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TORONTO and DUEREN, Germany, June 29, 2021 /CNW/ - GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that it has expanded its licensee agreement with AgfaPhoto Holding GmbH ("AgfaPhoto") to allow GBLT to provide AgfaPhoto's entire suite of mobile energy and storage solutions products globally. As a result of overwhelming demand for AgfaPhoto products delivered to GBLT customers in Europe, AgfaPhoto has extended the term of the license to December 31, 2026 that was initially scheduled to terminate at the end of 2022 while expanding the scope of the agreement to cover the entire globe in addition to increasing the range of products that can be sold by GBLT.
Under the AgfaPhoto brand, GBLT now has the most unique and advanced mobile energy product line globally. Beginning July 1st, 2021, GBLT customers will have access to AgfaPhoto's full suite of mobile energy and storage solutions. In addition, the Company will see an increase in gross margin from mobile energy and storage solutions as a result of the new agreement that entails a lower licensing fee and higher margin products.
"GBLT has developed a robust supply chain infrastructure in many global regions that gives us the confidence to grant them our widest scoped global agreement for mobile energy solutions," said Marc M. Bamberger, Managing Director at AgfaPhoto. "Over the past number of years, we have been truly impressed by GBLT's product quality and they have demonstrated true stewardship of what we represent as a global brand."
"We are thrilled to expand our partnership with AgfaPhoto that positions GBLT as a global leader in mobile energy and storage solutions," said Dr. Thilo Senst, Founder and CEO of GBLT Corp. "Expanding our agreement not just from a product perspective but to allow us to deliver solutions globally, will enable GBLT to further entrench itself as a global organization with clients that are among the largest retailers in the world. As the need for mobile energy solutions continues to grow and the industry continues to consolidate having a wide variety of solutions under one brand name while also facing less competition will improve GBLT's standing in the industry."
GBLT Corp., through its operating company, GBT GmbH, designs, manufactures and supplies mobile storage, battery and personal protection equipment to some of the largest retail chains across the globe. GBT is also an official licensee for Kodak mobile storage systems and AGFAPHOTO mobile energy products. The Company's personal protection equipment is primarily sold throughout Europe under Dr. Senst brand, which is owned and operated by GBT GmbH.
Forward - Looking Information
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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