TORONTO and DUEREN, Germany, June 20,
2022 /CNW/ - GBLT Corp. (TSXV: GBLT)
("GBLT" or the "Company") is pleased to announce that
it has secured an order for their private label battery for €4.0
million Euros ($5.4 million CAD)*
with one of the largest drugstore retailers in Europe with over 3,000 locations globally.
"We have adjusted all the pricing for the private label battery
business to accommodate the current increase in costs," said Dr.
Thilo Senst, CEO of GBLT "Despite
the significant increase in our pricing, we were able to secure a
multi-million dollar order from one of the largest drugstore
retailers in Europe. This retailer
is one of our largest customers and has been a sticky recurring
source of business for years. The quality of our products speak for
itself as the demand for our private label business is unfazed by
the increases in our pricing to accommodate the ongoing market
volatility and inflation."
*Source
https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates/
(1.345 CAD/EU Rate as of
2022-06-10)
About GBLT:
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.
Forward-Looking
Information
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.