TORONTO and DUREN, Germany, March 23,
2023 /CNW/ - GBLT Corp. (TSXV: GBLT)
("GBLT" or the "Company") is pleased to announce that
the Company has signed a distribution agreement with a major
consumer imaging distributor in the Nordic region for a minimum
expected order volume of €4.5 million ($6.6
million CAD) to provide AFGAPHOTO portable energy solutions
over 4 years and will cover locations in 8 countries including
Sweden, Denmark, Finland and more.
"We continue to focus on scaling our operations in all major
European markets and are pleased to announce this new, multi-year
relationship with one of the largest distributors in photography
and video equipment in the European market today," said Dr.
Thilo Senst, CEO of GBLT. "Retailers
and distributors in Europe are
realizing the value proposition we provide by delivering high
quality products at affordable prices. As the retail market is
currently dealing with high manufacturer prices, the quality and
affordability of our products are the main catalysts that retailers
and distributors consider when deciding on their inventory and
shelf space placements. We are pleased to engage in a new long-term
relationship with this distribution partner and we look forward to
expanding our offerings over time as we did with many of our long
term clients."
Dr. Senst continued, "We are continuing to develop relationships
with large stable retailers and distributors and look forward to
creating further business development opportunities with our new
and existing clients alike. We are very excited for what the 2023
pipeline holds as we continue to receive large orders from multiple
clients and are continuing to expand both geographically and in
volume size. We look forward to continuing to expand our revenue
streams to appropriately mitigate future risks and volatility while
maximizing our bottom-line margins and value to our
shareholders."
*Exchange rate 1.47
CAD/EURO (2023-03-21) as per
https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates/
|
About GBLT:
GBLT Corp., through its operating company, GBT GmbH, designs,
manufactures and supplies mobile storage, and battery solutions.
GBLT is also a leading provider of renewable energy solutions via
its solar division, participating in the rapidly growing solar
energy market. In addition, the Company offers consumer healthcare
and wellness products to some of the largest retail chains across
the globe. GBT is also an official licensee for AGFAPHOTO mobile
energy products. The Company's branded healthcare and wellbeing
products are primarily sold throughout Europe under Dr. Senst brand.
For more information, please visit www.gbt-international.com
and www.gbltcorp.com.
Forward-Looking
Information
Certain statements in this news release, which are not
historical in nature, constitute "forward looking statements"
within the meaning of that phrase under applicable Canadian
securities law. These statements include, but are not limited to,
statements or information concerning the Company's proposed
activities under the Agreement, the Company's ability to achieve
sales, commercial or otherwise, from its products, and the
expectations of the Company regarding funding payments due pursuant
to the Agreement. These statements reflect management's current
assumptions and expectations and by their nature are subject to
certain underlying assumptions, known and unknown risks and
uncertainties and other factors which may cause actual results,
performance or events to be materially different from those
expressed or implied by such forward looking statements. Except as
required pursuant to applicable securities laws, the Company will
not update these forward-looking statements to reflect events or
circumstances after the date hereof. More detailed information
about potential factors that could affect financial results is
included in the documents filed from time to time with the Canadian
securities regulatory authorities by the Company. Readers are
cautioned not to place undue reliance on forward looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE GBLT Corp.