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GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES EVALUATION OF PROPOSED STOCK DIVIDEND CONSISTING OF MANDITORILY CONVERTIBLE AND REDEEMABLE PREFERRED STOCK
GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES EVALUATION OF PROPOSED STOCK DIVIDEND CONSISTING OF MANDITORILY CONVERTIBLE AND REDEEMABLE PREFERRED STOCK.
About this update from Global Tech Industries Group, Inc.
[{"type":"text","content":"\n New York, NY, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that management is evaluating a potential stock dividend to shareholders consisting of mandatorily convertible and redeemable preferred shares that are tied to a contingent interest in the Company’s health services subsidiary, which is currently being formed. David Reichman, CEO of GTII, commented, “As we move forward with our various transactions, we are always looking for ways to implement more effective management structures, position our subsidiaries to pursue a more focused industry-specific strategy, align the risk-profile of each subsidiary to its operations and allow our shareholders to participate in any increased value that may be created by our subsidiaries. We believe our health services subsidiary requires such evaluation.” 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. 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 beco...