TORONTO and DUEREN, Germany, Jan. 7, 2021 /CNW/ - GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that one of Europe's largest retailers has placed a second order of €770,000 for Dr. Senst thermometers, to be delivered in February 2021. This large retailer has now ordered a total of €1.47 million Dr. Senst branded thermometers with revenue to be recognized by GBLT in Q1'21.
This follow-on order is for retail locations in another European region that was not included in the initial order. The Company continues to anticipate additional follow-on orders from this client as GBLT is able to deliver additional units to regions that are not currently carrying the Dr. Senst brand. GBLT continues to deliver masks to this retailer and retailers throughout Europe.
"We are pleased to announce this follow-on order from one of Europe's largest retailers, further cementing GBLT as a trusted partner of this company," stated Dr. Thilo Senst, CEO of GBLT. "This is only the second region that we will be delivering our thermometer solution for this retailer and believe we will continue to add locations throughout the course of this year, given the strong demand we are seeing. As countries around Europe enter second waves of lockdowns and on the heels of new variants of COVID-19, Personal Protective Equipment (PPE) will be important for front-line workers but also the general public. Accordingly, we believe demand for the Dr. Senst brand will continue to grow over the coming year and well into the future as we enter a new normal, where PPE will become part of everyday life."
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.
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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