Global Tech Industries Group, Inc.
Under the Symbol:
GTII Acquires Restaurant and Catering Business in Hong Kong
Thursday, January 5, 2017 10:00 AM
NEW YORK, NY / ACCESSWIRE / January 5, 2017 / Global Tech Industries Group, Inc. (OTC PINK: GTII), ("GTII") formerly known as Tree Top Industries, Inc. (OTC:TTII), a Nevada corporation, has announced a stock purchase agreement, which was signed and closed on December 30, 2016 in Hong Kong, with GoFun Group, Ltd. ("GoFun") through its wholly owned subsidiary Go F & B Holdings, Ltd. The result is that GoFun, through its subsidiary, has successfully taken its four restaurants public, as a wholly owned subsidiary of GTII. Further, pursuant to the stock purchase agreement, two members of GoFun's executive management, will be added as directors to the GTII board of directors. An 8-K filing, disclosing this event will be forthcoming. Mr. David Reichman, CEO and Chairman of GTII, expressed confidence that the agreement is in the best business interests and goals of both organizations.
Global Tech Industries Group, Inc. (GTII) is a publicly traded holding company, with subsidiaries and affiliates that hold intellectual properties, proprietary systems, and trade secrets in the bioscience, clean tech, and global health industries, as well as interests in energy-related businesses, and restaurant services. For more information on Global Tech Industries Group, Inc., see our website: www.GTII-US.com or contact Mr. Mike King of Princeton Research Inc. at 702.650.3000.
GoFun Group, Ltd. is a privately held company, running a casual dining restaurant business based in Hong Kong. The company employs an integrated O2O (online-to-offline, and offline-to-online), with a central kitchen foundation that finds consumers online and brings them to a 'real world' food-tasting and pickup location as well as to their restaurants. The company uses the dining and free food tasting experience to bring more customers in to buy various food products, online. The O2O effort ultimately will lead to the company being a broader commerce supply-chain facilitation company.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates", "projects" "will", or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
SOURCE: Global Tech Industries Group, Inc.