Global Tech Industries Group, Inc. Provides Update Regarding its Trento Resources and Energy Corp. Subsidiary

Rhea-AI Summary

Global Tech Industries Group, Inc. (GTII) announced that Vanor Capital Resources Limited is in talks with Style Age, Inc. to finalize a $350 million bond offering for Trento Inversiones SpA. These funds will support rare earth mineral mining operations in Chile.

Upon closing, GTII's subsidiary will acquire a 40% equity interest in Trento, while issuing 100 million shares to former shareholder Sean Wintraub. The deal could position GTII favorably in the growing rare earth market, driven by increasing demand for green technologies.

Positive

• GTII's subsidiary to acquire a 40% equity interest in Trento Inversiones SpA, creating potential for revenue generation.
• Access to a $350 million bond offering could significantly fund rare earth mining operations in Chile.

Negative

• None.

New York, NY, March 24, 2022 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that Vanor Capital Resources Limited (“Vanor Capital”), the underwriter of a $350,000,000 bond offering for Trento Inversiones SpA, has entered into a memorandum of understanding with Style Age, Inc., a U.S. corporation with offices in Miami, FL and Dubai, UAE, www.styleageinc.com (“SAI”), pursuant to which the parties are engaging in discussions to enter into a definitive agreement for the purchase by SAI of the entire $350,000,000 bond offering. GTII has been informed by Trento Inversiones SpA that Vanor Capital has confirmed SAI’s availability of funds for the bond purchase.

Upon closing of the bond purchase, the bond sale proceeds will be funded to Trento Inversiones SpA in accordance with the terms and conditions of the Private Placement Bond Offering Memorandum, at which time Trento Inversiones SpA intends to commence its rare earth minerals mining operations in Chile. Simultaneous with the closing of the bond purchase, GTII’s wholly owned subsidiary, Trento Resources and Energy Corp. (“Trento Resources”), will acquire a 40% equity interest in Trento Inversiones SpA and GTII will issue to Mr. Sean Wintraub, the former sole shareholder of Trento Resources, 100,000,000 shares of GTII common stock. Mr. Wintraub is a United Nations global initiative founder who bears diplomatic status and has dedicated over 20 years of his life to the development of breakthrough technologies for humanity.

David Reichman, GTII’s Chief Executive Officer, stated “We are very pleased that Trento Inversiones SpA is moving closer to completing its bond offering, which will fund its substantial rare earth minerals mining operations in Chile. This proposed transaction can create an incredible opportunity for GTII in the rare earth minerals space, as the demand for rare earth minerals increases dramatically with the shift to green technologies."

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. Visit GTII here https://gtii-us.com/.

About Trento Resources and Energy Corp.: Trento Resources, is a Delaware corporation and wholly owned subsidiary of GTII. It was created to acquire a 40% interest in Inversiones Trento SpA (‘Trento SpA”), which is a privately held company registered in Copiapo, Chile, whose purpose is to develop, refine, and sell rare earth minerals and iron. Trento SpA owns fourteen hundred hectares of mining concessions for rare earth minerals and iron in Chile. Conclusions in the Associated Geological Consultants report, (under the NI43101 Canadian Code for Reporting Exploration Results Disclosure Standards for Mineral Projects) estimated 1,028,684.25 million tons of reserves of rare earth minerals and iron, valued at $15,430,290,000 (USD). www.inversionestrento.com

Please follow our Company at: www.otcmarkets.com/stock/GTII or at https://gtii-us.com/

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

FAQ

What is the significance of GTII's $350 million bond offering?

The bond offering will fund Trento Inversiones SpA's rare earth minerals mining operations in Chile, potentially enhancing GTII's position in the market.

How will GTII benefit from its investment in Trento Inversiones SpA?

GTII will acquire a 40% equity interest in Trento, which could lead to revenue from mining operations.

What is Trento Inversiones SpA's focus in the mining sector?

Trento Inversiones SpA aims to mine rare earth minerals and iron in Chile, supported by the funds from the bond offering.

Who is Sean Wintraub in relation to GTII?

Sean Wintraub is the former sole shareholder of Trento Resources and will receive 100 million shares of GTII stock upon closing of the bond deal.

What are the risks associated with GTII's forward-looking statements?

GTII's forward-looking statements involve risks that could impact profitability, including the uncertainty of acquiring profitable businesses.