- DSG Global Actively Pursuing Spinoff/Partial Buyout of Imperium Motors
Surrey, British Columbia, Canada, Oct. 05, 2020 (GLOBE NEWSWIRE) -- DSG Global Inc. (OTCQB: DSGT) (“DSGT”), and subsidiary automobile division Imperium Motor Corp., announced that today a strategic partnership with Skywell New Energy Automobile Group Co., Ltd. (Skywell) to exclusively market their electric vehicles to the North American Region. The first vehicle to be introduced will be the new ET5 SUV, announced on September 24, 2020 by DSG Global.
Skywell New Energy Automobile Group Co. Ltd. was founded in 2011. With the manufacturing and sales of large, medium and light buses, passenger cars and related components and parts as the main body, it has gradually become the leading enterprise of China’s new energy automobile industry.
Skywell owns Nanjing Jinlong Bus Manufacturing Co., Ltd., Wuhan Skywell New Energy Automobile Co., Ltd., Shenzhen Skywell Automobile Co., Ltd, Nanjing Sky Source World Power Technology Co., Ltd and Qingdao Skywell New Energy Automobile Group Co. Ltd. The products cover 3.6-18 m series of new energy EV Buses, passenger cars and passenger vehicles, which are widely sold in many countries and regions in Southeast Asia and widely used in public transport, tourism, commuting, and leasing and other markets.
The award winning and asset rich company is one of the companies which entered the new energy bus industry in the earliest stage. With more innovative technologies and more high-quality products Skywell has achieved excellent results. Since 2014, the company has ranked as an industry leader for sales of new electric vehicles.
In addition, the company is has been actively pursuing a spinoff/partial sale of its subsidiary Imperium Motor Company to other publicly traded companies and SPAC’s. Investors will be notified upon closure of a deal. The company will hold a conference call later this month to discuss details of this process and update shareholders on sales of Electric Vehicles, Golf Carts and Golf Course Installations. Details for the call will be provided in a later release. Bob Silzer and Rick Curtis, the company’s Chief Executive Officer Imperium Motors President, respectively, will lead the session and provide a shareholder update on the transaction and the company’s strategic growth plans as well as additional targeted strategic partnerships.
“This second joint venture electric vehicle agreement with an established leader in the Electric Vehicle industry gives us more diversity of product. Skywell is already a leader in the electric bus market and we are working on some opportunities with them on these products as well. We hope to continue to align with some of the biggest and best companies in this industry,” said Rick Curtis, President of Imperium Motors
“With Rick’s leadership we are continuing to get noticed by large industry players. By potentially spinning off the Electric Vehicle component, while still maintaining all or majority ownership, we feel that DSG Global Shareholders will strongly benefit from the strong growth of Imperium, significant cash inflow to our company and also from the expansion of our golf business. We anticipate closely a deal during the fourth quarter and will keep shareholders apprised as events are finalized,” stated Bob Silzer, President and CEO DSG Global.
About Imperium Motor Company
Imperium Motor Company is a new EV brand that offers a wide variety of affordable vehicles equipped for the North American market with emphasis on great design, a green mindset, performance, and functionality. Vehicles will include: High Speed, Mid Speed, and Low Speed electric vehicles including Cars, Trucks, SUVs, Vans, Buses, and Scooters.
About VANTAGE TAG SYSTEMS INC (VTS)
Vantage Tag Systems provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS's 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 over 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, PACER single rider golf carts, and Agricultural applications. Additional information is available at http://vantage-tag.com/
Safe Harbor for Forward-Looking Statements
Forward-looking statements in this press release include statements relating to, among other things, the Company's ability to open its new customer facility and its ability to close and deliver on various purchase orders from customers, and the Company's expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; our ability to deliver in a timely fashion and to our customers’ satisfaction the products purchased; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in existing and new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year 2018 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
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