GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES AUTHORIZATION BY BOARD OF DIRECTORS TO EVALUATE DIVIDEND CONSISTING OF WARRANTS TO PURCHASE THE COMPANY’S COMMON STOCK
Global Tech Industries Group (GTII) announced that its Board of Directors has authorized the CEO to evaluate the possibility of declaring a dividend for common stockholders. This may include issuing warrants for purchasing common stock, designed to offer shareholders a chance to partake in the company's future growth. The feasibility of this action will be assessed, and terms including record date and exercise price will be proposed to the Board. This initiative aims to return value to shareholders while also reflecting confidence in GTII's future potential.
- Board authorized evaluation of a potential dividend to stockholders.
- Warrants may provide shareholders an opportunity to participate in future growth.
- None.
New York, March 10, 2021 (GLOBE NEWSWIRE) -- (GTII:OTCQB) Global Tech Industries Group, Inc. (“GTII” or the “Company”), www.gtii-us.com announced today that its Board of Directors has authorized the Company’s Chief Executive Officer to evaluate the feasibility of declaring a dividend (or other distribution) to holders of the Company’s common stock, in the form of warrants to purchase shares of its common stock for cash. The purpose of this corporate action would be to return a portion of the Company’s future value to the stockholders in a manner that gives all stockholders the opportunity to participate in the Company’s potential future growth.
GTII intends to evaluate the feasibility of such a corporate action and report its evaluations back to the Board of Directors, including a proposed structure for the corporate action, as well as a proposed record date, exercise price and terms for a warrant agreement. The final terms of any such corporate action would be subject to the approval of the Board of Directors.
About Global Tech Industries Group, Inc.: GTII, 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.
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International Monetary
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FAQ
What is GTII's plan for declaring a dividend?
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