New York, NY, Might 26, 2022 (Globe NEWSWIRE) — World Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada company, introduced today that it has entered into a expression sheet with Wildfire Media Corp., owner of the 1-800-Regulation-Business brand (“Wildfire Media”), which outlines sure added phrases of the proposed acquisition of Wildfire Media by GTII.
Pursuant to the term sheet, the events are anticipating a obtain selling price of $100-$120 million for a 100% curiosity in Wildfire Media, which would be compensated in restricted shares of GTII prevalent inventory once a third-occasion valuation has been attained. Wildfire Media will pay out for and present an audit of its books for the intervals ended December 31, 2020, December 31, 2021, and all applicable stub periods, which complies with PCAOB necessities and is suitable to GTII as a closing ailment.
Definitive agreements are predicted pursuing GTII’s overview of Wildfire Media’s current and audited economical statements for the relevant periods and concluded its owing diligence.
David Reichman, Chairman and CEO of GTII stated, “When we commenced our discussions with Wildfire Media and 1-800-Legislation-Firm back in early March, we noticed an option to companion with an corporation in the business of further growing accessibility to people today, compact corporations and other heading concerns in require of legal assistance and support rapid forward to now and I can see that 1-800-Regulation-organization is acquiring a eager comprehension of what it takes to spouse with a community entity this kind of as GTII, who can provide them the expertise, experience and general public access that should really aid their continued development and growth.”
Ari Kresch, Chief Govt Officer and Founder of Wildfire Media/1-800-Regulation-Firm mentioned, “We have manufactured progress this yr in various areas, which includes the thanks diligence procedure with GTII, and we remain assured in the extensive-expression possibilities and development that we believe that our Legal Services Group product will unlock. Our team proceeds to increase our selection of products and services offered to our shopper law companies across the nation. We give a assortment of companies to our shopper firms.”
About Wildfire Media Corp./1-800-Legislation-Business:
[insert description of business]
About Global Tech Industries Team, Inc.: GTII is a publicly traded Enterprise included in the state of Nevada, specializing in the pursuit of buying new and revolutionary technologies. Stop by GTII listed here https://gtii-us.com/.
Risk-free Harbor Ahead-Looking Statements: This push release could include ahead wanting statements that are based on latest expectations, forecasts, and assumptions that require hazards as nicely as uncertainties that could bring about true outcomes and benefits to vary materially from individuals predicted or predicted, together with statements related to the volume and timing of expected revenues connected to our financial effectiveness, anticipated cash flow, distributions, and long term progress for impending quarterly and yearly durations. These challenges and uncertainties are even further defined in filings and reports by the Corporation with the U.S. Securities and Exchange Fee (SEC). Precise outcomes and the timing of selected activities could differ materially from people projected in or contemplated by the forward-seeking statements thanks to a quantity of factors specific from time to time in our filings with the SEC. Among the other issues, the Organization may possibly not be capable to sustain growth or reach profitability based mostly on quite a few factors which include but not restricted to the threat that we will not be equipped to locate and obtain corporations and assets that will permit us to develop into rewarding. Reference is hereby manufactured to cautionary statements set forth in the Company’s most modern SEC filings. We have incurred and will go on to incur substantial fees in our progress stage, noting that there is no assurance that we will produce ample revenues to offset all those prices in each the close to and long term. New traces of enterprise may possibly expose us to extra lawful and regulatory costs and unknown exposure(s), the effects of which can not be predicted at this time.
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