Envela Steps-In as Co-Sponsor for Disabled Veteran Racing at Charlotte Motor Speedway this Memorial Day Weekend

IRVING, TX / ACCESSWIRE / April 27, 2022 / Envela Corporation (NYSE American:ELA) ("Envela" or the "Company"), the North American leader in the "re-commerce" business, is pleased to announce veteran Keith McGee will be able to race this Memorial Day weekend. Envela will step in alongside Barstool Sports, as co-primary sponsor for Reaume Brothers Racing's No. 43 truck.

United States Military veteran Keith McGee was slated to run the No. 43 truck for Reaume Brothers Racing this Memorial Day Weekend at Charlotte Motor Speedway. McGee had secured a full slate of sponsorship but just a few days ago, one of primary sponsors backed out last minute putting his dream in jeopardy. McGee took to Twitter to find another sponsorship partner for the race on May 24^th, and that got the attention of Envela. As a strong supporter of veterans and the military, Envela offered to become co-primary sponsor to support Keith McGee, the first Disabled Veteran to race in NASCAR, this Memorial Day weekend.

"I'm so grateful for the continued support of all our corporate sponsors, but after a last-minute cancelation, I was facing the real possibility of not racing on Memorial Day Weekend. As a military veteran, I was beyond excited when Envela offered to co-sponsor me and the No. 43 truck this weekend," said Keith McGee, driver. "Representing veterans by in the number 43 truck this Memorial Day weekend is a dream come true, and I'm grateful for Envela's support and generosity".

About Keith McGee

Born in Truckee, California, Keith has a passion for racing climbing the motorsports ranks, now racing in the NASCAR Camping World Truck Series driving the No. 43 for Reaume Brothers Racing. Keith previously served in the United States Air Force for eight years and is a disabled veteran. In some races his number is displayed in pink to honor his mother, a breast cancer survivor. @keithmcgee907

About Reaume Brothers Racing:

Reaume Brothers Racing (RBR) began in 1997 when brothers, Jonathan, and Joshua, started racing in competitive kart racing. From the humblest of beginnings to the NASCAR Xfinity/Camping World Truck Series, Reaume brothers have been chasing the racing dream, competing in events all around the world. For the 2022 Camping World Truck Series season RBR will field the #33 and #43 trucks and is one of the most diverse team in all of NASCAR's three National touring series.

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 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