{"id":469743,"date":"2021-04-01T09:03:30","date_gmt":"2021-04-01T13:03:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469743"},"modified":"2021-04-01T09:03:30","modified_gmt":"2021-04-01T13:03:30","slug":"global-tech-industries-group-inc-announces-update-regarding-warrant-distribution","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/global-tech-industries-group-inc-announces-update-regarding-warrant-distribution\/","title":{"rendered":"GLOBAL TECH INDUSTRIES GROUP, INC. Announces Update Regarding Warrant Distribution"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">\n        <strong>New York, April  01, 2021  (GLOBE NEWSWIRE) &#8212; (<u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Q8h0G658hWo93DK3owgk5RrUQ-ncgUQVyl-jTcGw98KKFOmaeoYD0bHzloP2UvLEZZ5H7sGFCQVpzCaWFg0NetT3V5QyFisTezWPbIy-44E=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">GTII<\/a><\/u>: OTCQB)<\/strong> Global Tech Industries Group, Inc. (\u201c<u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fO1FNJeZ2-4l3MdQo_It6gh_KDap4H2BSpAojYAzRhkpcu8F4DPQwy1lmEF-9oz48i4dEwy_x5O5nchslm5-aZFbi4gvK2d8dbvUDmr3fpM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">GTII<\/a><\/u>\u201d or \u201cThe Company\u201d), <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LSOjYfd-yX8Ly8eouaP8wtL0GGBGQjn4v6xFSzAyCDybLvO19WdlpHgr-l5dDtKLofG_bQS2SXKwLMh8eASk7w==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.gtii-us.com<\/a><\/u> announced today an update regarding its previously announced warrant distribution (the \u201cWarrant Distribution\u201d). 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.<\/p>\n<p align=\"justify\">As a reminder, the general terms of the Warrant Distribution provide that the Company\u2019s 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\u2019s 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.<\/p>\n<p>As the Warrants are not DTC eligible, they will be processed by the Company\u2019s transfer agent as follows:<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u25cf<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">All Warrants will be issued in book-entry form.<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u25cf<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">If you are a registered shareholder of the Company and hold your common stock shares, as of the record date, in certificate or book-entry form through the transfer agent you need not do anything to receive your Warrants, as the transfer agent will automatically issue your Warrants directly to your transfer agent account via book-entry.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u25cf<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">If you hold your common stock shares in \u201cStreet Name\u201d through banks, brokers or other Depository Trust Company (\u201cDTC\u201d) participants (\u201cParticipants\u201d), the transfer agent will allocate Warrants to each Participant based upon their DTC position in the Company\u2019s common stock as of the record date, which Warrants shall be issued via book-entry in the name of each Participant for the benefit of their respective beneficial holders. It shall be the responsibility of each Participant to ensure that each of their beneficial owners are properly allocated the appropriate number of Warrants from each Participants\u2019 Warrant allocation from the transfer agent.<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u25cf<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">If you hold your common stock shares in \u201cStreet Name\u201d and your Warrants have been allocated to your account by your broker, you nevertheless maintain the right to move your Warrants, at any time, to direct registration with the Company by making such request directly to your broker. Upon making such request, the transfer agent will remove your Warrants from your broker\u2019s \u201cStreet Name\u201d Warrant allocation, and you will be issued a book-entry account statement from the transfer agent reflecting your Warrant position registered directly with the Company.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Inquiries from shareholders or Participants regarding the Warrant Distribution can be directed as follows:<\/p>\n<p>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=G38IYAqu9vQBk7ZbKuFss6c-SXopedRvMgqmA1MH0i76uEHITe0OocQufruj-WvQPNH1yjkPPiaycT9mqJOfvJ3bilwpNo6VZo3v6Py_tUU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>GTII@allianceadvisors.com<\/u><\/a><\/p>\n<p>Tel: 855.200.8651<\/p>\n<p align=\"justify\">\n        <strong>About Global Tech Industries Group, Inc.:<\/strong> GTII, a publicly traded company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.<\/p>\n<p align=\"justify\">Please follow our company at: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=GKjTyDPKTeijZlOgGyzSrjQyQmkfADbQ_62cxiuRta1UhhZFpvyxESl-cIQYDA5sUw2wcxV2qwXMXgEwaNJZtdO-fgPmpj_KpRtplpke0vbWanAqCCvS9gEeQtGzFzGw\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.otcmarkets.com\/stock\/GTII<\/u><\/a><\/p>\n<p align=\"justify\">\n        <strong>Safe Harbor Forward-Looking Statements<\/strong>:<br \/>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 become profitable. Reference is hereby made to cautionary statements set forth in the Company&#8217;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.<\/p>\n<p align=\"justify\">Words such as \u201cestimate,\u201d \u201cproject,\u201d \u201cpredict,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201caim,\u201d \u201cgoal,\u201d \u201ctarget,\u201d \u201cobjective,\u201d \u201clikely\u201d 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.<\/p>\n<p>Blaine Riley \u2013 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FrARbnVcjuS8tzfSXgQUb-1SpUKdNvbNTPnQ05xduhU7ffNi38m1KNDcA2MEMuNxOPqxsf3vcnQCblFdl9mdmkBmWvUYkvlknfiD-CYrSVw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>br@intlmonetary.com<\/u><\/a><br \/>International Monetary<br \/>620 Newport Center Drive, #1100<br \/>Newport Beach, CA 92660<br \/>949.200.4601<\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIwOTk2OSM0MTAxNzY0IzUwMDAyNTU4Nw==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/3641196c-1273-44fd-8592-201971f6f034\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>New York, April 01, 2021 (GLOBE NEWSWIRE) &#8212; (GTII: OTCQB) Global Tech Industries Group, Inc. (\u201cGTII\u201d or \u201cThe Company\u201d), www.gtii-us.com announced today an update regarding its previously announced warrant distribution (the \u201cWarrant Distribution\u201d). 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\u2019s 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/global-tech-industries-group-inc-announces-update-regarding-warrant-distribution\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GLOBAL TECH INDUSTRIES GROUP, INC. Announces Update Regarding Warrant Distribution&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-469743","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GLOBAL TECH INDUSTRIES GROUP, INC. Announces Update Regarding Warrant Distribution - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/global-tech-industries-group-inc-announces-update-regarding-warrant-distribution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GLOBAL TECH INDUSTRIES GROUP, INC. Announces Update Regarding Warrant Distribution - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New York, April 01, 2021 (GLOBE NEWSWIRE) &#8212; (GTII: OTCQB) Global Tech Industries Group, Inc. (\u201cGTII\u201d or \u201cThe Company\u201d), www.gtii-us.com announced today an update regarding its previously announced warrant distribution (the \u201cWarrant Distribution\u201d). 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\u2019s 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 &hellip; Continue reading &quot;GLOBAL TECH INDUSTRIES GROUP, INC. 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Announces Update Regarding Warrant Distribution - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/global-tech-industries-group-inc-announces-update-regarding-warrant-distribution\/","og_locale":"en_US","og_type":"article","og_title":"GLOBAL TECH INDUSTRIES GROUP, INC. Announces Update Regarding Warrant Distribution - Market Newsdesk","og_description":"New York, April 01, 2021 (GLOBE NEWSWIRE) &#8212; (GTII: OTCQB) Global Tech Industries Group, Inc. (\u201cGTII\u201d or \u201cThe Company\u201d), www.gtii-us.com announced today an update regarding its previously announced warrant distribution (the \u201cWarrant Distribution\u201d). 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\u2019s 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 &hellip; Continue reading \"GLOBAL TECH INDUSTRIES GROUP, INC. 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