Envela Retail Division Expands Executive Team with Key New Hire

DALLAS, TX / ACCESSWIRE / April 19, 2022 / DGSE, LLC ("DGSE"), a subsidiary of Envela Corporation (NYSE American:ELA) ("Envela" or the "Company"), today announced that Thomas Mathias, an executive with over 25 years of retail real-estate experience, has joined DGSE's leadership team.

"Thomas is a rare find. His expertise, leadership, and innovative thinking are a perfect fit for taking our organization to the next level. He has a proven track record of effectively leading corporate real estate activities for a national retailer," said Allison DeStefano, President of DGSE.

Prior to joining DGSE, Mr. Mathias spent over twelve years at Cottonwood Financial Ltd. as Managing Director of Real Estate, overseeing all aspects of over 350 locations, including site selection, acquisition, architectural and construction management, lease administration, store operations, and purchasing. Mr. Mathias holds a Bachelor of Business Administration degree with a major in real estate finance from the University of North Texas.

"I couldn't be more excited to join DGSE's team as they grow their presence in the sustainability marketplace, giving new life to preowned luxury goods," said Mathias." DGSE brings a unique, personal experience to its valued customers as they buy, sell, and trade in these goods, and I can't wait to join that effort," added Mathias.

About DGSE

DGSE focuses on sustainable, authenticated re-commerce of luxury brands and diamonds. Its retail strategy is anchored in being an information resource for clients, bringing transparency to purchase and sale transactions, and offering value and liquidity to those seeking to buy, sell or trade jewelry, watches, diamonds, or coins. DGSE strives to deliver an unrivaled customer experience. It features a broad selection of high-quality vintage and new jewelry, precious-metal bullion, rare coins, fine timepieces, and diamonds, together with value pricing and a customer-friendly sales process.

DGSE wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare-coin products through its Charleston Gold & Diamond Exchange and Dallas Gold & Silver Exchange operations. DGSE has specialized in buying and selling jewelry for over 40 years, making our expert staff among the best in the business.

About Envela

Envela is the North American re-commerce leader, enabling a better world via the circular economy. It empowers buyers and sellers to extend the useful life of specialty and durable goods, and to seize retail, recycling, and reverse-logistics supply-chain opportunities. This financially benefits consumers and manufacturers alike. Envela operates primarily via two re-commerce business segments, DGSE and ECHG. DGSE (Envela's B2C portfolio) operates retail stores and online sites offering luxury hard assets and precious metals, including gold, silver, and diamonds. ECHG (Envela's B2B portfolio) re-commercializes consumer electronics and IT equipment, and also provides end-of-life recycling services for products in a variety of industries. Envela conducts its re-commerce operations at retail and wholesale levels, through distributors, resellers, dedicated stores, and online. Holdings in all of Envela's business units have recognized multiple years of growth.

Additional information about Envela is available at its investor-relations site, Envela.com.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, including statements regarding acquisitions, expansion, and the potential future success of business lines and strategies. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.

Investor Relations Contact:

Investor Relations
1901 Gateway Drive | Irving, TX 75038
investorrelations@envela.com

SOURCE: Envela Corporation