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TORONTO and DUEREN, Germany, July 6, 2021 /CNW/ - GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that it has received an additional order of USD $2.5m for private label batteries, deliverable in Q3 & Q4 2021, from one of the five largest drug store chains (the "Client") in the world. This is the second order from the Client in 2021 and marks a significant expansion from the initial order of USD $3.3m and significantly exceeds the expected order size.
"Global retailers significantly expanded their market share during the COVID-19 as they were able to remain open in these difficult times," stated Dr. Thilo Senst, Founder and CEO of GBLT Corp. "These store chains are GBLT's biggest clients and accordingly we have seen growth in their spend with us as consumers continue to require mobile energy and battery solutions. As a result, we are a direct beneficiary of these retailers continuing to not only maintain but capture new market share as the end consumer shows their brand loyalty to our products during this period of transition to normalcy."
Dr. Senst continued, "We continue to prove to retailers that we are able to deliver top-tier products even in difficult times. Our relationships with these companies as a listed vendor are extremely valuable and remain a key driver of our growth as an organization going forward and as we continue to deliver products believe this will further drive the strongest performance in our company history."
GBLT Corp., through its operating company, GBT GmbH, designs, manufactures and supplies mobile storage, battery and personal protection equipment to some of the largest retail chains across the globe. GBT is also an official licensee for Kodak mobile storage systems and AGFAPHOTO mobile energy products. The Company's personal protection equipment is primarily sold throughout Europe under Dr. Senst brand, which is owned and operated by GBT GmbH.
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.
View original content: http://www.newswire.ca/en/releases/archive/July2021/06/c3994.html