New York, March 26, 2021 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, a Nevada Corporation, signed a Letter of Intent (“LOI”) with Ronald Cavalier. Mr. Ronald Cavalier founded Cavalier Galleries Inc. in Stamford, Ct. in 1986 www.cavaliergalleries.com., a world-renowned group of four art galleries, with locations in Greenwich, CT, New York City, Nantucket Island, and Palm Beach, FL. The contemplated collaboration with GTII will allow him the platform to utilize his decades of experience in the art world to bring together the most respected curators and artists, both internationally acclaimed and emerging, to participate in this exciting new marketplace. He is very excited to be part of this new venture to create a Non-fungible Token (“NFT”) www.wikipedia.org/wiki/Non-fungible_token marketplace for museum quality curated art. Mr. Cavalier is currently in the process of choosing and further developing a social media platform that will allow him to continue representing his world-class roster of artists in the digital art space where their work will be sold exclusively on the Cavalier platform. The Letter of Intent, the details of which have not yet been publicly disclosed, will give both parties sixty days to perform the necessary mutual due diligence to finalize the details of the new business structure.
The Cavalier Family has a long and distinguished history and connection to the world of fine art. Mr. Cavalier, Sr. was responsible for restoring the sculpture at the Hirschhorn Estate, prior to it being delivered to the Smithsonian Institution’s new art museum. Mr. Cavalier developed his passion for art and art collecting at a young age watching his father work, and in 1986, opened his first gallery with the premier exhibition ‘Seven Woman Artists’. He followed with many notable exhibitions over the years, which led to the creation of the Cavalier Sculpture Garden, and in 1993 the nationally acclaimed exhibition Stamford Sculpture Walk, a program dedicated to public interaction, education, enrichment and enjoyment. Cavalier’s involvement with the Stamford Sculpture Walk culminated in 1999 with the exhibition, ‘Important Sculptors of the Late Twentieth Century’, which included major works by artists such as Moore, Botero, Smith, Oldenburg, Segal and Nevelson. Over the following two decades, Mr. Cavalier developed relationships with a world-class group of painters, sculptors and photographers. Works by the artists represented by Cavalier Galleries Inc. today, collectively, have either been exhibited at or are in the permanent collections of most major museums in the United States, Europe and Asia.
GTII’s Chief Executive Officer, Mr. David Reichman stated, “This may be the company’s most exciting potential partnership and business combination yet. GTII can afford Mr. Cavalier the depth of our understanding of the public market as he moves forward into the digital art space, using the NFT’s which we believe are at the forefront of the digital currency industry.”
Ron Cavalier, Founder and President of Cavalier Art Galleries added, “We are at a historic time in the artworld, as a new artform supporting the collectors’ market has emerged. It’s a generational opportunity for artists and we are excited to work with GTII to create the platform that will allow them to present their NFTs to world”.
About Global Tech Industries Group, Inc.: GTII is a publicly traded company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
Please follow our company at: www.otcmarkets.com/stock/GTII
Safe 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.
Blaine Riley – br@intlmonetary.com
International Monetary
620 Newport Center Drive, #1100
Newport Beach, CA 92660
949.200.4601