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New York, NY, December 08, 2021 (GLOBE NEWSWIRE) – Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII“or the”Society“), www.gtii-us.com, a Nevada company, today announced that it has submitted to the Securities and Exchange Commission (the” SEC “) a FORM S-1 registration statement which, if it is approved, would allow the Company to distribute up to 26,000,000 newly created and registered cryptocurrency tokens as a dividend to GTII shareholders.
Pending SEC approval, the company would create 1,000,000,000 cryptocurrency tokens (the “GFT token”) on the Solana blockchain using the Solana Simple Ledger Protocol (“SLP”) token specification. The GFT token will then be distributed in the form of a dividend to its shareholders at the rate of one (1) GFT token for ten (10) ordinary shares of GTII held beneficially on a registration date yet to be determined.
The GFT token, the value of which would be linked to the value of GTII’s art collection, will be distributed from GTII’s digital wallet directly to the digital wallets of eligible shareholders. The Company will keep any remaining undistributed GTII token in its digital wallet for future use.
gChairman and CEO of TII, David Reichman, said: “This project has been in development for several months, but unlike other projects that have demanded our attention as part of a rapid turnaround, this one required a different focus. , closer to the laser. Warning. I am proud of the courage and tenacity of our technical team, as well as the management and our other service providers who have brought this effort to this point. The learning curve has been very steep, to say the least, and the work done by the whole team is something I am very proud of. “
About Global Tech Industries Group, Inc .: GTII, a publicly traded company incorporated in the State of Nevada, specializing in the continued acquisition of new and innovative technologies.
Please follow our company at: www.otcmarkets.com/stock/GTII
Safe Harbor Forward-Looking Statements:
This press release may contain forward-looking statements based on current expectations, forecasts and assumptions that involve risks as well as uncertainties that could cause actual results to differ materially from those anticipated or expected, including statements relating to the amount and timing of expected income related to our financial performance, expected income, distributions and future growth for the upcoming quarterly and annual periods. These risks and uncertainties are further defined in the Company’s records and reports with the United States Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected or contemplated by forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other things, the Company may not be able to maintain its growth or achieve profitability due to many factors including, but not limited to, the risk that we may not be able to find and achieve ” acquire businesses and assets that will allow us to become profitable. Reference is hereby made to the cautions set forth in the latest documents filed by the Company with the SEC. We have made and will continue to make significant expenses during our development phase, noting that there can be no assurance that we will generate enough revenue to offset these costs in the short and long term. New lines of business may expose us to additional legal and regulatory costs and unknown exposures, the impact of which cannot be predicted at this time.
Words such as “estimate”, “project”, “predict”, “will”, “would”, “should”, “could”, “could”, “could”, “anticipate”, “plan”, “have” intention, “” believe “,” expect “,” aim “,” aim “,” target “,” objective “,” probable “or similar expressions which reflect the prospective nature of events or results generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless required by law, we assume no obligation to update, modify or withdraw forward-looking statements, due to new information, future events or otherwise.
Mike king
Princeton Research, Inc.
3887 Pacific Street, Las Vegas, Nevada
702.338.2700
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