DSG Global Announces Cease Trade Order (CTO) Lifted

Rhea-AI Summary

DSG Global, Inc. (OTCQB: DSGT) announces the revocation of the Cease Trade Order by the British Columbia Securities Commission (BCSC) on January 15, 2021, allowing its shares to resume trading. This follows the company's submission of required disclosures related to its electric vehicle division and the PACER line of golf carts. CEO Bob Silzer expressed enthusiasm about focusing on the business model with the CTO lifted, indicating progress in product refinement and supply chain management as they prepare for product launches in 2021.

Positive

• Cease Trade Order revoked, shares now trading again.
• Disclosure submission to BCSC included important details about electric vehicle division.
• CEO optimistic about product refinement and supply chain security.
• Focus on business model execution following CTO removal.

Negative

• None.

SURREY, British Columbia, Feb. 26, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") announces that the Cease Trade Order imposed by the British Columbia Securities Commission (BCSC) on January 15, 2021 has been revoked and its common shares have resumed trading in all markets.

The Cease Trade Order issued by the BCSC was lifted after the Company filed certain required disclosures, 8-K’s and exhibits, including, among other items, clarifying information and results related to our electrical vehicle division and our new PACER line of golf carts.

“We are thrilled to have resolved this matter,” commented Bob Silzer, CEO of DSG Global. “We are making great strides in refining our products and in securing our manufacturing and supply chains in order to capitalize on the mounting anticipation and appetite for our products in 2021. With the CTO now rescinded, we can focus our full efforts toward executing on our business model.”

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 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'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/

About Imperium Motor Company

Imperium Motor Company (IMC) 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.

Company Contact:

Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com

Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com

Safe Harbor for Forward-Looking Statements

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 and information, 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: 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 2019 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.

FAQ

What was the reason for the Cease Trade Order on DSG Global (DSGT)?

The Cease Trade Order was imposed by the BCSC due to undisclosed financial information and required disclosures.

When was the Cease Trade Order for DSG Global lifted?

The Cease Trade Order was lifted on February 26, 2021.

What are the plans for DSG Global's electric vehicle division after the CTO is lifted?

The company plans to focus on refining products and securing manufacturing and supply chains to capitalize on market demand.

How has DSG Global communicated its business developments?

They filed the necessary disclosures, including 8-K reports, to clarify information regarding their electric vehicle division.