Global Consortium, Inc. to retire 60
million shares of its Outstanding Common stock
-
Rescinds transaction with Trans Global Group
-
Assigns all rights to the device for return of the
shares
-
Agrees to assist in distribution
Coconut Creek, FL
-- January 10, 2019 --
InvestorsHub NewsWire -- Global Consortium, Inc., (OTCPINK:
GCGX)
and Trans
Global Group, Inc. (OTC:
TGGI) rescinded
their
transaction effective
December
31, 2018.
Global Consortium
will assign all rights to the device to Trans Global Group, Inc.
(OTC:
TGGI)
in exchange for the cancelation of Trans Global's
60
million shares of GCGX
Outstanding Common
stock.
TGGI will receive
additional support in rolling out the device through Global's
existing distribution network of over
400
locations.
Global
Consortium
has
agreed to pay $120,000 to TGGI over 12
months beginning March 1,
2019.
Forward-Looking
Statements
This news release
contains "forward-looking statements" as that term is defined in
Section 27(a) of the United States Securities Act of 1933, as
amended and Section 21(e) of the Securities Exchange Act of 1934,
as amended. Statements in this press release which are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Such forward-looking statements include,
among other things, estimates
of services and equipment markets, release of corporate apps,
growth of platform, target markets, product releases, product
demand and, business strategy. Actual
results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among
others, the inherent uncertainties associated with new projects and
development stage companies. These forward-looking statements are
made as of the date of this news release, and we assume no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although we believe that any
beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no assurance that any such
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth
herein and should also consider that any investment in securities
is at risk.
Details
of the Company's business, finances, appointments and agreements
can be found as part of the Company's continuous public disclosure
on otcmarkets.com.
For additional
information about this release please contact:
Investor
Relations:
Matt Dwyer
matt@cannabisconsortium.net
www.cannabisconsortium.net
Twitter:
@Global_GCGXOTC
954-906-0098