Global Tech Industries Group, Inc. and Ron Cavalier Sign an Independent Contractor Agreement

Rhea-AI Summary

Global Tech Industries Group (GTII) has entered into an Independent Contractor Agreement with Ronald Cavalier, founder of Cavalier Galleries Inc., to provide market research and services related to the fine arts sector. This agreement includes exploring tokenization of non-fungible assets (NFTs) and ensuring that all research is performed to industry standards. GTII aims to acquire innovative technologies, but there are risks associated with sustaining growth and profitability due to the significant expenses incurred in its development stage.

Positive

• Entering an agreement with an established figure in the art industry may enhance company credibility.
• Exploration of NFTs could open new revenue streams for the company.

Negative

• The company faces significant expenses in its development stage with no assurance of generating enough revenues to offset those costs.
• There is a risk that GTII may not sustain growth or achieve profitability without successful acquisitions.

New York, April 07, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, signed an Independent Contractor Agreement (“ICA”) with Ronald Cavalier. Mr. Cavalier founded Cavalier Galleries Inc. in Stamford, Ct. in 1986 www.cavaliergalleries.com., a group of four art galleries, with locations in Greenwich, CT, New York City, Nantucket Island, and Palm Beach, FL.

Under the terms of this independent Contractor Agreement, Mr. Cavalier will provide the Company with those services customarily provided by contractors in the business of fine arts, including but not limited to market research, performed in a workmanlike manner consistent with applicable industry standards and undertaken via traditional means, including internet, telephone and/or in-person research as needed. Applicable research and tokenization of non-fungible assets (NFTs), including but not limited to fine art and other services will continue to be explored, as in the original consulting agreement.

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.

Please follow our company at: www.otcmarkets.com/stock/GTII

Safe Harbor Forward-Looking Statements:
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
620 Newport Center Drive, #1100
Newport Beach, CA 92660
949.200.4601

FAQ

What is the new agreement signed by GTII on April 7, 2021?

GTII signed an Independent Contractor Agreement with Ronald Cavalier to provide market research and fine arts services.

Who is Ronald Cavalier and what is his role with GTII?

Ronald Cavalier is the founder of Cavalier Galleries Inc. and will provide services related to market research and tokenization of assets for GTII.

What risks are associated with GTII's growth and profitability?

GTII faces risks such as significant expenses during its development stage and challenges in sustaining growth or achieving profitability.

What are NFTs and how is GTII involved with them?

Non-fungible tokens (NFTs) are digital assets representing ownership of unique items. GTII plans to explore tokenization of fine art as part of its services.