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GBLT to Postpone Filing of 2019 Financials and MD&A

DUEREN, Germany, April 24, 2020 (GLOBE NEWSWIRE) -- GBLT Corp. (“GBLT” or the “Company”) ‎‎(TSXV:GBLT; ‎‎OTCQB:GBLTF; FSE: 4G9), announces that due to logistics ‎and delays caused by the COVID-19 virus, it is relying on the exemption ‎provided in Ontario Instrument 51-502 - ‎Temporary Exemption from Certain Corporate Finance ‎Requirements (the “Ontario Instrument”) ‎of the Ontario Securities Commission (and similar exemptions ‎provided by the securities commissions in British ‎Columbia, Alberta and Saskatchewan) to ‎postpone the filing of its annual audited financial statements for the year ended December ‎‎31, 2019, ‎as required by section 4.2 of National Instrument 51-102 - Continuous Disclosure ‎‎Obligations (“NI 51-102”), and its related management discussion & analysis for the year ended December ‎‎31, 2019, ‎as required by section 5.1(2) of NI 51-102 (collectively, the “Annual Documents”).

According to the Ontario Instrument, during the period from March 23, 2020 to ‎June 1, 2020, a person or ‎company required to make certain filings as described in the Ontario Instrument has an additional 45 ‎days from the deadline otherwise applicable ‎under Ontario securities laws to make the filing. GBLT expects to file the ‎Annual Documents by no later than the extended deadline of June 15, 2020.‎

Until the ‎Company has filed the Annual Documents, members of the Company’s ‎management and other insiders will ‎observe a trading blackout consistent with the principles in ‎Section 9 of National Policy 11-207 - Failure-‎to-File ‎Cease Trade Orders and Revocations in ‎Multiple Jurisdictions.‎

GBLT confirms that, other than disclosed in prior press releases, there have been no material ‎business developments since the filing on November 27, 2019 of the Company’s latest ‎interim ‎financial reports for the period ended September 30, 2019‎.

For further information please contact:‎

GBLT Corp.‎
Dr. Thilo Senst, CEO
Tel.: +49(0)2421-20856-0‎
Email: investor@gbltcorp.com

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.‎

Forward-Looking Information

This news release contains “forward-looking information” within the ‎meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, ‎included herein are forward-looking information. In particular, this news release contains forward-looking ‎information regarding: the filing of the Annual Documents, including the timing for the filing of the Annual Documents. There can ‎be no assurance that such forward-looking information will prove to be accurate, and actual results and future ‎events could differ materially from those anticipated in such forward-looking information. This forward-looking ‎information reflects GBLT’s current beliefs and is based on information currently available to GBLT and ‎on assumptions GBLT believes are reasonable. These assumptions include, but are not limited to: the ability of ‎GBLT to complete the Documents in the noted timeframe. Forward-looking information is subject to known ‎and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance ‎or achievements of GBLT to be materially different from those expressed or implied by such forward-looking ‎information. Such risks and other factors may include, but are not limited to: general business, economic, political ‎and social uncertainties; general capital market conditions; delay or failure to receive board approvals; and risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession. A ‎description of additional risk factors that may cause actual results to differ materially from forward-looking ‎information can be found in GBLT’s disclosure documents on the SEDAR website at www.sedar.com. ‎Although GBLT has attempted to identify important factors that could cause actual results to differ materially ‎from those contained in forward-looking information, there may be other factors that cause results not to be as ‎anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. ‎Readers are further cautioned not to place undue reliance on forward-looking information as there can be no ‎assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking ‎information contained in this news release is expressly qualified by this cautionary statement. The forward-looking ‎information contained in this news release represents the expectations of GBLT as of the date of this news ‎release and, accordingly, is subject to change after such date. However, GBLT expressly disclaims any ‎intention or obligation to update or revise any forward-looking information, whether as a result of new information, ‎future events or otherwise, except as expressly required by applicable securities law.‎