GBLT Received €575,000 ($828,000 CAD) Order from One of Europe's Largest Drugstore Retailers
TORONTO and DUREN, Germany, March 7, 2023 /CNW/ - GBLT Corp. (TSXV: GBLT) ("GBLT" or the "Company") is pleased to announce that the Company has received an order for a total of €575,000 ($828,000 CAD) from one of the largest Drugstore retail chains in Europe to deliver an array of the personal healthcare products and consumables. This major European retailer has been the Company longest stranding customer and has continuously increased its product purchases from GBLT since 2005.
"We are pleased to continue with our longest-standing relationship with this international retailer in providing solutions that further diversify our product offerings," said Dr. Thilo Senst, CEO of GBLT. "This international retailer is moving towards increasing its in-house brand product presence which has been a trend for major retailers in Europe recently due to the increasing prices from vendor manufacturers. Therefore, in addition to already providing our competitively priced Dr. Senst branded products to the client, we have been selected to provide their in-house brand of personal healthcare products as well. We are now being vertically integrated into the retailer's revenue structure by becoming their private label supplier, which provides us with a high margin and stable revenue stream on top of the current discussions with the international retailer to expand our Dr. Senst branded offerings."
Dr. Senst continued, "Over the years we have provided high quality products to international and local retailers, and we have continued to expand our product offerings based on the specific demands of our clients. We are very pleased with our continued expansion within our existing clients and look forward to further scaling our high margin products and efficiently diversifying our sources of revenue to face whatever volatility the future markets may bear."
*Exchange rate 1.44 CAD/EURO (2023-02-28) 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.
For more information, please visit www.gbt-international.com and www.gbltcorp.com.
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.
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SOURCE GBLT Corp.
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