GLOBAL TECH INDUSTRIES GROUP, INC. AND BRONX FAMILY EYE CARE, INC. SIGN DEFINITIVE STOCK PURCHASE AGREEMENT AHEAD OF SCHEDULE
Global Tech Industries Group, Inc. (GTII) has signed a definitive stock purchase agreement with Bronx Family Eye Care, Inc., enhancing its portfolio in the optometry sector. The acquisition aligns with GTII's growth strategy, as Bronx Family Eye Care operates four locations in New York and has demonstrated revenue and profit generation. President Kathy Griffin highlighted the acquisition's positive impact on GTII's balance sheet, positioning the company for growth in Q2 2021. GTII plans to seek additional eye care acquisitions to capitalize on this momentum.
- Acquisition of Bronx Family Eye Care enhances GTII's portfolio.
- Bronx Family Eye Care is profitable and generates revenue.
- Acquisition supports GTII’s aggressive growth strategy.
- None.
New York, April 01, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or the “Company”), www.gtii-us.com, a Nevada Corporation, and Bronx Family Eye Care, Inc., a New York corporation engaged in the business of full scope optometry, signed a definitive stock purchase agreement, and negotiated the requisite employment agreements within the thirty (30) day timeframe that the two companies had set for themselves on March 21st, 2021, when they signed the binding Letter of Intent. Bronx Family Eye Care, Inc. operates four locations, three of which are in the Bronx, and one of which is in Manhattan, New York. Bronx Family Eye Care, Inc.’s certified optometrists use cutting-edge equipment to provide diagnosis and treatment for diseases of the eye, as well as corrective eyewear, to residents of the Bronx and Upper Manhattan. GTII now intends to actively seek and acquire other eye care companies that operate in similar manner to Bronx Family Eye Care, Inc. in order to capitalize on its aggressive growth plan more fully.
GTII’s President, Kathy Griffin, stated, “We decided early on to move this acquisition target into the plus column for GTII as quickly as possible. Bronx Family Eye Care, Inc. is a great fit for our company, as it has been successfully operating on its own, has realized revenue and profits on its own, and is looking to GTII primarily for the entre and assistance in the public marketplace that we can afford them. This tremendous positive for our balance sheet kick starts us as we move into the second quarter of 2021, already having made significant inroads towards the execution of our business plan. “
About Global Tech Industries Group, Inc.: GTII is a publicly traded company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
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This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and acquire businesses and assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
Blaine Riley – br@intlmonetary.com
International Monetary
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949.200.4601
www.gtii-us.com
www.otcmarkets.com/stock/GTII
FAQ
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