GBLT Retains Virtus Advisory Group to Provide Corporate Communication Services

TORONTO and DUEREN, Germany, Aug. 21, 2020 /CNW/ -  GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that it has retained Virtus Advisory Group Inc. ("Virtus") to develop and implement a strategic corporate communications program to increase the Company's exposure among industry stakeholders and investors across Canada.

"GBLT has performed extremely well over the past several quarters, however our story has not been communicated to Canadian audiences effectively to date," said Dr. Thilo Senst, Chief Executive Officer of GBLT. "We have engaged Virtus Advisory to share the GBLT story with their extensive network of Canadian investors throughout the country and are confident that their efforts will translate into a larger audience of investors that will recognize the vast market opportunity we are pursuing."

In connection with the engagement, Virtus has been awarded a consulting contract that includes a monthly fee of $10,000 and a grant of incentive stock options, which will vest in equal installments over 12 months, to acquire 900,000 common shares of the Company, exercisable at a price of $0.04 per share for a period of five years from date of grant. The Options shall be subject to the terms of the Company's stock option plan and the policies of the TSX Venture Exchange.

About Virtus Advisory Group:
Virtus is a Toronto-based consulting firm, providing select private and publicly listed companies with business consulting, capital markets strategy and investor relations services. The Company provides expert counsel and access to an unmatched network of investors and capital markets professional across Canada and the United States. Virtus helps issuers establish the relationships and the investor confidence required to build long-term shareholder value. Visit www.virtusadvisory.com for more information.

About GBLT:
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.

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.