New York, NY, Jan. 24, 2022 (GLOBE NEWSWIRE) — Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, today announced that, effective January 18, 2022, its subsidiary wholly-owned Classroom Salon Holdings LLC (“Classroom Holdings”), a Delaware limited liability company, has entered into Membership Interest Purchase Agreements and Membership Interest Assignments for the acquisition of 100% interest in Classroom Salon LLC (“Classroom Salon”), a Pennsylvania limited liability company that uses interfaces, workflows and algorithms to provide teachers with unique tools to teach and assess assignments of courses for their students, pending the successful completion of a two-year Classroom Salon audit.
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.
Previously, GTII and Classroom Holdings had agreed to enter into a business combination whereby Classroom Holdings would become a wholly owned subsidiary of GTII. Pursuant to the signing of this MIPA, members of Classroom Holdings have acquired ten million (10,000,000) common shares of the Company.
David Reichman, Managing Director of GTII, said, “This acquisition represented one of the most complex transactions this company has ever undertaken. This shows that GTII is ready to take the necessary steps, including the creation of a new subsidiary, to carry out this work. Our commitment to the cause of enabling people to improve the quality of their lives by having access to some of the latest technologies in the world of virtual learning through these unique workflows and algorithms is unwavering.
AAbout Global Tech Industries Group, Inc.: GTII is a publicly traded company incorporated in the State of Nevada, specializing in pursuing the acquisition of new and innovative technologies. Visit GTII here https://gtii-us.com/.
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Global Technology Industries Group, Inc.
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