New York, NY, July 30, 2021 (GLOBE NEWSWIRE) — Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today it has entered into a binding Letter of Intent (“LOI”) with We SuperGreen Energy Corp (“WSGE”) a renewable clean energy company with its principal offices in Costa Mesa, CA.
Under the terms of the LOI, GTII and WSGE will work toward a definitive agreement whereby GTII would acquire 100% of WSGE for a mutually agreed upon number of shares of GTII’s common stock. The LOI will automatically terminate if a definitive agreement is not entered into within thirty days after the date of the LOI. Both companies believe that a transaction combining GTII and WSGE would be mutually beneficial to the companies and their respective shareholders.
GTII’s Chairman and CEO, Mr. David Reichman stated, “This has the potential to be the Company’s most exciting strategic transaction yet, as We SuperGreen has remarkable renewable energy technology and many potential deals in the pipeline”
Calvin Cao, Founder, Chairman, and CEO of We SuperGreen added, “We are planning on bringing our disruptive renewable energy technology to countries throughout the world and a potential merger with GTII could help us accelerate our growth and could enable shareholders to benefit from that growth.”
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.
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About We SuperGreen Energy
We SuperGreen Energy Corp (“WSGE”) (WeSuperGreen.com) has developed the world’s first self-charging renewable energy storage platform that produces clean, 100% renewable and sustainable electricity, utilizing its innovative and industry-disruptive patented technologies.
The self-charging renewable energy storage platform generates power at up to 99% efficiency, which is unheard of in the renewable energy sector. This is light years beyond the current standards of 20% and 40% efficiency ratings for solar and wind turbine respectively. Our cutting-edge technology is safe, reliable, cost effective and easily scalable to meet the global needs of today’s ever-changing energy landscape. We SuperGreen’s power solutions range from kilowatts to GIGA-WATTS and have applications for energy generation at the grid level as well as for electric vehicles, regardless of the type of batteries being used.
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