ToughBuilt Launches Products with Home Depot Canada and Starts Receiving Purchase Orders
August 27 2019 - 9:00AM
ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT;
TBLTU; TBLTW), a leading designer, manufacturer and
distributor of innovative tools and accessories for the building
industry, today announced it has announced it has formally
launched product sales with Home Depot Canada and started receiving
purchase orders . Home Depot Canada is one of Canada's top
home improvement retailers consisting of 182 stores. Home Depot
Canada has stores in all ten Canadian provinces and serves
Territorial Nunavut, Northwest Territories, and Yukon.
Michael Panosian, Chief Executive Officer of
ToughBuilt, commented, “We are looking forward to launching our
products within Home Depot Canada, which supplements our
established relationship with Home Depot in the U.S. We expect to
see a consistent flow of orders from Home Depot Canada over the
next year. This increases our North American and international
footprint and augments our relationship with one of the premier
home improvement retailers. We will be supplying tools and
accessories under the ToughBuilt brand. We continue to gain
traction expanding our network in the U.S. and abroad with what we
believe to be our superior quality products which continue to gain
recognition.”
About ToughBuilt Industries,
Inc.
ToughBuilt is a groundbreaking designer,
manufacturer and distributor of innovative tools and accessories to
the building industry. We market and distribute various home
improvement and construction product lines for both the
do-it-yourself and professional markets under the
TOUGHBUILT® brand name, within the global multibillion dollar
per year tool market industry. All of our products are designed by
our in-house design team. Since launching product sales in 2013, we
have experienced significant annual sales growth. Our current
product line includes three major categories, with several
additional categories in various stages of development, consisting
of Soft Goods & Kneepads and Sawhorses & Work Products. Our
mission is to provide products to the building and home improvement
communities that are innovative, of superior quality derived in
part from enlightened creativity for our end users while enhancing
performance, improving well-being and building high brand
loyalty. Additional information about the Company is
available at: https://www.toughbuilt.com .
Forward-Looking Statements
This press release contains “forward-looking
statements.” Such statements may be preceded by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Forward-looking statements are not
guarantees of future performance, are based on certain assumptions
and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company’s control, and
cannot be predicted or quantified and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, risks and uncertainties associated with (i)
market acceptance of our existing and new products, (ii) negative
clinical trial results or lengthy product delays in key markets,
(iii) an inability to secure regulatory approvals for the sale of
our products, (iv) intense competition in the medical device
industry from much larger, multinational companies, (v) product
liability claims, (vi) product malfunctions, (vii) our limited
manufacturing capabilities and reliance on subcontractors for
assistance, (viii) insufficient or inadequate reimbursement by
governmental and other third party payers for our products, (ix)
our efforts to successfully obtain and maintain intellectual
property protection covering our products, which may not be
successful, (x) legislative or regulatory reform of the healthcare
system in both the U.S. and foreign jurisdictions, (xi) our
reliance on single suppliers for certain product components, (xii)
the fact that we will need to raise additional capital to meet our
business requirements in the future and that such capital raising
may be costly, dilutive or difficult to obtain and (xiii) the fact
that we conduct business in multiple foreign jurisdictions,
exposing us to foreign currency exchange rate fluctuations,
logistical and communications challenges, burdens and costs of
compliance with foreign laws and political and economic instability
in each jurisdiction. More detailed information about the Company
and the risk factors that may affect the realization of forward
looking statements is set forth in the Company’s filings with the
Securities and Exchange Commission (SEC), including the Company’s
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Investors and security holders are urged to read these documents
free of charge on the SEC’s web site at http://www.sec.gov. The
Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new information, future
events or otherwise.
Investor Relations Contact:
Amato and Partners, LLC Investor Relations
Counseladmin@amatoandparnters.com
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