Business
Global Tech Industries Group, Inc. Provides Further Update Regarding its Trento Resources and Energy Corp. Subsidiary
Global Tech Industries Group, Inc. Provides Further Update Regarding its Trento Resources and Energy Corp. Subsidiary.
About this update from Global Tech Industries Group, Inc.
[{"type":"text","content":"\n New York, NY, March 25, 2022 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today a further update regarding its wholly owned subsidiary, Trento Resources and Energy Corp. In addition to the memorandum of understanding with the qualified buyer mentioned in yesterday’s press release, Vanor Capital Resources Limited (“Vanor Capital”), the underwriter of the $350,000,000 bond offering for Trento Inversiones SpA, is also in ongoing negotiations with multiple other qualified buyers in connection with the bond offering. Upon conclusion of negotiations and the evaluation process, Vanor Capital and Trento Inversiones SpA intend to make final determinations regarding the selected buyer(s). They plan to update the Company accordingly on their decision at that time. 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. Visit GTII here https://gtii-us.com/. About Trento Resources and Energy Corp.: Trento Resources, is a Delaware corporation and wholly owned subsidiary of GTII. It was created to acquire a 40% interest in Inversiones Trento SpA (‘Trento SpA”), which is a privately held company registered in Copiapo, Chile, whose purpose is to develop, refine, and sell rare earth minerals and iron. Trento SpA owns fourteen hundred hectares of mining concessions for rare earth minerals and iron in Chile. Conclusions in the Associated Geological Consultants report, (under the NI43101 Canadian Code for Reporting Exploration Results Disclosure Standards for Mineral Projects) estimated 1,028,684.25 million tons of reserves of rare earth minerals and iron, valued at $15,430,290,000 (USD). www.inversionestrento.com Please follow our Company at: www.otcmarkets.com/stock/GTII or at https://gtii-us.com/ 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...