SURREY, British Columbia, Feb. 23, 2022 (GLOBE NEWSWIRE) — DSG Global, Inc. (OTCQB:DSGT) (“DSGT” or the “Company”), the parent and owner of brands and licenses for a wide range of vehicles, from Imperium Motor Corp’s luxury electric SUV’s, trucks, buses, and e-bikes, to the world’s most advanced GPS-based golf cart fleet management system and state-of-the-art disruptive golf cart designs, is pleased to announce the signing of a Memorandum of Understanding (the “MOU”) toward the acquisition of Australian-based Urban Group Finance (“UGF”).
UGF is a specialty finance company operating in the golf cart equipment industry with direct links to the US and UK markets to fund the production of golf cart GPS equipment, including longstanding contractual agreements with US-based cart manufacturer, Club Car, and UK-based GPS fleet management systems company, GPSI.
The expiration of the Club Car and GPSI contracts with UGF opens the door for funding to drive the expansion of DSG’s tag fleet management business. UGF is also the sole distributor of Ford and Shelby officially licensed Golf Cart distribution in Australia and New Zealand.
Robert Silzer, CEO of DSG Global, stated, “This acquisition will accomplish a number of significant steps for DSG: it will complete our global distribution rights for Shelby golf carts, it will add the Ford brand to DSG’s product portfolio, and it will provide funding to expand local sales and installation of our GPS fleet managements systems.”
Silzer added, “DSG Global is also in advanced parallel negotiations with distributors for Ford, Shelby, and DSG Fleet management systems throughout Australia, New Zealand, and several Pacific nations including Samoa, Fiji, and Tonga, and we look forward to disclosing further details in upcoming announcements as contracts are executed.”
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 2021 through its Imperium Motor Company subsidiary.
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 single rider golf cart, 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.
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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.
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