DSG Global Announces MOU Toward Acquisition of Golf Equipment Specialty Finance Business

Rhea-AI Summary

DSG Global, Inc. (OTCQB:DSGT) announced on February 23, 2022, the signing of a Memorandum of Understanding (MOU) to acquire Urban Group Finance (UGF), an Australian specialty finance company in the golf cart equipment industry. This acquisition aims to enhance DSG's distribution rights for Shelby golf carts and add the Ford brand to its portfolio. UGF has established contracts with US and UK markets, which could drive funding for DSG’s GPS fleet management system expansion. CEO Robert Silzer highlighted the strategic importance of this acquisition for market growth.

Positive

• Acquisition of UGF expands DSG's distribution rights for Shelby golf carts and adds Ford brand.
• Established contracts with US and UK markets may enhance funding for DSG's expansion.
• Potential growth in GPS fleet management business through UGF's distribution channels.

Negative

• None.

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/

CAUTIONARY NOTE REGARDING 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 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.

Company Contact:
EDM Media, LLC
https://edm.media

Brokers and Analysts
Chesapeake group
+1-410-825-3930
Info@chesapeakegp.com

FAQ

What is the significance of DSG Global's acquisition of Urban Group Finance?

The acquisition aims to enhance DSG Global’s product offerings and expand distribution rights for Shelby golf carts and Ford-branded products, potentially increasing revenue streams.

When was the press release regarding DSG Global's acquisition of UGF issued?

The press release was issued on February 23, 2022.

How will the acquisition of UGF impact DSG Global's operations?

The acquisition is expected to drive expansion in DSG’s GPS fleet management business and improve local sales capabilities.

What are the expected benefits of the UGF acquisition for DSG Global shareholders?

Shareholders may benefit from enhanced brand recognition, increased market share, and potential revenue growth from expanded distribution channels.