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: âThis 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.
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