LAS VEGAS, NV, Feb. 09, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – GZ6G Technologies Corp. (OTCQB: GZIC), an enterprise smart solutions provider for cities, stadiums, universities and other large venues, today issued a statement regarding an unauthorized stock promotion program of which it recently became aware.
The stock promotion program is being run by Markets365News, and paid for by Ads Experts Ltd. Despite its best efforts, GZ6G has been unable to find the person or persons responsible for the campaign and payment of such. The Company does not endorse, support, or encourage any third-party promotions related to the Company, its stock or its stock performance.
As a result of the campaign, OTC Markets Group added a stock promotion icon to GZ6G’s trading symbol. Pursuant to OTC’s guidance regarding “Stock Promotion: Best Practices for Issuers,” the Company has conducted a thorough investigation of its management, employees and consultants, and has determined that none have been or are currently involved in the stock promotion program, nor has any sold or purchased the Company’s securities within the period leading up to, during, or after the promotional activity. Additionally, the Company recently participated in a training session regarding information dissemination, led by PondelWilkinson, the Company’s investor relations counsel.
Further, and pursuant to OTC’s guidance, the Company directs investors to its Form S-1 Registration Statements filed with the SEC, and available at www.sec.gov. In these Form S-1 filings, the Company disclosed outstanding notes, the registration of certain securities underlying notes, and the issuance of non-registered securities.
Currently, GZ6G has an outstanding Loan Treaty with eSilkroad Networks Ltd., in the amount of $1,450,000, of which the Company has received proceeds of $1,200,000. eSilkroad is committed to funding the remaining $250,000. The $1,450,000 may be converted into common shares at $0.19 per share, pursuant to the terms of the Loan Treaty, a portion of which have been registered under the aforementioned Form S-1.
Additionally, the Company currently has an effective S-1 Registration Statement to allow it to receive funds up to the amount of $5,000,000 in exchange for shares at the purchase price of $0.30 per share. The Company has given “Put Notices” in the amount of $100,000, and 333,333 shares have been issued under this effective S-1 Registration Statement. The Company filed a second S-1 Registration Statement on January 25, 2022, wherein a number of discounted shares were registered. This S-1 is not yet effective.
Each of the S-1 Registration Statements include a table showing possible dilution of the current issued and outstanding shares of GZ6G Technologies should all of the shares that are registered be issued and/or sold.
The Company encourages investors to rely only on information that is publicly filed and released by the Company and its investor relations counsel.
About GZ6G Technologies
GZ6G Technologies provides smart digital technologies through its proprietary platform to offer 5G and Wi-Fi 6 technology applications to large venues, including stadiums and universities, and municipalities nationwide. Through a family of four business units, the Company advises on critical decisions about how best to store, process and protect data, upgrade facilities and building operations with emerging wireless and IoT applications, and help create new revenue streams and profit centers. For more information, visit www.gz6g.com.
Safe Harbor Statement
In addition to historical information, this press release may contain statements that constitute forward-looking statements, including, but not limited to, the Company’s ability to provide robust solutions to a growing customer base. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the company’s future business operations, including comments about its ability to implement strategic growth plans, and attract high-profile customers, and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse development with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found in the Company’s filings with the Securities and Exchange Commission and on the Company’s website. GZ6G Technologies denies any responsibility to update any forward-looking statements.
For more information, contact:
Coleman Smith, GZ6G Technologies Corp.
Roger Pondel/Laurie Berman, PondelWilkinson Inc.