New York, Aug. 24, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “the Company”), www.gtii-us.com, a Nevada Corporation, announced today that it has entered into a definitive letter agreement (the “Letter Agreement”) with We SuperGreen Energy Corp., (“WSGE”) and the shareholders of WSGE (the “WSGE Shareholders”).
Under the terms of the Letter Agreement, GTII will acquire 100% of the issued and outstanding capital stock of WSGE from the WSGE Shareholders, which will result in WSGE becoming a wholly-owned subsidiary of GTII at the closing of the transaction, which the parties anticipate will occur on or before December 30th, 2021 (the “Closing”). The Closing is subject to customary and specific terms and conditions contained in the Letter Agreement.
At or by the Closing, GTII shall endeavor to file for an up-listing, with a symbol change, to a national exchange such as the NASDAQ or NYSE. Consistent with GTII practices, the completion of a two-year audit of WSGE shall be a condition precedent to Closing.
GTII’s Chief Executive Officer, Mr. David Reichman, stated, “We are very much looking forward to concluding our transaction with We SuperGreen. We SuperGreen’s technology has potentially transformative implications in the renewable energy space, and we are happy to participate in this unprecedented opportunity. We truly look forward to working with We SuperGreen’s revolutionary technology in an effort to bring it to various parts of the world, including expanding relationships with the United Nations and others.”
Calvin Cao, Founder, Chairman, and CEO of We SuperGreen added, “We are bringing our disruptive renewable energy technology to countries throughout the world, and we are very much looking forward to concluding our business combination with GTII, as it will help us accelerate our growth plans and enable our shareholders to benefit from that growth.”
About Global Tech Industries Group, Inc.: GTII is a publicly traded company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
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