GlobeNewswire Inc | Dec 8, 2021 07:44PM EST

December 09, 2021

New York, NY, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (GTII or theCompany), www.gtii-us.com, a Nevada corporation, announced today it has submitted, to the Securities and Exchange Commission (the SEC), a FORM S-1 registration statement which, if approved, would allow the Company to distribute up to 26,000,000 newly minted and registered cryptocurrency tokens as a dividend to GTII shareholders.

Pending SEC approval, the Company would mint 1,000,000,000 cryptocurrency tokens (the GFT Token) on the Solana blockchain using the Solana Simple Ledger Protocol (SLP) token specification. The GFT Token will then be distributed as a dividend to its shareholders at a rate of one (1) GFT Token for every ten (10) shares of GTII common stock beneficially held as of a yet-to-be-determined record date.

The GFT Token, whose value would be pegged to the value of GTIIs fine art collection, will be distributed from GTIIs digital wallet directly to the digital wallets of eligible shareholders. The Company will retain all balance of the undistributed GTII Token in its digital wallet for future use.

GTIIs Chief Executive Officer, David Reichman, stated This project has been in development for the last several months, but unlike other endeavors that have demanded our attention within the framework of a quick turnaround, this one has required a different, more laser-like kind of focus and attention. I am proud of the grit and tenacity exhibited by our technical team, as well as management and our other service providers who have brought this effort to this point. The learning curve was very steep, to say the least, and the job done by the entire team is something Im very proud of.

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 Companys 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.

Mike KingPrinceton Research, Inc.3887 Pacific Street, Las Vegas, NV702.338.2700