Global Tech Industries Group, Inc. has communicated with brokerage firms regarding the stock dividend issued in April 2023

Rhea-AI Summary

Global Tech Industries Group, Inc. (GTII) has communicated with major brokerage firms to ensure the stock dividend issued on April 29, 2023, is deposited into shareholders' accounts. Shareholders can deposit shares in advance by completing a Stockholder’s Representation Letter. All shareholders should have their shares deposited by April 29, 2024. GTII's transfer agent, Liberty Stock Transfer Co., is providing further clarification and assistance.

New York, NY, Feb. 26, 2024 (GLOBE NEWSWIRE) -- (GTII: OTC) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, announced today, as part of its objective to support its shareholders, that it has communicated with eight major brokerage firms through a registered letter in order to ensure that the stock dividend issued on April 29, 2023 is appropriately deposited into shareholders’ respective accounts. Furthermore, GTII wishes to inform shareholders that if they wish to deposit their shares in advance, they should complete a Stockholder’s Representation Letter,, which outlines the procedures to deposit their shares in advance. In any event, GTII believes that all shareholders should have their shares deposited on or around April 29, 2024, which marks the one year date from the date of issuance of the stock dividend. Liberty Stock Transfer Co., (“Liberty”), GTII’s transfer agent is also sending out a general information letter to the brokers that offers further clarification and assistance in responding to the receipt of any Stockholder’s Representation Letter, on the basis of a blanket legal opinion concerning the stock dividend held by Liberty.

David Reichman, Chairman & CEO of GTII, stated, “We appreciate our shareholders’ patience in awaiting the depositing of their 10% stock dividend. We will continue to support our shareholders and are doing everything we can to facilitate the process for them to obtain their dividend shares.”

About GTII: GTII is a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies. Visit GTII here https://gtii-us.com/.

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

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.

Global Tech Industries Group, Inc.
511 Sixth Avenue, Suite 800
New York, NY 10011
Info@gtii-us.com

FAQ

How can GTII shareholders ensure the stock dividend is deposited into their accounts?

GTII has communicated with major brokerage firms to ensure the stock dividend issued on April 29, 2023, is appropriately deposited into shareholders' respective accounts.

What is the procedure for GTII shareholders to deposit their shares in advance?

Shareholders can deposit their shares in advance by completing a Stockholder’s Representation Letter.

When should GTII shareholders expect to have their shares deposited?

All shareholders should have their shares deposited on or around April 29, 2024, marking one year from the date of issuance of the stock dividend.

Who is GTII's transfer agent providing further clarification and assistance?

GTII's transfer agent, Liberty Stock Transfer Co., is providing further clarification and assistance to brokers regarding the stock dividend.

What is GTII's focus as a publicly traded company?

GTII is focused on acquiring new and innovative technologies as a publicly traded company incorporated in the state of Nevada.