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GBLT Corp
Symbol GBLT
Shares Issued 113,047,839
Close 2021-01-21 C$ 0.375
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ORIGINAL: GBLT Corp. Receives USD $4.8 Million Contract With European Mass Merchandiser for Private Battery Label

2021-01-21 09:26 ET - News Release

GBLT Corp. Receives USD $4.8 Million Contract With European Mass Merchandiser for Private Battery Label

Canada NewsWire

TORONTO and DUEREN, Germany, Jan. 21, 2021 /CNW/ - GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that it has received an order of USD $4.8 million from one of Europe's biggest mass merchandisers to provide private label batteries. This merchandiser had previously been a client of GBLT's however this is the first time they have selected GBLT as a vendor without having an open tender process.

In addition to AgfaPhoto branded batteries and mobile energy products, GBLT delivers private label batteries that vendors can brand their own. This is often done to provide an alternative to more expensive, brand-named batteries for consumers that are seeking a cheaper product. This allows retailers to solidify their own brand awareness with consumers.

"We continue to see success with our mobile energy and battery traditional business even as we rapidly expand our product offerings to include Personal Protective Equipment," said Dr. Thilo Senst, CEO of GBLT. "The current economic environment has resulted in many companies having supply chain issues and being unable to deliver their products either on time or even at all. As a result of our superior supply chain, long-standing relationships, and years of experience, our clients look to GBLT as a key supplier that can deliver products with certainty."

About GBLT:

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.

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.

View original content: http://www.newswire.ca/en/releases/archive/January2021/21/c1407.html

Contact:

GBLT Corp., Dr. Thilo Senst, CEO, Tel.: +49(0)2421-20856-0, Email: investor@gbltcorp.com; Investor Relations: Virtus Advisory Group, Tel: 416-644-5081, Email: info@virtusadvisory.com

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