SURREY, British Columbia, Jan. 14, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") and its subsidiary Imperium Motor Company (“Imperium”) are pleased to give a corporate update and announce significant milestones.
Today the company will begin accepting pre-orders for the highly anticipated Skywell ET5 SUV, an electric vehicle exclusively marketed in North America by Imperium. The vehicle will initially be available in two levels, the LV2 High Level Package with an estimated 323 miles per charge and the LV0 Deluxe Level package with an estimated 251 miles per charge, using the NEDC (New European Driving Cycle) standard. Base MSRP pricing has been determined to be USD$39,940 for the ET5 LV2 and USD$29,990 for the LV0 model, both equipped especially for the US and North American markets. These prices are before the Federal Tax Credit program available for electric vehicles of USD$7,500 and any State or local incentives that may also be available in some markets. "These vehicles are very well equipped, have great range and are extremely well designed for the North American and world markets." said Rick Curtis, President of Imperium Motor Company. He further stated, "Once the vehicle has achieved NHTSA certification and FMVSS compliance it will become available to the market."
To pre-order and for more information, please visit https://www.imperiummotorcompany.com/reserve-your-et5/. Within a few weeks, those on the pre-order list will be required to make a deposit of USD $100, which is fully-refundable and limited to the first 100,000 orders to hold their position.
Rumble Motors’ Rover electric bikes have been praised by users from all over the world and are currently being featured on HBO's hit show "Westworld". We are readying for the launch and delivery of these vehicles.
DSGT recently raised $1.5 million as orders continue to accelerate for electric vehicles and the Company pushes to bring its SUV, truck, buses, automobiles, and E-Bikes to market. Under the terms of the agreement, signed on December 23, 2020, GHS purchased 1,500 Series F Preferred shares, capable of being exchanged into 1,500,000 common shares in six months. GHS was also issued underlying warrants which could bring the potential value of the funding up to $3.0 Million. The company has the option to buy back any outstanding shares of the Series F Preferred for six months from the date of issuance.
"This is an especially important milestone for DSG Global. Not only was the deal finalized at a significant premium to market at the time of closing, but the company also now can fulfill its goals of hosting a virtual "Grand Opening" at the Experience Center later this year for dealers and the public, and begin processing orders and delivering vehicles,” stated Bob Silzer, President and CEO of DSG Global, Inc. “The funding will also permit the company to increase inventory of many of its 20+ electric vehicle models. It will also allow the company to prepare for the launch of the SUV and other EVs. The investor-friendly terms will allow the company to grow rapidly during 2021 and hit its revenue and earnings targets. With many of our vehicles already being sold and many more coming to market in the next few months, we believe we are significantly ahead of most other EV companies at a time when the overall growth in the number of electric vehicles on the road is increasing by over 50% annually.”
The company understands the need to improve all facets of its consumer facing information as it quickly establishes itself as a leader in the North American EV marketplace. There will be a gradual rollout over the next few weeks of an improved and enhanced website and social media presence. This will be a work in progress that likely will not be fully completed for approximately thirty days, but visitors should immediately begin to see a more robust and effective presentation of Imperium’s products and operations.
The product roster is expanding and will include additional buses, high speed, and low speed EV's as well as an improved scooter and bike lineup.
With its partner, the company has applied for and awaits confirmation of a World Manufacturers Identifier (“WMI”), allowing the Company the ability to assemble and sell its electric vehicle products. Skywell can provide both CBU (or completely built units) and SKD (or semi-knockdown) models to be assembled in North America. Imperium can also perform "final assembly" locally. The company remains in negotiations with interested parties and expects municipal sales to rapidly escalate during the spring months. Final confirmation is anticipated shortly, and the company will communicate with shareholders once received.
"Each day we are making progress towards becoming a leader in the EV marketplace. We continue to receive additional vehicles and will have a full inventory of most of our current vehicles as we proceed through the year. We look forward to sharing our showroom, additional EV models and videos over the remainder of the month. We remain on track to meet or exceed our sales goals and expect to be delivering thousands of vehicles,” stated Rick Curtis.
About Imperium Motor Company
Imperium Motor Company is an EV sales 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 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.
Contacts:
| Chesapeake Group | ||
| +1-410-825-3930 | ||
| info@chesapeakegp.com |
