New York, New York, March 22, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or the “Company”) announced today that its Board of Directors approved the declaration by management of a Warrant to holders of its common stock to purchase additional shares of stock.
Holders of the Company’s common stock will receive 1/10th of a warrant for each share of common stock held as of the record date, and each warrant will entitle the holder to purchase one share of the Company’s common stock for a purchase price of $2.75 per share. The Company intends to distribute the warrants on or about April 8, 2021 to shareholders of record as of April 1, 2021. The warrants will have a term of two years.
David Reichman, Chief Executive Officer of GTII, commented, "The Board recognizes the importance of its shareholders and has declared this warrant in order to return a portion of the Company’s future value to all of our shareholders in a manner that gives them the opportunity to participate in the Company’s potential future growth.”
The Company will also be filing a Current Report on Form 8-K which will contain further details regarding the warrants and the warrant agreement pursuant to which the warrants will be distributed.
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.
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