TORONTO and DUEREN, Germany, Sept. 15, 2020 /CNW/ – GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) (“GBLT” or the “Company”) is pleased to provide an update on its business operations and corporate strategy.
As a result of the COVID-19 pandemic, GBLT entered into the Personal Protective Equipment (“PPE”) industry in March of this year to match demand from existing and new clients for products such as masks, sanitizers and thermometers. Due to sustained demand from the existing distribution network, GBLT has relaunched its Dr. Senst brand of products to offer distributers and retailers a branded, trusted solution.
The Company has been delivering PPE supplies since March 2020 which has seen material impact on revenues in the second quarter of 2020. The first line of products has been primarily protective facemasks however the Company will be launching lines of thermometers and other protective gears in the coming weeks.
“Demand for PPE products has far exceeded our expectation in the first half of 2020 and we quickly realized that the changing global environment has created a consistent need for these types of products for both personal use and within the workplace,” said Dr. Thilo Senst, CEO of GBLT Corporation. “Being a trusted supplier of mobile energy solutions for many years and through having established relationships with distributors and retailers throughout the world, these groups were quick to look to GBLT to source PPE products. We were quick to react to this opportunity and believe this is a vertical that will remain an important segment of our business going forward.”
In addition to the launch of the Dr. Senst brand, the Company remains focused on its reseller strategy related to mobile energy storage and battery products.
In July 2020, GBLT in partnership with AgfaPhoto launched a new professional line of battery products to target commercial battery users.
The Company continues to expand its product offerings of mobile storage and battery solutions with several new product lines expected to hit shelves in October 2020. This includes the launch of multi-media products not previously offered by GBLT and in partnership with a global brand.
“Our mobile energy and battery storage business continues to remain strong as we work to deliver both private label and GBLT branded products to our existing network,” continued Dr. Thilo Senst. “The need for these products will continue to grow for both recreational and commercial purposes with little impact from the COVID-19 pandemic. We continue to seek out new distributers where we can offer our listed products while also focusing on attractive new markets where we generate a positive material impact on revenue and profitability.”
GBLT, indirectly through its operating company, GBT GmbH, is a diversified lighting and battery company and the official licensee for Polaroid light products (LED and all other lighting technology including retail and projects), Polaroid energy storage systems (mobile and fixed systems), and AGFAPHOTO mobile energy products (such as batteries).
GBT is focused on capitalizing on the current global trends in the rapidly growing energy storage and lighting sectors through the branding, sale and distribution of electronic products, including some under private labels, for residential and commercial markets. Through its licensing and branding partnership with Polaroid for lighting and mobile energy storage products, GBT has an immediate focus on launching its line of energy storage products in Europe, North America and internationally. GBT is also pursuing various large global commercial lighting projects.
For further information please contact:
Dr. Thilo Senst, CEO
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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(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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