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GBLT Corp
Symbol GBLT
Shares Issued 113,047,839
Close 2021-02-18 C$ 0.285
Recent Sedar Documents

GBLT receives $2.7M (U.S.) follow-on battery order

2021-02-18 11:13 ET - News Release

Dr. Thilo Senst reports

GBLT CORP. RECEIVES USD $2.7 MILLION FOLLOW-ON ORDER FROM EUROPEAN MASS MERCHANDISER FOR PRIVATE BATTERY LABEL

GBLT Corp. has received a follow-on order of $2.7-million (U.S.) from one of Europe's biggest mass merchandisers to provide private-label batteries. This merchandiser had previously placed an order for $4.8-million (U.S.) as announced on Jan. 21, 2021, and has now placed a follow-on order due to overwhelming customer demand.

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.

"Demand for private-label batteries has vastly exceeded our expectations in the early parts of 2021 as mass merchandisers are seeing unprecedented demand for mobile energy products in the face of lockdowns," said Dr. Thilo Senst, chief executive officer of GBLT. "With smaller retailers unable to remain open due to lockdown restrictions, GBLT's client list of large big-box retailers has seen an increase in demand for these products even well beyond what they had initially planned for. We anticipate continued growth in demand for our products well into the future for our AgfaPhoto branded mobile energy solutions."

About GBLT Corp.

GBLT, 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 the Dr. Senst brand, which is owned and operated by GBT GmbH.

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