DSG Global announces vehicle wholesale importer sales update towards achieving large-scale ...
AcquisitionofMTG, Inc.hasenhancedimmediatesales opportunitiesforDSGWholesale(DSGW)division
FAIRFIELD, Calif., Aug. 23, 2021 (GLOBE NEWSWIRE) -- Less than two months after DSG Global Inc.’s (OTCQB: DSGT) (“DSG” or the “Company”) electric vehicle division, Imperium Motor Company, announced it had entered a binding memorandum of understanding for the acquisition of Ontario, Canada-based MTG, Inc., a large scale North American vehicle wholesale operation, the company has already posted significant sales.
MTG is a well-established automotive import/export company in North America with over 25 years of experience and extensive commercial fleet and retail connections throughout the global automotive industry.
The new wholesale division of DSG is led by Michael Tersigni and Johnny Cooper, both preeminent automotive specialists. Cooper formerly built the same business model in the late ’90s, completing transactions for over 12,000 vehicles and up to $321 million in sales annually. His company was successfully sold to one of the largest auto auction groups in the world.
DSG’s strategy will increase cash flow with positive revenue and also enhance the Company’s EV business with the ability to offer a unique buying experience to Imperium clients. MTG’s experience in vehicle acquisitions is now more important than ever with the industry seeing some of the worst supply levels in over 60 years.
“We have all heard about the “chip” issue that is affecting most every vehicle manufacturer during the current Covid Pandemic; this is not just a supply issue on the new car side but also puts stress on the pre-owned supply of vehicles that dealers are depending on to compensate for lack of new vehicles available” Stated Bob Silzer, CEO of DSG Global. “The demand is currently stronger than any time in recent history for a good supply of new or late model vehicles.”
“MTG is already providing for their clients demands in new and late model vehicles” Stated Rick Curtis, CEO of Imperium Motor Corp. “They have, in a short amount of time, exceeded one million dollars in gross sales volume and will soon be selling in excess of two million dollars a month. We are very fortunate that our new vehicle manufacturing partners have an adequate supply of Chips and other necessary parts to continue production of new Electric Vehicles” continued Rick Curtis.
For DSG Global, this acquisition is a monumental achievement and could not have come at a better time with the current supply issues of new and pre-owned vehicles in North America.
“The strong demand from our dealer and auction partners for additional inventory has never been better” Stated Michael Tersigni from MTG “we are very fortunate that with our large base of vehicle suppliers we can generate massive sales numbers as the vehicles become available. My phone and email is nonstop with our partners looking for additional inventories”.
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 first quarter of 2021 through its Imperium Motor Company subsidiary.
About Imperium Motor Corp.
Imperium Motor Corp. (IMC) is an EV sales, manufacturer and marketing company 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. For additional information about Imperium Motors’ product lines, please visit www.imperiummotorcompany.com.
About Vantage Tag Systems
Vantage Tag Systems (VTS) 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’ 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, PACER single rider golf carts and agricultural applications. Additional information is available at http://vantage-tag.com/.
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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 a number of factors and assumptions, which have been used to develop such statements andinformation,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:successful completion of due diligence, satisfaction of conditions, and completion of the proposed transaction with MTG, INC.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.
Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are described 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 2020 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. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.