Global Tech Industries Group, Inc., We Supergreen Energy Corp. and the We SuperGreen Energy Corp Shareholders, Enter into Definitive Letter Agreement
New York, Aug. 24, 2021 (GLOBE NEWSWIRE) — (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “the Company”), www.gtii-us.com, a Nevada Corporation, announced today that it has entered into a definitive letter agreement (the “Letter Agreement”) with We SuperGreen Energy Corp., (“WSGE”) and the shareholders of WSGE (the “WSGE Shareholders”).
Under the terms of the Letter Agreement, GTII will acquire 100% of the issued and outstanding capital stock of WSGE from the WSGE Shareholders, which will result in WSGE becoming a wholly-owned subsidiary of GTII at the closing of the transaction, which the parties anticipate will occur on or before December 30th, 2021 (the “Closing”). The Closing is subject to customary and specific terms and conditions contained in the Letter Agreement.
At or by the Closing, GTII shall endeavor to file for an up-listing, with a symbol change, to a national exchange such as the NASDAQ or NYSE. Consistent with GTII practices, the completion of a two-year audit of WSGE shall be a condition precedent to Closing.
GTII’s Chief Executive Officer, Mr. David Reichman, stated, “We are very much looking forward to concluding our transaction with We SuperGreen. We SuperGreen’s technology has potentially transformative implications in the renewable energy space, and we are happy to participate in this unprecedented opportunity. We truly look forward to working with We SuperGreen’s revolutionary technology in an effort to bring it to various parts of the world, including expanding relationships with the United Nations and others.”
Calvin Cao, Founder, Chairman, and CEO of We SuperGreen added, “We are bringing our disruptive renewable energy technology to countries throughout the world, and we are very much looking forward to concluding our business combination with GTII, as it will help us accelerate our growth plans and enable our shareholders to benefit from that growth.”
About Global Tech Industries Group, Inc.: GTII is a publicly traded company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
Please follow our Company at: www.otcmarkets.com/stock/GTII
Safe 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.
Princeton Research, Inc.
3887 Pacific Street, Las Vegas NV