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GBLT Corp
Symbol GBLT
Shares Issued 113,328,091
Close 2023-03-22 C$ 0.09
Market Cap C$ 10,199,528
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GBLT signs $6.6M Afgaphoto distribution agreement

2023-03-23 10:46 ET - News Release

Dr. Thilo Senst reports

GBLT CONTINUES GLOBAL EXPANSION BY SIGNING A DISTRIBUTION AGREEMENT WITH AN EXPECTED TOTAL VOLUME OF EUROS4.5 MILLION ($6.6 MILLION CAD) WITH ONE OF NORDIC'S LARGEST CONSUMER IMAGING DISTRIBUTOR

GBLT Corp. has signed a distribution agreement with a major consumer imaging distributor in the Nordic region for a minimum expected order volume of 4.5 million euros ($6.6-million) to provide Afgaphoto portable energy solutions over four years and in locations in eight countries, including Sweden, Denmark, Finland and more.

"We continue to focus on scaling our operations in all major European markets and are pleased to announce this new multiyear relationship with one of the largest distributors in photography and video equipment in the European market today," said Dr. Thilo Senst, chief executive officer of GBLT. "Retailers and distributors in Europe are realizing the value proposition we provide by delivering high-quality products at affordable prices. As the retail market is currently dealing with high manufacturer prices, the quality and affordability of our products are the main catalysts that retailers and distributors consider when deciding on their inventory and shelf space placements. We are pleased to engage in a new long-term relationship with this distribution partner and we look forward to expanding our offerings over time as we did with many of our long-term clients."

Dr. Senst continued: "We are continuing to develop relationships with large stable retailers and distributors and look forward to creating further business development opportunities with our new and existing clients alike. We are very excited for what the 2023 pipeline holds as we continue to receive large orders from multiple clients and are continuing to expand both geographically and in volume size. We look forward to continuing to expand our revenue streams to appropriately mitigate future risks and volatility while maximizing our bottom-line margins and value to our shareholders."

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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