TORONTO and DUREN, Germany, Dec. 2, 2022 GBLT Corp. (TSXV: GBLT) ("GBLT" or the "Company") is pleased to announce that it has received an order for its AFGAPHOTO Products with a large e-commerce retailer as well as an additional order from a major retailer in UK for a combined order of €268,200 (~$375,480 CAD).
"With our new office in the UK, we are now well positioned to expand into the UK market and other major markets in Europe and globally," said Dr. Thilo Senst, CEO of GBLT. "The UK order is the first step towards expanding into the global stage with our diverse range of AFGAPHOTO products, specifically our higher margin lithium storage systems. The need for mobile storage and batteries products are more prevalent than ever and due to the ongoing energy crisis in Europe, we are experiencing significant growth in this vertical of our business. We will continue to seek opportunities to increase our bottom line with our growing sales in the AFGAPHOTO products, as well as our other high margin product lines. We are excited for the initial order from the UK retailer, and with the opportunities we are seeing in the market, we will continue to capitalize on the abundant demand we are experiencing for all our products. We look forward to expanding our reach within and outside the European market with all our product lines during the remainder of the year and 2023."
*Exchange rate 1.40 CAD/EURO (2022-11-29) as per https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates/
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.
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.
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