DSG Global (OTCQB: DSGT), a leader in global GPS, the rapidly emerging electric vehicle market and new electric golf carts, today announced that it has retained ICON Capital Group to be the financial advisor and broker-dealer on a potential spinout of its wholly owned subsidiary Imperium Motor Corp. According to the update, potential structures can include an IPO, a merger with an existing NASDAQ company, or a SPAC merger. “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 U.S., 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,” said Bob Silzer, CEO of DSG Global. “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 EVs 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.”
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About DSG Global Inc.
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.
NOTE TO INVESTORS: The latest news and updates relating to DSGT are available in the company’s newsroom at https://ibn.fm/DSGT
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