SURREY, British Columbia, Aug. 25, 2022 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company"), a leader in global GPS, rapidly emerging Electric Vehicle market and new electric golf carts and is pleased to announce the company has retained ICON Capital Group to be the financial advisor and broker-dealer on a potential spinout of our wholly owned subsidiary Imperium Motor Corp. Potential structures can include an IPO, a merger with an existing NASDAQ company, or a SPAC merger.
The expectation is that DSG will remain a minority shareholder in the new entity and in addition, the Company intends to dividend out to the current shareholders of record (on a TBD record date) a portion of the shares in the new entity and ongoing annual dividends. By doing so, the new entity will have a unique, deep shareholder base, unlike many new listings trading on national exchanges. Management of Imperium will stay in place and a recruiting initiative for a North American automotive executive to head the public entity is underway.
“We are pleased to secure Icon Capital Group as our financial advisors to facilitate the transaction and guide the company to the best path to unlock shareholder value. We believe our story has not been properly digested in the marketplace, undervalued, and realizing our EV business needs to be appropriately scaled as a stand-alone company therefore enjoying the publicity it deserves. Also, DSG’s Imperium Motor Company had substantial additional expenses incurred by DSG Global that will be off the books and capturing full repayment of all expenses. With the recent legislative tail wind for EVs because of the Inflation Reduction Act just passed in the US, we feel like this is the proper time to make a concerted effort to ensure value for our shareholders and allow DSG management to focus on our core GPS and Golf Cart business, both of which are experiencing tremendous growth. These favorable market conditions and our unique business model inside of Imperium is truly differentiating and will be well received as a stand-alone entity. As an exclusive distributor for North America for high quality EV’s requires considerably less capital than most EV companies in the public space, and financial resources can be dedicated to marketing and sales that drive immediate revenue. We intend to have vehicles through homologation and ready for delivery in the coming months.” said Bob Silzer, CEO DSG Global Inc.
The EV industry is poised for substantial and sustained growth. Electric vehicles will account for about half of auto sales in the world’s major markets by 2030 as sticker prices reach parity with gasoline-fueled cars, according to a survey of automotive executives.
EVs will make up 52% of the U.S., Japanese and Chinese markets and 49% of Western Europe, according to average estimates in the survey of more than 1,000 global automotive leaders released in November 2021 by consultant KPMG. The significant uptake from less than 10% of the global market now will be driven by battery-powered models achieving a cost equal to vehicles propelled by traditional internal combustion engines, the executives predicted.
“We are excited to be working with Bob and his team at DSG Global, Inc. to find the most effective way to position Imperium Motors in the EV space” said ICON Capital Group President/CEO John Calicchio. “We feel that there is a compelling story to tell that will allow Imperium to make an impact”.
ABOUT ICON CAPITAL GROUP
ICON Capital Group (www.iconcapg.com) is a privately-owned full-service Investment Banking firm with an emphasis on raising capital for small cap companies in both the private and public markets. Their main office is in Newport Beach, CA.
About DSG Global
DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest-growing market sectors. With roots in the golf industry, in which it specializes in fleet management with patented analytics, mobile touch screen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the Company is moving 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 emphasis on intuitive design, a green mindset, high performance, functionality, and affordability. Vehicles include high-speed, mid-speed, and low-speed EV’s including cars, trucks, SUVs, vans, buses, and scooters.
IMPERIUM is currently a wholly owned subsidiary of DSG Global (DSGT) a 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 venues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS' unique technology to significantly reduce operational costs, improve the efficiency plus profitability of their fleet operations, increase safety and enhance customer satisfaction. VTS has grown to become a leader in the category of fleet management in the golf industry, with their technology installed in vehicles worldwide. VTS is now branching into several new streams of revenue through programmatic advertising, licensing, and distribution, as well as expanding into commercial fleet management, Marshal carts, single rider golf carts, and agricultural applications.
Additional information is available at http://vantage-tag.com/
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipated," "proposed," "expects," "intends," "may," "will" and similar expressions. Forward-looking information contained or referred to in this news 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 existing and planned products, 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 have been used to develop such 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 forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors which could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to negative cash flow and future financing requirements to sustain operations; dilution; limited history of operations and revenues and no history of earnings or dividends; competition; economic changes; delays in the Company's expansion plans; regulatory changes; and the impact of 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 in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
Company Contact:
DSG Investor Relations
1.604 575 3848 #2
