Global Tech provides the protective umbrella of a publicly listed and fully compliant SEC-audited company to acquisition candidates. We can deliver the means through incubation for private companies to become public entities in good standing.
Global Tech Industries Group, Inc. acquires AI Commerce Group, LLC., through a binding Membership Interest Purchase Agreement
New York, NY, Aug. 21, 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 Membership Interest Purchase Agreement (“MIPA”) with AI Commerce Holdings, LLC., (“AI Holdings”) to acquire all the membership interest, including the assets and operations of MIPA, from the members of AI Commerce Group, LLC, (“AI Group”), a privately held Puerto Rico company in the business of acquiring and operating ecommerce websites and brands to make them more efficient. The new company would become part of GTII through the incorporation of a new, wholly owned subsidiary.
AI GROUP was incorporated to take advantage of the inefficiencies in ecommerce by using AI technologies. The team is made up of experts in digital marketing, ecommerce, sourcing and procurement, and banking.
David Reichman, Chairman & CEO of GTII, stated, “This is a very important day for the company and its shareholders, as management has successfully negotiated an agreement that may put us squarely in the burgeoning AI business sector. We are looking forward to working with AI Group to bring its assets and operations into the public sector.”
About GTII: 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/.
About AI Commerce Holding, LLC. AI Commerce group is the next generation of e-commerce using technology and artificial intelligence to improve efficiencies in all stages in direct to retail brands. We provide brands and companies that need expertise, technology, and capital to help reach their full potential. The team is comprised of seasoned veterans in e-commerce, sourcing, logistics, digital marketing, and banking. Please visit https://aicommercegroup.com to learn more.
Please follow our Company at: www.otcmarkets.com/stock/GTII
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
(Corrected) Global Tech Industries Group, Inc. acquires AI Commerce Group, LLC., through a binding Membership Interest Purchase Agreement
New York, NY, Aug. 21, 2023 (GLOBE NEWSWIRE) -- (GTII: OTC) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, announced today that it has signed a Membership Interest Purchase Agreement (“MIPA”) with AI Commerce Holdings, LLC., (“AI Holdings”) to acquire all the membership interest, including the assets and operations of MIPA, from the members of AI Commerce Group, LLC, (“AI Group”), a privately held Puerto Rico company in the business of acquiring and operating ecommerce websites and brands to make them more efficient. The new company would become part of GTII through the incorporation of a new, wholly owned subsidiary.
AI GROUP was incorporated to take advantage of the inefficiencies in ecommerce by using AI technologies. The team is made up of experts in digital marketing, ecommerce, sourcing and procurement, and banking.
David Reichman, Chairman & CEO of GTII, stated, “This is a very important day for the company and its shareholders, as management has successfully negotiated an agreement that may put us squarely in the burgeoning AI business sector. We are looking forward to working with AI Group to bring its assets and operations into the public sector.”
About GTII: 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/.
About AI Commerce Holding, LLC. AI Commerce group is the next generation of e-commerce using technology and artificial intelligence to improve efficiencies in all stages in direct to retail brands. We provide brands and companies that need expertise, technology, and capital to help reach their full potential. The team is comprised of seasoned veterans in e-commerce, sourcing, logistics, digital marketing, and banking. Please visit https://aicommercegroup.com to learn more.
Please follow our Company at: www.otcmarkets.com/stock/GTII
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
GLOBAL TECH INDUSTRIES GROUP, INC. UPDATES ITS SHAREHOLDERS ON RECENT MARKET ACTIVITY
GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES A CHANGE FROM THE BOARD DECISION REGARDING THE STRIKE PRICE FOR THE OUTSTANDING WARRANTS
GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES A CLARIFICATION OF THE BOARD DECISION TO SET A NEW STRIKE PRICE FOR THE OUTSTANDING WARRANTS
GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES A BOARD DECISION TO SET A NEW STRIKE PRICE FOR THE OUTSTANDING WARRANTS
We make it a priority to scout for, research, and acquire private companies that can deliver value to our loyal shareholders. Our process is careful and diligent, and we will persist in our efforts by acquiring operations that bring value to our portfolio or potential revenue to our bottom line.
GTII has a dedicated team of professionals that are on a continuous search tolook across various and diverse industry sectors to find potential partners. GTII is looking for synergies between the companies to uncover the best way to stimulate innovations and growth in an emerging business platform on a global stage.
Using all available communication tools to bring unknow businesses together to form a partnership with GTII. In the exploratory phase which follows the initial contact to find that common ground that is needed for GTII to assist in animating their business plans, through a joint venture, or stock purchase, to spinout on their own.
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GTII can assist private companies, through the incubation period, to become public companies in their own right and in good standing. There is a full disclosure of ideas, fact gathering and possibilities between both parties, and clearly defines all the information that is needed to take it from the exploratory discussion phase and move into the creative collaboration phase, which establishes the framework of the final working plan to get to the breakout phase and ultimately across the finished line.
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Once the hard work is done, there is a full review of the plan on how GTII will assist in taking this new partnership down the correct path to make sure that all the goals are met and there is a successful end. Then comes the preverbal “hand-shake”, and the partnership is formed
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Global Tech Industries Group, Inc. sets the stage and develops the assets to stimulate innovation and growth in cutting edge technologies and emerging businesses on a global basis. Our corporate mission is to facilitate, through the use of next generation technology, the delivery of alternative and innovative methods and systems that will lead to. Our corporate mission is to facilitate, through the use of next generation technology, the delivery of alternative and innovative methods and systems that will lead to healthier lifestyles and result in a more sustainable planet.
Global Tech Industries Group is looking to expand their Board of Directors. If you feel that you have the qualifications and business background to sit on a Publicly Traded company's Board of Directors, please send your resume to info@ gtii-us.com