Published on December 26, 2022
NEW YORK, Dec. 27, 2022 /GLOBE NEWSWIRE/ -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII”), and Creatd, Inc. (CRTD: OTCQB) (“Creatd”), today announced that they have formally begun discussions to explore synergies, including a potential merger. Final agreements will be subject to financing, due diligence, breakup fees, and regulatory approval, as well as by the boards and shareholders of both parties. Both companies expect that their stocks will be retired and exchanged for shares in a NewCo with a new CUSIP, with the intent to eventually be listed on a national exchange. Creatd intends on completing its spinoff of its media subsidiary OG Collection Inc. GTII remains committed to its acquisition of 1-800-Law-Firm (“1-800”), pending due diligence and 1-800’s audit.
CRTD Chairman and CEO Jeremy Frommer, stated, “I believe we have a compelling opportunity to combine these two companies. I am particularly excited by the idea that this may be a unique situation where, both technically and fundamentally, the whole is greater than the sum of its parts. I look forward to working with David and his team.”
GTII Chairman and CEO David Reichman, added, “We view this potential combination as a bold move toward creating more value for our shareholders. Jeremy and his team bring the knowledge and wherewithal to help GTII meet its long stated goal of being listed on a national exchange.”
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