New York, NY, October 02, 2022 (GLOBE NEWSWIRE) — (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII‘ or ‘The Company’), www.gtii-us.com, announced today that, after further market research and input from its legal team, management has determined that it is in the best interests of the Company’s shareholders to maintain the original exercise price of the last year Warrants (the “Warrants”). This decision was made because the common stock underlying the warrants was registered with the Securities and Exchange Commission (the “SEC”) in a registration statement on Form S-1 (the “S-1”), filed on September 26, 2021 with an exercise price of $2.75. A change to this exercise price would require an amendment to the S-1, which could result in common shares issued pursuant to a new exercise price not being registered at the time of issuance. Because the issuance of warrants was originally introduced to reward loyal shareholders and allow them to trade the registered shares of the common stock underlying the warrants, the change in exercise price has been abandoned and the warrants will continue to be valued as they are for resale shareholders of the S-1 were registered as a result of the said sale. Therefore, such stockholders will be entitled to exercise their warrants at the initial exercise price and receive common stock registered for resale on the S-1 by contacting Liberty Stock Transfer, Inc. (“Liberty”), the Company’s transfer agent.
Please contact Liberty Stock Transfer, Inc. (“Liberty”) for further information at the following address: [email protected],
AAbout Global Tech Industries Group, Inc.:
GTII is a publicly traded Nevada based company focused on acquiring new and innovative technologies. Visit GTII here https://gtii-us.com/.
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Forward-Looking Safe Harbor Statements:
This press release may contain forward-looking statements that are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results and results to differ materially from those anticipated or anticipated, including statements relating to the amount and the timing of expected earnings in relation to our financial performance, expected earnings, distributions and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in the Company’s filings and reports with the US Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected or contemplated in the forward-looking statements as a result of a number of factors discussed from time to time in our filings with the SEC. Among other things, the Company may not be able to sustain growth or achieve profitability due to many factors, including but not limited to the risk that we will not be able to locate and acquire businesses and assets that it enable us to become profitable. Attention is drawn to cautionary statements contained in the Company’s most recent SEC filings. We have incurred and will continue to incur significant costs during our development phase, recognizing that there is no guarantee that we will generate sufficient revenue to offset these costs in both the short and long term. New lines of business may expose us to additional legal and regulatory costs and unknown risks, the impact of which cannot be predicted at this time.
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Global Tech Industries Group, Inc
511 Sixth Avenue, Suite 800
New York, New York 10011