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GBLT's Solar Energy Business Receives over 200 Orders Valued at Over $5.5 Million

TORONTO and DUREN, Germany, Nov. 17, 2022 /CNW/ - GBLT Corp. (TSXV: GBLT) ("GBLT" or the "Company") is pleased to announce that it has received over 200 orders for its Solar Energy solutions with retail household clients for a total value of over €4,000,000 (CAD ~$5,500,000). The individual contracts are an indication of the abundance of demand for GBLT's full buildout of solar powered solutions to household and residential buildings.

"The market for renewable energy is in its highest demand we have ever experienced and have been boosted by Germany's clean energy mandates, high energy prices as well as the growing energy shortage in Europe," said Dr. Thilo Senst, CEO of GBLT Corp. "We continue to experience an abundance of demand for our solar energy solutions from both commercial and private households and we are seeing this trend accelerating. We currently have over 200 outstanding orders to manage in our Solar Energy business pipeline and this number is growing daily. We are pleased to be one of the premier solutions to the energy needs of the consumers in Germany and will continue to work diligently to continue growing our workforce to capitalize on the large opportunity that lays ahead for the foreseeable future."

*Exchange rate 1.38 CAD/EURO (2022-11-15) as per https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates/


About GBLT:

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.

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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View original content: http://www.newswire.ca/en/releases/archive/November2022/17/c0891.html