GLOBAL TECH INDUSTRIES GROUP, INC EXECUTES FINAL STOCK PURCHASE AGREEMENT WITH BRONX FAMILY EYE CARE, INC.

Rhea-AI Summary

GTII has executed a binding Stock Purchase Agreement with Bronx Family Eye Care, effective March 31, 2021. This acquisition marks a strategic move for GTII, making Bronx Family Eye Care a wholly owned subsidiary. Shareholders from Bronx Family Eye Care received 2,650,000 shares of GTII common stock. The deal, finalized ahead of schedule, highlights the professional collaboration between both parties. GTII is focused on acquiring innovative technologies and potential business partnerships to drive future growth.

Positive

• Acquisition of Bronx Family Eye Care enhances GTII's portfolio.
• Deal closed three weeks ahead of schedule, indicating strong operational capability.
• Shareholders of Bronx Family Eye Care received 2,650,000 shares, strengthening GTII's equity base.

Negative

• None.

New York, April 06, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced that on March 31, 2021, the Company signed and executed a binding Stock Purchase Agreement (“SPA”) with Bronx Family Eye Care, Inc., a New York corporation, engaged in the business of full scope optometry at its four primary locations, three of which are in the Bronx, one of which is in Manhattan, New York, as well as at a fabrication facility in the Bronx. The SPA was signed and closed electronically on March 31, 2021. The two companies had agreed to engage in a business combination such that BFE would become a wholly owned subsidiary of GTII when they signed a binding Letter of Intent (“LOI”) on March 21, 2021. Subsequently the shareholders of BFE (the “BFE shareholders”) acquired two million six hundred fifty thousand (2,650,000) shares of the common stock of GTII (the “GTII Common Stock”), issued on March 31, 2021, the date of the closing. As such, this SPA is legally binding on the parties and is in full force and effect as of March 31, 2021.

David Reichman, GTII’s Chairman & CEO, stated, “To have both parties agree to move forward and close this acquisition three weeks ahead of schedule speaks loudly to the professionalism of the GTII staff and the Bronx Family Eye Care team. This is just the beginning, as we continue to mine this space for new potential acquisitions and partners.”

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.

Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.

Blaine Riley – br@intlmonetary.com
International Monetary
620 Newport Center Drive, #1100
Newport Beach, CA 92660
949.200.4601

FAQ

What is the recent acquisition by GTII?

GTII recently acquired Bronx Family Eye Care, making it a wholly owned subsidiary.

When was the Stock Purchase Agreement signed by GTII?

The binding Stock Purchase Agreement was signed on March 31, 2021.

How many shares did Bronx Family Eye Care shareholders receive from GTII?

The shareholders received 2,650,000 shares of GTII common stock.

What does GTII specialize in?

GTII specializes in acquiring innovative technologies.