GlobeNewswire Inc | Apr 6, 2021 09:00AM EDT

April 06, 2021

New York, April 06, 2021 (GLOBE NEWSWIRE) -- (GTII OTCQB) Global Tech Industries Group, Inc. (GTII or the Company), www.gtii-us.com, a Nevada corporation, announced that on March 31, 2021, the Company signed and executed a binding Stock Purchase Agreement (SPA) with Bronx Family Eye Care, Inc., a New York corporation, engaged in the business of full scope optometry at its four primary locations, three of which are in the Bronx, one of which is in Manhattan, New York, as well as at a fabrication facility in the Bronx. The SPA was signed and closed electronically on March 31, 2021. The two companies had agreed to engage in a business combination such that BFE would become a wholly owned subsidiary of GTII when they signed a binding Letter of Intent (LOI) on March 21, 2021. Subsequently the shareholders of BFE (the BFE shareholders) acquired two million six hundred fifty thousand (2,650,000) shares of the common stock of GTII (the GTII Common Stock), issued on March 31, 2021, the date of the closing. As such, this SPA is legally binding on the parties and is in full force and effect as of March 31, 2021.

David Reichman, GTIIs Chairman & CEO, stated, To have both parties agree to move forward and close this acquisition three weeks ahead of schedule speaks loudly to the professionalism of the GTII staff and the Bronx Family Eye Care team. This is just the beginning, as we continue to mine this space for new potential acquisitions and partners.

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 StatementsThis 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 assetsthat 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.

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