreen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the company is evolving quickly with road-ready electric vehicles for sale in the last quarter of 2022.
About Imperium Motor Company
IMPERIUM Motor Company (IMC) is the exclusive North American distributor of a wide variety of affordable electric vehicles with a focus on intuitive design, a green mindset, high performance, features, and affordability. Vehicles include high-speed, mid-speed, and low-speed electric vehicles, including cars, trucks, SUVs, vans, buses, and scooters.
IMPERIUM is currently a wholly owned subsidiary of DSG Global (DSGT), an OTCQB public company.
About Vantage Tag Systems
Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other locations that enable remote fleet management of golf carts, turf equipment and utility vehicles ground. Its customers use VTS’s unique technology to significantly reduce operating costs, improve the efficiency and profitability of their fleet operations, increase safety and improve customer satisfaction. VTS has become a leader in the fleet management category in the golf industry, with its technology installed in vehicles around the world. VTS is now branching out into several new revenue streams through programmatic advertising, licensing and distribution, as well as expanding into commercial fleet management, Marshal carts, single-driver golf carts and agricultural applications.
Additional information is available at http://vantage-tag.com/
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking information. These forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans regarding the future. Readers are cautioned that reliance on this information may not be appropriate for other purposes. Any such forward-looking information can be identified by words such as “planned”, “proposed”, “expects”, “intends”, “may”, “will” and similar expressions. Forward-looking information contained or referred to in this press release includes, but is not limited to, the company’s ability to secure manufacturing facilities and supply chains, the benefits the company expects to derive from the products existing and planned; and the company’s ability to achieve production and sales targets, generally.
Forward-looking statements or information are based on several factors and assumptions, which were used to develop these statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on any forward-looking statements as the Company cannot guarantee that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, negative cash flows and future financing requirements to support operations; dilution; limited trading and revenue history and no profit or dividend history; competition; economic changes; delays in the Company’s expansion plans; regulatory changes; and the impact and risks associated with the ongoing COVID-19 pandemic, including the risk of disruption at the Company’s facilities or in its supply and distribution channels. The forward-looking information contained in this press release reflects the Company’s current expectations, assumptions and/or beliefs based on information currently available to the Company.
DSG Investor Relations
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