COCONUT CREEK, Fla. , Jan. 10, 2019 (GLOBE NEWSWIRE) -- Global Consortium, Inc. , (OTCPINK: GCGX) and Trans Global Group, Inc. (USOTC: TGGI) rescinded their transaction effective December 31, 2018 .
Global Consortium will assign all rights to the device to Trans Global Group, Inc. (USOTC: TGGI) in exchange for the cancelation of Trans Global's 60 million shares of GCGX Outstanding Common stock.
TGGI will receive additional support in rolling out the device through Global's existing distribution network of over 400 locations.
Global Consortium has agreed to pay $120,000 to TGGI over 12 months beginning March 1, 2019 .
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, release of corporate apps, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk. Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure on otcmarkets.com.
For additional information about this release please contact: Investor Relations:
Matt Dwyer matt@cannabisconsortium.net www.cannabisconsortium.net
Twitter: @Global_GCGXOTC 954-906-0098
