TORONTO and DUEREN, Germany, Feb. 18, 2021 /CNW/ - GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that it has received a follow-on order of USD $2.7 million from one of Europe's biggest mass merchandisers to provide private label batteries. This merchandiser had previously placed an order for USD $4.8m as announced on January 21st, 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, CEO of GBLT Corp. "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."
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.
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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