GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES EVALUATION OF PROPOSED STOCK DIVIDEND CONSISTING OF MANDITORILY CONVERTIBLE AND REDEEMABLE PREFERRED STOCK
09/01/2021 - 08:30 AM
New York, NY, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com , a Nevada corporation, announced today that management is evaluating a potential stock dividend to shareholders consisting of mandatorily convertible and redeemable preferred shares that are tied to a contingent interest in the Company’s health services subsidiary, which is currently being formed.
David Reichman, CEO of GTII, commented, “As we move forward with our various transactions, we are always looking for ways to implement more effective management structures, position our subsidiaries to pursue a more focused industry-specific strategy, align the risk-profile of each subsidiary to its operations and allow our shareholders to participate in any increased value that may be created by our subsidiaries. We believe our health services subsidiary requires such evaluation.”
A bout 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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Mike King
