Business
Global Tech Industries Group, Inc. and Creatd, Inc. begin Formal Merger Discussions.
Global Tech Industries Group, Inc. and Creatd, Inc. begin Formal Merger Discussions..
About this update from Creatd Inc.
[{"type":"text","content":"\n New York, NY, Dec. 27, 2022 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII”), www.gtii-us.com, and Creatd, Inc. (CRTD: OTCQB) (“Creatd”), today announced that they have formally begun discussions to explore synergies, including a potential merger. Final agreements will be subject to financing, due diligence, breakup fees, and regulatory approval, as well as by the boards and shareholders of both parties. Both companies expect that their stocks will be retired and exchanged for shares in a NewCo with a new CUSIP, with the intent to eventually be listed on a national exchange. Creatd intends on completing its spinoff of its media subsidiary OG Collection Inc. GTII remains committed to its acquisition of 1-800-Law-Firm (“1-800”), pending due diligence and 1-800’s audit.  CRTD Chairman and CEO Jeremy Frommer, stated, “I believe we have a compelling opportunity to combine these two companies. I am particularly excited by the idea that this may be a unique situation where, both technically and fundamentally, the whole is greater than the sum of its parts. I look forward to working with David and his team.” GTII Chairman and CEO David Reichman, added, “We view this potential combination as a bold move toward creating more value for our shareholders. Jeremy and his team bring the knowledge and wherewithal to help GTII meet its long stated goal of being listed on a national exchange.” About Creatd: Creatd, Inc. (OTCQB: CRTD) is a company with a mission to provide economic opportunities to creators and brands by multiplying the impact of platforms, people, and technology. Creatd's pillars work together to create a flywheel effect, supporting our core vision of creating a viable and safe ecosystem for all stakeholders in the creator economy. Creatd: https://creatd.com;Creatd IR: https://investors.creatd.com;Vocal Platform: https://vocal.media;Investor Relations Contact: [email protected] 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/ Please follow GTII at: www.otcmarkets.com/stock/GTII Safe Harbor Forward-Looking Statements:This press release may contain forward looking statements that are based on...