Heritage Global Launches Energy and Construction Asset Advisory and Auction Services Division

Heritage Global Energy and Construction Provides Asset Monetization
Solutions for Oil and Gas, Mining, Drilling, Solar, Rental Equipment and
Construction Sectors

Leading Global Sales Executive and Auction Industry Veteran Daniel
Beck Appointed Managing Director of the New Division

AUSTIN, Texas & SAN DIEGO–(BUSINESS WIRE)–Heritage
Global Inc. (OTCQB: HGBL, CSE: HGP) (“Heritage Global,” “HGI” or the
“Company”), a value-driven, innovative leader in corporate and financial
asset liquidation transactions, valuations and advisory services, today
announced the launch of its newly formed division Heritage Global
Energy and Construction (“HGEC”). Headquartered in Austin, Texas,
HGEC provides asset advisory, auction services and monetization
solutions for businesses operating in the oil and gas, mining, drilling,
solar, construction and rental equipment sectors. The new HGEC division
complements and expands Heritage Global’s existing asset valuation,
advisory, and auction capabilities by adding new service offerings to
more effectively market and sell energy and construction clients’ assets
across all equipment categories.

In conjunction with the launch, leading sales executive and auction
industry veteran Daniel Beck has been appointed Managing Director of Heritage
Global Energy and Construction. In this role, Daniel will be
responsible for overseeing HGEC’s operations, including managing
customer relationships, serving existing accounts, developing new
business, implementing innovative sales strategies and building
high-performing sales teams that deliver results-driven asset
monetization solutions to clients. Daniel has over two decades of
experience in asset management and sales, with an established record of
success developing effective asset monetization strategies on behalf of
energy and construction companies as well as other asset intensive
businesses.

Ross
Dove, Chief Executive Officer of Heritage
Global Inc. stated, “Heritage Global remains committed to further
expanding our platform of diversified global asset solutions to create
new value for our corporate clients, customers, partners and
shareholders. Throughout the Company’s history, HGI has deliver
best-in-class asset monetization, advisory and auction services to some
of the world’s largest energy companies and asset intensive
corporations— ranging from acquisitions and dispositions, to complete,
multi-phase programs. The formation of Heritage Global Energy and
Construction is the next logical step in our plan to strategically
expand our product portfolio with new complementary capabilities that
serve a broad range of businesses, while growing our leadership across
key sectors.”

Kirk
Dove, Chief Operating Officer of Heritage
Global Inc. added, “Dan is a well-respected leader who has extensive
executive experience developing asset monetization solutions that
delivered strong results for oil and gas companies, energy corporations
and other businesses with asset intensive operations. Throughout his
career, Dan has built a solid reputation as a trusted business partner
who is committed to the growth and financial success of clients. The
executive team looks forward to working with Dan in his new leadership
role and we are confident that his results-oriented and entrepreneurial
approach to the business will establish Heritage Global Energy and
Construction as a leader in asset advisory and auction services for
the sector.”

Commenting on his appointment, Daniel Beck stated, “The
Doves have been innovative pioneers in the industrial auction
business for over eight decades and are well-known and highly respected
throughout our industry for their worldwide asset advisory expertise
across a diverse range of sectors. Heritage
Global’s impressive growth, combined with its strong commitment to
delivering innovative global asset solutions and exceptional client
service, were strong factors in my decision to join the Company. In this
leadership role, I will leverage my executive sales experience and deep
professional relationships built over my career to grow the operations
of Heritage Global Energy and Construction. I look forward to
working with Ross, Kirk and the exceptional teams at Heritage Global to
expand the capabilities of our subsidiary businesses.”

Prior to joining HGEC, Mr. Beck most recently served as VP of Global
Sales at Network International where he managed teams responsible for
overseeing client accounts representing over $100 million in annual
sales. Before that, Mr. Beck served as VP, General Manager and Director
of Sales for Ritchie Bros Auctioneers. During his tenure, he developed
and implemented a go-to-market strategy for the energy division that led
to compound annual growth in segment sales of 373% over a four year
period, to $50 million. In addition, Mr. Beck was a key member of
Ritchie’s executive leadership team responsible for facilitating the
value-building acquisition of AssetNation in 2013. Earlier in his
career, Mr. Beck served in sales and business development roles for
several successful start-up technology and consulting businesses.

Daniel Beck, Managing Director of Heritage Global Energy and
Construction, may be reached at 206-660-1853 or via e-mail at [email protected].

About Heritage Global Inc. (www.heritageglobalinc.com)

Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) is a value-driven,
innovative leader in corporate and financial asset liquidation
transactions, valuations and advisory services. Heritage Global focuses
on identifying, valuing, acquiring and monetizing underlying tangible
and intangible assets in twenty-eight global manufacturing and
technology sectors. Heritage Global acts as an adviser, as well as a
principal, acquiring or brokering turnkey manufacturing facilities,
surplus industrial machinery and equipment, industrial inventories,
accounts receivable portfolios, intellectual property, and entire
business enterprises.

Forward-Looking Statements

This communication includes forward-looking statements based on our
current expectations and projections about future events. For these
statements, the Company claims the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. The forward-looking statements contained
in this communication are based on knowledge of the environment in which
the Company currently operates and are subject to change based on
various important factors, including variability in magnitude and timing
of asset liquidation transactions, the impact of changes in the U.S.
national and global economies, interest rate and foreign exchange rate
sensitivity, as well as other factors beyond the Company's control.
Unless required by law, we undertake no obligation to update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise. In light of these risks, uncertainties and
assumptions, you should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. For more details on factors that could affect these
expectations, please see our filings with the Securities and Exchange
Commission.

Contacts

Heritage Global Inc.
Scott West
Chief Financial Officer
858/847-0656
or
JCIR
Jennifer
Neuman, Norberto Aja, Joseph Jaffoni
[email protected]
or 212/835-8500