GLOBAL TECH INDUSTRIES GROUP, INC.’s BEGINS WARRANT DISTRIBUTION MAILING
GTII has initiated a shareholder mailing regarding a Warrant Distribution, informing shareholders of record as of April 1, 2021, that they will receive 0.10 of a Warrant for each common share owned. Each full Warrant allows the purchase of one common stock share at an exercise price of $2.75. Warrants will be issued in book-entry form, and registered shareholders will not need to take any action to receive them.
Shareholders can contact the company via email or phone for inquiries about the distribution.
- Shareholders of record will receive Warrants, potentially increasing shareholder value.
- Each Warrant offers the right to buy a share at a competitive price of $2.75.
- Warrants are not DTC eligible, complicating the distribution process.
- Uncertainty remains about the company's ability to sustain growth and achieve profitability.
New York, April 12, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or the “Company”), www.gtii-us.com announced today that it has commenced the shareholder mailing that provides the general terms and information regarding the Warrant Distribution, which will continue throughout the week. This will advise all GTII shareholders of the Warrant distribution and how they can claim their dividend in the form of a Warrant if they choose to participate.
As a reminder, the general terms of the Warrant Distribution provide that the Company’s shareholders of record as of April 1, 2021, will receive 0.10 of a Warrant for each share of the Company’s common stock held as of the record date. Each full Warrant will represent the right to purchase one share of common stock for cash at an exercise price of
As the Warrants are not DTC eligible, they will be processed by the Company’s transfer agent as follows:
| ● | All Warrants will be issued in book-entry form. |
| ● | If you are a registered shareholder of the Company and hold your common stock shares in certificate or book-entry you need not do anything to receive your Warrants, as the transfer agent will issue your Warrants directly to your account via book-entry. |
| ● | If you hold your common stock shares in “street name,” through banks, brokers or other DTC participants, the transfer agent will allocate Warrants to each participant based upon their DTC position as of the record date. The participant should ensure that each of their beneficial owners are properly allocated the Warrants from their Warrant allocation from the transfer agent. |
| ● | If your Warrants have been allocated to your account by your broker, you may move your Warrants to direct registration with the Company by requesting your broker to contact the transfer agent. Upon contact from the broker, the transfer agent will move your Warrants from your broker to a book entry account in your name. |
Inquiries from shareholders or participants regarding the Warrant Distribution can be directed as follows:
Email: GTII@allianceadvisors.com
Tel: 855.200.8651
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 Warrant Distribution by GTII?
What is the exercise price for the Warrants issued by GTII?
How will GTII shareholders receive their Warrants?
When will the Warrant Distribution occur for GTII shareholders?
