DGSE Companies, Inc. (NYSE MKT: DGSE) (“DGSE” or “the Company”), a
leading wholesaler and retailer
of jewelry,
diamonds,
fine
watches, and precious metal bullion
and rare
coin products, today announced that Matthew M. Peakes has been
appointed to the positions of Chairman of the Board, President and Chief
Executive Officer of DGSE Companies, Inc., effective September 16, 2015.
Mr. Peakes will replace James D. "Dusty" Clem, who previously announced
his resignation as Chairman of the Board, President and Chief Executive
Officer, effective September 15, 2015.
Mr. Peakes will step down from his current position as Director of
Business Development for Elemetal, LLC (“Elemetal”), to assume these
roles at DGSE. Mr. Peakes brings significant business development and
precious metals experience with him from his time at Elemetal, which is
the Company’s largest shareholder and one of the largest global precious
metals companies. Mr. Peakes was also a Vice President with J.P. Morgan
where he managed relationships with high net worth investors, and helped
to develop investment strategies across a wide range of platforms. Mr.
Peakes has a Bachelor of Business Administration and a Masters of
Business Administration, both from Southern Methodist University.
“On behalf of the Board of Directors, I’d like to welcome Matt Peakes to
DGSE. We are very excited to embark on a new stage in DGSE’s history,
under Matt’s leadership,” stated C. Brett Burford, Chief Financial
Officer and Director, of DGSE. “Matt was a key member of Elemetal’s
management team, and led many of their critical projects. Matt brings a
wealth of experience, energy and enthusiasm to DGSE, and we believe he
will be an ideal leader to help transform DGSE into a consistently
profitable business for our shareholders.”
The Company also announced that David S. Rector has resigned from the
Board of Directors, effective September 4, 2015. Mr. Rector has left the
Board due to personal reasons, and has no disagreements or disputes with
the Company or its management. The Company is currently engaged in a
search to fill three independent director seats, and expects to announce
new board appointments in the coming weeks.
About DGSE Companies
DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine
watches, and precious metal bullion and rare coin products through its
Charleston Gold & Diamond Exchange, Chicago Gold & Diamond Exchange
(formerly Bullion Express), and Dallas Gold & Silver Exchange
operations. DGSE also owns Fairchild International, Inc., one of the
largest vintage watch wholesalers in the country. In addition to its
retail facilities in Illinois, South Carolina, and Texas, the Company
operates websites which can be accessed at www.dgse.com
and www.cgdeinc.com.
Real-time price quotations and real-time order execution in precious
metals are provided on another DGSE website at www.USBullionExchange.com.
Wholesale customers can access the full vintage watch inventory through
the restricted site at www.FairchildWatches.com.
The Company is headquartered in Dallas, Texas and its common stock
trades on the NYSE MKT exchange under the symbol "DGSE."
This press release includes statements which may constitute
"forward-looking" statements, usually containing the words "believe,"
"estimate," "project," "expect" or similar expressions. 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, continued acceptance of the Company's products and
services in the marketplace, competitive factors, dependence upon
third-party vendors, and other risks detailed in the Company's periodic
report filings with the Securities and Exchange Commission. By making
these forward-looking statements, the Company undertakes no obligation
to update these statements for revisions or changes after the date of
this release.
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