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