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TORONTO and DUEREN, Germany, July 20, 2022 /CNW/ - GBLT Corp. (TSXV: GBLT) ("GBLT" or the "Company") is pleased to announce that it has successfully entered into an exclusive distribution agreement with a Portugal-based distribution partner for its Agfaphoto product line, with an expected minimum of $750,000 USD ($965,000 CAD) in the next three years. The distribution agreement grants the Company's Agfaphoto brand to gain exposure to Spain, Mozambique, and Tanzania markets.
"We are pleased to announce yet another exclusive distribution agreement shortly after the agreement to enter the Middle Eastern regions as we continue to focus on growing our presence globally," said Dr. Thilo Senst, CEO of GBLT. "We currently have three major exclusive distribution agreements in place for our Agfaphoto branded products covering the Australian, Middle Eastern, African and the European markets. Diversifying our product distribution into various regions allows us to counter act some of the market volatility faced today. For instance, countries in the African region are poised to grow economically with their raw material industry becoming more vital since the Russian-Ukraine war. The Agfaphoto product lines are a high margin, Freight on Board business with efficient scalability. Through these initial agreements, we are establishing channels to introduce other offerings including our Dr. Senst healthcare and wellbeing products. We continue to successfully engage with various organizations who recognize the quality and value behind all our product offerings and look forward to continuing with our expansion globally."
*Source https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates/ (1.29 CAD/USD as of 2022-06-29)
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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