TORONTO and DUEREN, Germany, April 20, 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 $20.4 million from a global mass merchandiser to become the exclusive provider of private label batteries over a period of three years. This global merchandiser most recently purchased a combined $7.5 million in private label batteries, as previously announced on January 21st, 2021 and February 18th, 2021.
With 360,000 employees globally and €63 billion in annual turnover, this client is one of the largest retailers globally.
"This is a milestone win for our company and highlights the global reputation GBLT has established as one of the premier vendors for products ranging from mobile storage and batteries to PPE," said Dr. Thilo Senst, Founder CEO of GBLT. "Retailers around the globe entrust GBLT to deliver high quality products on time and at competitive prices, and this contract announcement is more evidence of yet another retailer's commitment to GBLT. We are seeing increased demand for all of our products, which is a direct function of being a listed vendor in these major retailers. We have still barely scratched the surface of our potential within these clients and are extremely excited about the prospect of future business opportunities."
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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GBLT Corp., Dr. Thilo Senst, CEO, Tel.: +49(0)2421-20856-0, Email: firstname.lastname@example.org; Investor Relations: Virtus Advisory Group, Tel: 416-644-5081, Email: email@example.com