GLOBAL TECH INDUSTRIES GROUP, INC. SIGNS LETTER OF INTENT WITH ALT 5 SIGMA, INC. TO EXPLORE BUSINESS COMBINATION
As such, the parties have entered into a non-binding Letter of Intent to explore the options for such a business combination, and attempt toarrive at an agreement that is beneficial to both companies and their shareholders.
New York, NY, April 10, 2021 (GLOBE NEWSWIRE) -- (GTII:OTCQB) Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation announced on April 9, 2021, that the Company had engaged Alt5 Sigma, Inc. to provide the platform for creating NFTs for its upcoming art assets, as well as future assets requiring tokenization. During their discussions, both companies recognized that a unique synergy may exist between the two companies that warranted further exploration. Both sides believe that a corporate structure combining GTII and Alt5 Sigma could be extremely and mutually beneficial to both companies’ shareholders. As such, the parties have entered into a non-binding Letter of Intent to explore the options for such a business combination, and attempt to arrive at an agreement that is beneficial to both companies and their shareholders.
David Reichman, CEO of GTII, commented “We are moving quickly, but with purpose and intent, as we realize that the potential this kind of partnership represents is unique for GTII, utilizing Alt 5’s platform and Ron Cavalier’s expertise in the NFT world of digital art to further GTII’s business plan of introducing innovative technologies as well as realize value for our many long-term and loyal shareholders.”
Andre Beauchesne, Chairman of Alt5, said “In our discussions with GTII regarding their NFT initiative and other long term strategic plans, it became clear to us that a unique synergy existed, and we agreed that some type of business combination between two companies could create opportunities for management and shareholders of both companies to benefit and accelerate the development of both companies’ long range goals. We look forward to working with GTII’s management to execute an agreement that will be mutually rewarding and continue to create sustainable value for all stakeholders.”
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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