Global Tech International
Beginning February 1st, and throughout the remainder of the month, the management of Global Tech Industries Group, Inc. (“GTII”) held several meetings with the Go Fun Group Holdings, Ltd. (“Go Fun”) an integrated O2O (online to offline) supply-chain facilitated company, which operates in the retail restaurant and online food service business sectors and is based in Hong Kong.
Go Fun also is engaged in the ‘Green’ food sourcing and logistics business, working with sustainable, local companies to further the science of healthy food preparation. Go Fun’s retail entries include traditional Chinese, Italian, and Japanese Steakhouse restaurants. The purpose of the ongoing exchange between GTII and Go Fun is to explore possible synergies, and facilitate investment in or acquisition of several of Go Fun’s operating units and/or assets. On February 15, 2016, GTII entered into a non-binding letter of intent with Go Fun to continue discussions and work on a mutual agreeable transaction and business plan, including a potential private placement for raising capital. We expect that further details will be worked out over the next three to four months.