Penang, Malaysia--(Newsfile Corp. - May 17, 2021) - Duesenberg Technologies Inc. (OTCQB: DUSYF) (the "Company" or "Duesenberg"), an OTCQB-listed issuer, is pleased to announce that the Company will form a strategic committee to review and develop a capital markets strategy focused on Canada and Europe. As part of the review, the strategic committee is expected to consider an application to list the Company's common shares on Canadian Securities Exchange (the "CSE").
This initiative is aimed to:
expand the Company's international shareholder base;
increase the visibility of the Company, its growth strategy and accomplishments;
increase liquidity of its common shares;
raise the Company's overall profile; and
ultimately enhance shareholder value.
"We are excited about the prospect of listing on the CSE. The initiative to apply for listing on the CSE is a major step in expanding our shareholder base in Canada and Europe," stated Joe Lim, the President/Executive Chairman of the Company.
The listing of the Company's Common Shares on the CSE remains subject to the review and approval of the initial listing application and the satisfaction of all applicable listing and regulatory requirements.
The above does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States. The securities have not been registered under the Act and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
About Duesenberg Technologies Inc.
Duesenberg Technologies Inc. was established out of the collective ambition of investors experienced in the online business and marketing. The Company's goal was to help entrepreneurs and businesses turn their own ideas and visions into successful companies. Duesenberg Technologies' goal is to be climate neutral across its full value chain, in line with the goals set by the Paris Agreement. The Company is committed to energy resiliency through Development in Energy Transition Goal. This strategy identifies an immediate and urgent need to reduce greenhouse gas emissions to help mitigate the effects of climate change, reduce energy use, and improve air quality. The Company is posed to play a vital role in supporting all three of these objectives by reducing the environmental impact through manufacturing a new type of luxury electric vehicles.
On behalf of the Board of Directors,
Lim, Hun Beng (Joe), President
Duesenberg Technologies Inc.
Forward-Looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to our ability to execute prospective business plans; our ability to successfully obtain approval of a listing application on the Canadian Securities Exchange; the ability to properly execute on capital markets initiatives; inexperience in developing and mass-producing electric vehicles; actions by government authorities, including changes in government regulation; changes in the electric vehicle market; dependency on certain key personnel and any inability to retain and attract qualified personnel; developments in alternative technologies or improvements in the internal combustion engine; disruption of supply or shortage of raw materials; failure of our conceptual vehicles to perform as expected; failure to manage future growth effectively; future decisions by management in response to changing conditions; inability to design, develop, market and sell electric vehicles and services that address additional market opportunities; inability to keep up with advances in electric vehicle technology; inability to reduce and adequately control operating costs; inability to succeed in maintaining and strengthening the Duesenberg brand; labor and employment risks; misjudgments in the course of preparing forward-looking statements; our ability to raise sufficient funds to carry out our proposed business plan; the unavailability, reduction or elimination of government and economic incentives; uncertainties associated with legal proceedings; general economic conditions, because they may affect our ability to raise money; our ability to raise enough money to continue our operations; changes in regulatory requirements that adversely affect our business; and other uncertainties, all of which are difficult to predict and many of which are beyond our control. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings, which are available at www.sec.gov. We seek safe harbour.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84150