Global Tech Industries Group, Inc’s. Executes a Letter of Intent with Wildfire Media Corp.
Global Tech Industries Group (GTII) announced a non-binding Letter of Intent to acquire Wildfire Media Corp., a legal marketing firm. The acquisition is expected to be finalized within 90 days and aims to enhance GTII's reach in the legal advisory sector. GTII plans to secure a 100% interest in Wildfire Media through common shares, contingent on asset verification and mutual due diligence. Executives from both companies expressed optimism about the partnership's growth potential and innovative technology integration.
- Non-binding Letter of Intent signed with Wildfire Media Corp. to acquire a 100% interest.
- Anticipated closing of a definitive purchase agreement within 90 days.
- Potential growth in the legal marketing sector through the acquisition.
- Acquisition contingent on asset verification and PCAOB-compliant audit.
- Potential risks associated with the acquisition process and successful integration.
New York, NY, March 10, 2022 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that it has signed a non-binding Letter of Intent (“LOI”) with Wildfire Media Corp. (“Wildfire Media”), a legal marketing company in the business of supporting law firms with client acquisition research, data-driven marketing, media planning and analysis and client retention services. A definitive purchase agreement is anticipated within 90 days.
Wildfire Media licenses the 1-800-LAW-FIRM brand to a national network of law firms committed to protecting the rights of clients in areas as diverse as consumer protection, environmental hazards, civil rights, and criminal defense among other areas. The expectation is for GTII to acquire a
David Reichman, GTII’s Chief Executive Officer, stated "When we see an opportunity to partner with an organization in the business of expanding access to legal advice and support, the GTII team will attempt to move quickly every time. We are excited to start the due diligence process with Wildfire Media, as they have indicated an understanding of the ability, knowledge and public access that GTII can provide them to continue with their growth strategy."
Ari Kresch, Wildfire Media Corp. Founder, said “Combining the significant growth potential of our national brands, like 1-800-LAW-FIRM, with a business that embraces innovative technologies like GTII is a natural next step in the evolution of our Legal Support Organization (LSO). Our focus on A.I. enabled marketing, data and technology solutions, and scale could allow us to leverage our customer base and brands that Wildfire Media has established over three decades. We look forward to closing a mutually accretive acquisition and a new future together.”
Founded in 1996, Wildfire Media provides performance-based marketing and technology solutions that enable law firms to concentrate on what they do best. Wildfire Media is establishing a Legal Support Organization (LSO) so that law firms are equipped to combine advances in the latest technologies along with best operational practices, both provided by our LSO.
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/.
Pease follow our Company at: www.otcmarkets.com/stock/GTII or at https://gtii-us.com/
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