Two Hands reviews unsolicited GBT share-swap proposal

Executive Summary

• Two Hands Corp. confirms receipt of an unsolicited, non-binding proposal from GBT Technologies Inc. for a potential share-for-share transaction.
• GBT Technologies is a development-stage technology company focused on AI, IoT, mesh networking, computer vision, and cybersecurity, trading under the ticker GTCH on OTC Markets.
• Two Hands Corp. states that the board of directors, along with financial and legal advisers, will evaluate the proposal to determine the best course of action for stakeholders, with no assurance that a transaction will result.

Key Details

• Proposing Entity: GBT Technologies Inc. (Ticker: GTCH, Exchange: OTC Markets).
• Target Entity: Two Hands Corp.
• Transaction Type: Unsolicited, non-binding proposal for a potential share-for-share transaction.
• GBT Technologies Business Focus: Researching, developing, and commercializing patents and intellectual property in artificial intelligence, Internet of Things (IoT), mesh networking, computer vision, and cybersecurity.
• Company Status: Two Hands Corp. is a publicly traded company operating in the Canadian and US markets, focusing on the consumer non-cyclical sector, specifically food retail and distribution services for over 15 years.
• Next Steps: The board of directors will evaluate the proposal with financial and legal advisers; further comments will be made when appropriate.

Notable Quotes

• "The proposal was not solicited by the company and, at this stage, does not constitute a formal offer to the company's shareholders."
• "There can be no assurance that any transaction will result from this unsolicited approach."