Creatd Announces Termination of Discussions with GTII Regarding Proposed Acquisition

Rhea-AI Summary

Creatd, Inc. (OTCQB: CRTD) announced on February 24, 2023, its decision to halt proposed acquisition discussions with Global Tech Industries Group, Inc. (GTII). The company will adhere to the no-shop terms outlined in the signed Letter of Intent with GTII. This decision reflects a strategic shift as Creatd continues to focus on its mission of providing economic opportunities within the creator economy. The firm is dedicated to fostering a safe and viable ecosystem for its stakeholders.

Positive

• Creatd remains committed to its core mission of supporting creators and brands in the creator economy.
• The company will honor the no-shop terms, indicating a commitment to ethical business practices.

Negative

• The termination of acquisition discussions may signal challenges in Creatd's growth strategy.
• Lack of new partnerships could limit immediate revenue growth opportunities.

NEW YORK, Feb. 24, 2023 /PRNewswire/ -- Creatd, Inc. (OTCQB: CRTD; Upstream: CRTD) ("Creatd" or the "Company"),  a creator-first technology company, today announced that it has decided not to proceed with a proposed transaction with Global Tech Industries Group, Inc. ("GTII"). While Creatd has concluded discussions of a proposed acquisition, it will honor the no-shop terms outlined in the Letter of Intent signed with GTII.

About Creatd

Creatd, Inc. (OTCQB: CRTD) is a company with a mission to provide economic opportunities to creators and brands by multiplying the impact of platforms, people, and technology. Creatd's pillars work together to create a flywheel effect, supporting our core vision of creating a viable and safe ecosystem for all stakeholders in the creator economy.

Creatd: https://creatd.com;
Creatd IR: https://investors.creatd.com;
Vocal Platform: https://vocal.media;
Investor Relations Contact: ir@creatd.com

Forward-Looking Statements

Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.

View original content to download multimedia:https://www.prnewswire.com/news-releases/creatd-announces-termination-of-discussions-with-gtii-regarding-proposed-acquisition-301755603.html

SOURCE Creatd, Inc.

FAQ

Why did Creatd terminate discussions with GTII?

Creatd decided not to proceed with the proposed acquisition due to strategic considerations.

What are the implications of Creatd's decision regarding GTII?

The decision could affect Creatd's growth strategy and limit immediate revenue opportunities.

What is Creatd's mission in the creator economy?

Creatd aims to provide economic opportunities to creators and brands, fostering a safe ecosystem.

Will Creatd pursue other acquisition opportunities?

The press release does not mention future acquisition plans, focusing instead on current commitments.