GLOBAL TECH INDUSTRIES GROUP, INC. RETIRES GENEVA ROTH REMARK HOLDINGS, INC. CONVERTIBLE DEBT.

Rhea-AI Summary

GTII (OTCQB) has announced the full repayment of its convertible debt, marking a significant step in establishing a sound financial structure. This action follows its return to the OTCQB marketplace in January 2021. President Kathy Griffin expressed optimism about the company's business strategy, believing this year will be pivotal. The Vice-Chair of the Board, Frank Benintendo, voiced strong confidence in management's capabilities. GTII focuses on acquiring innovative technologies but faces uncertainties regarding future profitability due to potential challenges in finding and acquiring viable assets.

Positive

• Full repayment of convertible debt enhances financial stability.
• Return to OTCQB indicates improved market position.
• Management expresses optimism about the company's future.

Negative

• Uncertainties remain regarding future profitability.
• Challenges in finding and acquiring businesses could hinder growth.

New York, New York, Feb. 26, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “Company”), www.gtii-us.com a development stage company, focused on acquiring new and innovative technologies in diverse industries, after quotation on the OTCQB marketplace, and retaining International Monetary for capital formation and support of its investor relations efforts, today announced that it has retired its convertible debt.

GTII’s President, Kathy Griffin, stated, ”GTII takes great pleasure in announcing the full repayment of the convertible debt facility previously entered into last November, 2020. Our Board and our project team are working tirelessly to execute the company’s business plan. The company was accepted back onto the “QB” as of January, 2021, so this is a continuation of what we believe will be an exciting year.”

Frank Benintendo, Vice-Chair of the Board, expressed great confidence in management and the entire project team. He added, “This is the second important step in creating a sound financial structure as we go forward in 2021.”

Please visit our page on OTC Markets for current market price.

About Global Tech Industries Group, Inc.: GTII, a publicly traded company incorporated in the state of Nevada, is a development stage company, specializing in the pursuit of acquiring new and innovative technologies.

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

www.gtii-us.com
www.otcmarkets.com/stock/gtii

FAQ

What did GTII announce on February 26, 2021?

GTII announced the full repayment of its convertible debt.

How does GTII's debt repayment impact its financial structure?

The repayment enhances GTII's financial stability moving forward.

Is GTII back on the OTCQB marketplace?

Yes, GTII was accepted back onto the OTCQB marketplace as of January 2021.

What is GTII's focus as a development stage company?

GTII focuses on acquiring new and innovative technologies.

What risks does GTII face in achieving future profitability?

GTII faces uncertainties in acquiring viable businesses and assets.