Global Tech Industries Group Inc (GTII)

[Wobby]

Global Tech Industries Group, Inc’s. completes acquisition of Classroom Salon, LLC.

https://www.nasdaq.com/press-release/global-tech-industries-group-incs.-completes-acquisition-of-classroom-salon-llc.-2022

New York, NY, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that Classroom Salon, LLC, (“Classroom Salon”) has successfully completed the requisite audit of its financial statements. In addition, Classroom Salon has delivered to the Company an Amended and Restated License Agreement with Carnegie Mellon University. Previously, on January 18, 2022, GTII’s subsidiary Classroom Salon Holdings, LLC (“Classroom Holdings”) executed agreements for the acquisition of Classroom Salon. All members of Classroom Salon, including Carnegie Mellon University, in partnership with whom the Classroom Salon software was originally developed, executed the purchase and assignment agreements. As a result of the successful completion of these three events, Classroom Salon is now a wholly-owned subsidiary of Classroom Holdings, a wholly-owned subsidiary of GTII.

David Reichman, GTII’s Chief Executive Officer, stated “Now that this deal has been successfully closed, our team can focus its time and efforts on introducing Classroom Salon’s software to a wider audience and larger client base. We believe that the benefits of virtual learning through its workflows and algorithms is immeasurable, and we are thrilled to be part of it.”

Tommy Wang, Classroom Salon’s President, stated, “We would also like to acknowledge the Classroom Salon team, who, along with GTII, has worked tirelessly to bring this new partnership about. The education ecosystem we are introducing should allow for operation in a fully virtual environment, and the implications of that for both students and educators could be dramatic, as student experience continues to be enhanced in real time.”