On January 17 and January 18, 2017, the Board of Directors of DGSE Companies, Inc. (DGSE) elected new independent board members Jim Ruth, Alexandra Griffin and Joel Friedman as members of the Board of Directors of DGSE following the resignations of independent directors J. Marcus Scrudder, Michael J. Noel and Douglas J. Lattner from the Board of Directors. Mr. Scrudder, Mr. Noel, and Mr. Lattner each notified DGSE by respective letters dated January 12, 2017, of their intent to resign from the Board. Mr. Ruth, is currently the President and Chief Executive Officer of OppMetrix.

Ms. Griffin is a CPA skilled in financial analysis and financial statement reporting in accordance with GAAP. She will be Chairman of the Audit Committee and will be a member of the Compensation Committee and the Compliance, Governance and Nominating Committee. Mr. Friedman has his undergraduate degree from the University of North Texas and holds a Masters of Business Administration from the SMU Cox School of Business.

Mr. Friedman is the Lead Independent Director, Chairman of the Compensation Committee, and a Member of the Audit Committee and the Compliance, Governance and Nominating Committee. On January 17, 2017, the Board of Directors elected Bret Pedersen to the position of Chief Financial Officer following the resignation of Acting Chief Financial Officer Steve R. Patterson. Mr. Patterson notified DGSE, by letter dated January 13, 2017, of his intent to resign as Acting Chief Financial Officer effective January 14, 2017.

Mr. Pedersen was the Financial Controller, from 2014 to 2016, for Payson Petroleum, Inc. which is the parent company of Payson Operating, LLC. Prior to Payson Petroleum, Mr. Pedersen was the Financial Controller, from 2009 to 2014, for Iron Creek Ventures, Inc.