- GBLT continues expansion with existing client-
TORONTO and DUEREN, Germany, March 8, 2022 /CNW/ - GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that it has received an additional order from Europe's largest retailer, and one of the top 5 largest retailers globally, for €606,000 (CDN $870,000), on top of the existing €9.9m (CDN $13.8m) anticipated revenue from this one client in calendar year 2022. The order marks continued sales of GBLT's propriety brand of Dr. Senst branded healthcare line.
The Company anticipates this order to be delivered and recognized in Q3 2022.
"More than ever, our opportunity to expand with existing retailer clients is driving phenomenal growth in our top line revenue and ultimately our profitability going forward," said Dr. Thilo Senst, CEO and Founder of GBLT Corp. "Our business is rapidly shifting towards higher margin sales from an even wider scope of solutions branded under the Dr. Senst line. When we initially penetrated these clients with the sale of masks in early 2020, we could not have envisioned how massively this brand of products would expand, and we are now delivering a variety of products, at the direct request of our growing client base, with many more products planned over the course of 2022."
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.
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