TORONTO and DUEREN, Germany, Nov. 8, 2023
/CNW/ - GBLT Corp (TSXV : GBLT) ("GBLT" or the
company) announces that it has entered into an agreement to
sell its 50% plus 1 interest in Gebäude Technologie Center GmbH,
Langenfeld (GeTec) at the original acquisition cost of €25,001.
Exiting the solar construction sector, will allow GBLT to focus
on its core business units. GBLT will maintain its ties to the
solar market by leveraging its strengths in procurement and
logistics, rather than construction.
"Our connection to the solar industry will remain, and we will
continue to provide product procurement and logistics for GeTec.
The areas of construction, installation and craftsmanship had
diverted us from our core competence. In order to better
participate in the growing solar market and to better utilize our
strengths, we feel it's best for the company to divest from that
sector," said Dr. Thilo Senst, CEO
of GBLT. "We will not only continue to act as a product supplier
for GeTec, but will also continue to expand our purchasing
expertise in the solar sector and make it available to other
companies".
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.