New York, NY, Dec. 18, 2023 (GLOBE NEWSWIRE) -- (GTII: OTC) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, announced today that its board of directors has approved and authorized management to retain the services of Mr. Luke Rahbari, a managing member of Equity Armor Investments, LLC, to assist the Company’s board of directors in 2024 with re-focusing its short and long term goals, including a succession plan for its senior management. Mr. Rahbari will also assist management in assessing the status of several of its closed and still pending deals, for compliance and due diligence purposes. Mr. Rahbari will also assist GTII in its capital markets, trading and listing initiatives.
Mr. Rahbari began his capital markets career in 1993 as a derivatives trader and equity options specialist on the CBOE. In 2002, Mr. Rahbari was part of the management team involved in the sale of the firm to TD Bank. Mr. Rahbari then ran derivatives books in New York, London, and Chicago for the bank. In 2007, Mr. Rahbari became the Chief Investment Officer for Peachtree Asset Management establishing a London based Structured Settlement asset manager for Peachtree Settlement Funding, which was one of the largest originators of Structured Settlements in the world. After the sale of Peachtree, Mr. Rahbari moved to Chicago and, along with his partners, established Equity Armor Investments, an SEC registered RIA specializing in derivative and volatility strategies. Mr. Rahbari has extensive experience in the trading and capital markets and has been active in several private, non-public firms as well. Mr. Rahbari has an MBA from the University of Chicago.
David Reichman, Chairman & CEO of GTII, stated, “After discussion this fall at the board level, management believes it is in the best interest of the Company as it relates to its shareholders’ equity and its future as a public entity, to retain the services of someone with a proven track record in the all the areas of concentration listed above. We look forward to a great collaboration with Mr. Rahbari and his team as he helps take the company to the next level.”
About GTII: GTII is a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies. Visit GTII here https://gtii-us.com/.
Please follow our Company at: www.otcmarkets.com/stock/GTII
Harbor Forward-Looking Statements:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and acquire businesses and assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
Global Tech Industries Group, Inc.
511 Sixth Avenue, Suite 800
New York, NY 10011
Info@gtii-us.com
