SURREY, British Columbia, Oct. 12, 2022 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) (“DSGT” or the “Company”), announces name change for the Imperium Electric Vehicle brand to Liteborne™ Motor Corporation as part of launching a separate and distinct company for the benefit of the marketing roadmap and shareholder value.
After consulting with industry experts, it was determined that both companies would be stronger with brands that are separate and distinct to their respective consumers, especially as we move toward a national exchange listing. This new structure should be an advantage to all DSG Global Inc. shareholders as they will receive ongoing dividends in DSG Global and shares in the new public company, Liteborne™ Motor Corporation.
“This is the first of many exciting developments to come at Liteborne™. Bright ideas are born at DSG Global, and our new name for Imperium reflects that ongoing conviction coupled with the idea that in our vehicles, people are carried (borne) on light (electricity) as part of a brighter future. This brand architecture will better communicate our values and mission, while moving toward homologation. Liteborne Motor Co.™ delivers best in class accessible luxury with a range of electric vehicles that includes the Aurium™ SEV (Sport Electric Vehicle) "the best value luxury electric car on the market". and a range of electric vehicles yet to come.” - said Bob Silzer – Acting CEO.
In addition to the new brand positioning, Liteborne™ has successfully attracted and secured commitments from a substantial management team and Board of Directors which will be announced November 1st, 2022.
“I am humbled by the substantial talent we have been able to attract. Said Bob Silzer – Acting CEO. “The new CEO and Board of Directors have impeccable credentials in the auto industry and homologation process. It is a considerable endorsement that Liteborne™ is a going concern and substantial opportunity for these individuals to put their reputations on the line. I look forward to making those announcements November 1st” - continued Silzer.
For further information contact:
Bob Silzer, Acting CEO for Liteborne Motor Corporation
E. Bob@dsgtglobal.com
P. 604-575-3848
About Liteborne Motor Corporation
Liteborne Motor Corporation is a new EV distribution 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 Cars, Trucks, SUVs, Vans, and Buses. This brand architecture will better communicate our values and mission purpose while moving toward homologation. Liteborne Motor Co.™ delivers best in class accessible luxury with a range of electric vehicles that includes the Aurium™ SEV (Sport Electric Vehicle) "the best value luxury electric car on the market". and a range of electric vehicles yet to come
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.
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, single rider golf carts, the new Lithium Vantage Golf Carts, 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 several 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 2021 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.
###
