TORONTO and DUREN, Germany, Nov. 8 2022 /CNW/ - GBLT Corp. (TSXV: GBLT) ("GBLT" or the "Company") is pleased to announce that it is continuing to receive orders for their Dr. Senst personal healthcare product line from major European retailers. This current order amounts to €825,223 (~$1.1 million CAD)* for the 2023 pipeline. This order is in addition to an already received order of €809,162 ($1.09 million CAD) from earlier this year making the cumulative amount to €1,644,385 (~$2.2 million CAD) to be delivered to the client starting January 2023.
"We continue to significantly increase our shelf presence in this International Retailer, as our Dr. Senst brand within the healthcare consumer market continues to be trusted and demanded by consumers," said Dr. Thilo Senst, CEO of GBLT. "Despite the economic volatility in Europe and the world today, GBLT products are continuing to experience an abundance of demand due to its quality and price advantage over other competitor products. The international retailer remains a stable source of sticky, high margin income which has been an important source of our growth over the past few years. We continue to expand our business product lines and will continue to meet the increase demand for our Dr. Senst personal healthcare products to continue driving significant growth in our sales and profitability for this year and next."
*Exchange rate 1.34 CAD/EURO (2022-11-03) 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.
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(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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