Current Report Filing (8-k)
March 01 2021 - 3:19PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 1, 2021
Global
Tech Industries Group, Inc.
(Exact
name of registrant as specified in its charter)
Nevada
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000-10210
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83-0250943
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(State
or Other Jurisdiction
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(Commission
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(I.R.S.
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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511
Sixth Avenue, Suite 800 New York, NY 10011
(Address
of Principal Executive Offices) (Zip Code)
(212)
-204-7926
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each Class
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Trading
Symbol
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Name
of each exchange on which registered
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Common
Stock
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GTII
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N/A
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company
[ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01 Entry into a Material Definitive Agreement.
On
February 28, 2021, Global Tech Industries Group, Inc., (“GTII”
or the “Company”), a Nevada corporation, focused on acquiring new and innovative technologies in diverse
industries, signed a stock purchase agreement with Gold Transactions International, Inc. (“GTI”), a Utah
corporation involved in the business of buying and selling gold on a global basis. The agreement (“Agreement”)
was signed and closed electronically. Pursuant to the Agreement, GTII acquired 100% of the total issued and outstanding
common stock of GTI in consideration for the issuance by GTII to the shareholders of GTI of a total of 6,000,000 shares of
GTII common stock, subject to escrow. GTI owns potentially valuable licensing rights to participate in a private network of
affiliates that are members of the Dubai Multi Commodities Center (“DMCC”). The private network of affiliates
operating in the DMCC acquire raw gold from a variety of small miners throughout the world and transport it to Dubai for
processing, assaying, refining, and storing for eventual sale. GTI’s affiliates have been in operation in the DMCC,
buying and selling gold for over six years. GTI’s license will give us operational access to the DMCC services through
capital infusion by us into the network. There is no assurance as to if and when GTII or GTI will be able to raise capital to
infuse into the network. A copy of the signed Agreement is attached to this report as exhibit 10.1.
Item
2.01 Completion of Acquisition or Disposition of Assets.
Reference
is hereby made to Item 1.01 for description and copy of the Agreement.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
March 1, 2021
GLOBAL
TECH INDUSTRIES GROUP, INC.
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/s/
David Reichman
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By:
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David
Reichman
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Title:
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Chairman
and CEO
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EXHIBIT
INDEX
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