22:21:23 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



GBLT Corp
Symbol GBLT
Shares Issued 113,328,091
Close 2023-11-08 C$ 0.055
Market Cap C$ 6,233,045
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GBLT to sell its interest in solar construction

2023-11-08 17:10 ET - News Release

Dr. Thilo Senst reports

GBLT FOCUSES ON ITS CORE BUSINESS AND SELLS ITS SHARES IN GEBAUDE TECHNOLOGIE CENTER GMBH, LANGENFELD

GBLT Corp. has entered into an agreement to sell its 50-per-cent-plus-1 interest in Gebaude Technologie Center GmbH, Langenfeld (GeTec), at the original acquisition cost of 25,001 euros.

Exiting the solar construction sector, will allow GBLT to focus on its core business units. GBLT will maintain its ties to the solar market by leveraging its strengths in procurement and logistics, rather than construction.

"Our connection to the solar industry will remain, and we will continue to provide product procurement and logistics for GeTec. The areas of construction, installation and craftsmanship had diverted us from our core competence. In order to better participate in the growing solar market and to better utilize our strengths, we feel it's best for the company to divest from that sector," said Dr. Thilo Senst, chief executive officer of GBLT. "We will not only continue to act as a product supplier for GeTec, but will also continue to expand our purchasing expertise in the solar sector and make it available to other companies."

About GBLT Corp.

GBLT, 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 health care 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 health care and well-being products are primarily sold throughout Europe under the Dr. Senst brand.

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