GBLT Announces Year-End Filing Delay

TORONTO and DUREN, Germany, May 1, 2023 /CNW/ - GBLT Corp. (TSXV: GBLT) ("GBLT" or the "Company") announces that the filing of its audited consolidated financial statements for the year ended December 31, 2022, annual management's discussion and analysis for the same period, and management certificates of annual filings (collectively, the "Annual Filings") will not be completed by today's filing deadline of May 1, 2023.

The delay in completion of the Annual Filings is a result of the additional time required to complete audit procedures in respect of Gebäude Technologie Center GmbH ( GETEC Solar Solutions), an engineering company in which the Company acquired a majority stake in early 2022. 

The Company is working expeditiously with its auditors, Dale Matheson Carr-Hilton Labonte LLP, to ensure completion of the audit and filing of the Annual Filings as soon as possible. The Company anticipates that it will complete the Annual Filings on or before May 5, 2023, and will provide an update should there be any changes in the estimated timeframe for filing.

The Company confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.

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 Annual Filings. 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 Provide (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.

GBLT Corp., Dr. Thilo Senst, CEO, Tel.: [phone], Email: [email protected]; InvestorRelations: Virtus Advisory Group, Tel: [phone], Email: [email protected]