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Global Tech Industries Group, Inc’s. Subsidiary and Classroom Salon, LLC’s members execute a Membership Interest Purchase Agreement

New York, NY, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that, on January 18, 2022, its wholly-owned subsidiary, Classroom Salon Holdings LLC (“Classroom Holdings”), a Delaware limited liability company, executed membership interest purchase agreements and assignments of membership interests for the acquisition of 100% of the interest in Classroom Salon LLC (“Classroom Salon”), a Pennsylvania limited liability company that utilizes interfaces, workflows and algorithms to offer educators unique tools to teach and assess their students’ course work, pending the successful completion of a two-year audit of Classroom Salon.

All members of Classroom Salon, including Carnegie Mellon University, in partnership with whom the Classroom Salon software was originally developed, executed the purchase and assignment agreements.

Previously, GTII and Classroom Holdings had agreed to engage in a business combination whereby Classroom Holdings became a wholly owned subsidiary of GTII. Pursuant to the signing of that MIPA, the members of Classroom Holdings acquired ten million (10,000,000) shares of the Company’s common stock.

David Reichman, GTII’s Chief Executive Officer, stated “This acquisition represented one of the more complex transactions that this company has ever undertaken. It shows that GTII is willing to take the necessary steps, including the creation of a new subsidiary, to get this job done. Our commitment to the cause of enabling people to improve the quality of their lives with access to some of the latest technologies in the world of virtual learning through these unique workflows and algorithms is unwavering.”

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. Visit GTII here https://gtii-us.com/.

Pease follow our Company at: www.otcmarkets.com/stock/GTII or at https://gtii-us.com/

Safe Harbor Forward-Looking Statements:
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’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.

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.

Global Tech Industries Group, Inc.
511 Sixth Avenue, Suite 800
New York, NY 10011
Info@gtii-us.com