TORONTO and DUREN, Germany, March 23, 2023 /CNW/ - GBLT Corp. (TSXV: GBLT) ("GBLT" or the "Company") is pleased to announce that the Company 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 ($6.6 million CAD) to provide AFGAPHOTO portable energy solutions over 4 years and will cover locations in 8 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, multi-year relationship with one of the largest distributors in photography and video equipment in the European market today," said Dr. Thilo Senst, CEO 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."
GBLT Corp., 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 healthcare 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 healthcare and wellbeing products are primarily sold throughout Europe under Dr. Senst brand.
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.
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.
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