GLOBAL TECH INDUSTRIES GROUP, INC. (OTCMKTS:GTII) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02
Global Tech Industries Group, Inc., a Nevada corporation (“GTII”), First Capital Master Advisor, LLC, a California limited liability company (“FCMA”), and GCA Equity Partners (“GCA”) (collectively, the “Parties”), having previously entered into a binding Letter of Intent, dated April 12, 2019 (“Original Agreement”), as amended on May 5, 2019. On or about December 26, 2019, the Parties mutually agreed in writing by an exchange of offer and acceptance emails to terminate the Original Agreement, as amended, for all intents and purposes, with no Party deemed to be at fault therefore, and with each Party having no further obligation to the other Party. Accordingly, the Original Agreement, as amended, is declared terminated, effective December 26, 2019.
About GLOBAL TECH INDUSTRIES GROUP, INC. (OTCMKTS:GTII)
Global Tech Industries Group, Inc., formerly Tree Top Industries Inc., is a development-stage company. The Company is engaged in acquiring companies and technologies using various business paradigms, including exchange of stock, joint venture and other partnership configurations. The Company is involved in producing oil from its oil and gas operations in the State of Kansas. The Company holds working interest in the Ownbey Oil and Gas leases in Chautauqua County Kansas. The lease has approximately 13 working wells out of a total of over 30 wells. The Company owns intellectual properties pertaining to the construction of the mobile configuration and operation of the glyd-arc medical waste destruction unit, as well as configuration and method for coal gasification. Its subsidiaries include NetThruster, Inc., BioEnergy Applied Technologies Inc., GoHealthMD, Inc., MLN, Inc., Eye Care Centers International, Inc., TTI Strategic Acquisitions and Equity Group, Inc. and TTII Oil & Gas, Inc.