Global Tech Industries Group, Inc. signs a Letter of Intent with BOCA Del Toro, LLC., a Costa Rican Water Company
New York, NY, June 27, 2023 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, announced today that it has signed a non-binding Letter of Intent (“LOI”) with Boca Del Toro LLC., (“BOCA”) a privately-held Costa Rican company that owns a scalable commercial grade mineral based Aquifer located in a large recognized Blue Zone, which is both an anthropological term and recognized geographical area (there are five recognized Blue Zones worldwide) whereby people live longer than average, experiencing healthier lives overall. The water source is situated on five (5) acres of land owned by BOCA, which also owns the concessions rights. BOCA purchased the property in 2007 and was issued a water concession and extraction license in 2014.
According to BOCA, it has been in the land development business on the Pacific Coast for over 20 years and discovered this source by extensive lab and pump testing. BOCA spent years and financial resources to attempt to maximize the Aquifers’ value by meeting regulatory standards and production capabilities.
Frank Brady, Partner in BOCA, stated: “Once we realized the scale and naturally occurring nutritional content of this water and compared it to the major premier brands, we believed that we had an extremely valuable natural resource and competitive edge. Thereafter, we made the decision to explore partnering with GTII, a public company in the business of partnering with developing companies, to attempt to facilitate our intention, which is to make this company a global player in the commercial water business.”
David Reichman, Chairman & CEO of GTII, stated: ‘There are few commodities in this world today more precious than fresh water, and so when you find one that appears to be so much more than a basic commodity, based on the documented evidence that we have looked at, it was no surprise that management decided to move decisively to work more closely with BOCA”.
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Global Tech Industries Group, Inc.
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