GLOBAL TECH INDUSTRIES GROUP, INC. Announces Update Regarding Warrant Distribution
New York, April 01, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com announced today an update regarding its previously announced warrant distribution (the “Warrant Distribution”). Since its last announcement regarding the Warrant Distribution, the Company has received several inquiries from shareholders, questioning the manner in which the Warrants will be distributed to the shareholders, so it is making this release in an attempt to respond to those inquiries.
As a reminder, the general terms of the Warrant Distribution provide that the Company’s shareholders of record as of the close of trading on April 1, 2021, the record date for the Warrant Distribution, will receive 0.10 of a Warrant for each share of the Company’s common stock held as of the record date. Fractional Warrants will not be issued. Instead, if any fractional Warrant would otherwise be required to be issued, the relevant Warrant holder will receive a number of Warrants that shall be rounded up (if the number is .5 or above) or down (if the number is less than .5) to the nearest whole number. The current payment date for the Warrant Distribution is April 8, 2021. Each full Warrant will represent the right to purchase one share of common stock for cash at an exercise price of $2.75 per share. The Warrants may be exercised on any business day prior to 5:00 p.m., New York City time, on April 8, 2023.
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.
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