Update to Global Tech Industries Group, Inc.’s Crypto Special Dividend
Global Tech Industries Group, Inc. (OTCQB: GTII) announced a special dividend of Shiba Inu tokens, with record holders receiving four tokens for each share held as of May 9, 2022. This decision was approved by the majority of the board and shareholders on April 28, 2022. The company is currently awaiting FINRA's processing of the initial application for this crypto dividend. Further details regarding distribution will be provided after processing. GTII focuses on acquiring innovative technologies to enhance business growth.
- Announcement of a crypto special dividend could attract investor interest.
- Distribution of Shiba Inu tokens may enhance shareholder value.
- Pending approval from FINRA introduces uncertainty regarding the distribution timeline.
- Company's reliance on innovative acquisitions raises concerns about future profitability.
New York, NY, May 02, 2022 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced that a majority of its board of directors and our majority shareholder signed consents on April 28, 2022, to declare a crypto special dividend of Shiba Inu tokens to the holders of the Company’s common stock . Holders of the Company’s common stock will receive four (4) Shiba Inu tokens for every one (1) share of the Company’s common stock owned by record holders as of the special dividend record date of May 9, 2022.
The Company has submitted the initial application for the dividend with FINRA and is awaiting further processing comments from FINRA. Once the special dividend is processed with FINRA, the Company will announce the effective date (which it anticipates will be sometime during May) and provide further information regarding the procedures by which the crypto special dividend will be distributed to the record holders.
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/.
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.
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.
Global Tech Industries Group, Inc.
511 Sixth Avenue, Suite 800
New York, NY 10011
Info@gtii-us.com
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