Global Consortium, Inc., Issues Corporate Update

COCONUT CREEK, Fla., Oct. 27, 2020 (GLOBE NEWSWIRE) -- Global Consortium, Inc., (OTCPINK: GCGX) would like to announce major changes taking place within the company.
Our Current CEO Matthew Dwyer, is stepping down and will have no further involvement with the Company effective sometime in January of 2021 due to health reasons.The Company has been actively looking for a new CEO to take over in January when Mr. Dwyer steps down. The main concern of potential replacements is that GCGX is not audited. This will need to be addressed prior to anyone willing to assume the position.Over the new next two months GCGX will be working with an accountant who previously worked on getting the 2015-2017 financials of GCGX audited. Since he is familiar with the Company, we hope to have the financials audit ready before the end of the year. The new CEO will oversee the audit and registration of GCGX.In order to get the Company ready for an audit or registration, GCGX needed to take care of some open Corporate issues. GCGX has filed to raise the Authorized with the State of Nevada so that the Series A Preferred can be converted to Common stock. The conversion was to take place immediately after the Merger in October of 2018. There are also shareholders that have not presented their old shares for exchange with GCGX shares, therefore GCGX shares have to be held in a??reservea?? to allow them to complete the exchange.
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