GenTech Highlights Strong Jump in International Orders as Global Marketplace Reopens
NEW YORK, June 22, 2020 (GLOBE NEWSWIRE) — via OTC PR WIRE — GenTech Holdings, Inc. (OTCMKTS: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end Premium Coffee and Functional Foods marketplaces, is excited to announce a surge in purchase orders from international markets in excess of $150,000 for products sold through its newly acquired brand, Sinfit Nutrition (Sinfitnutrition.com) (“Sinfit”), a Top-5 functional food brand currently sold in over 2,500 GNC locations in North America, and over 10,000 global physical and e-commerce stores across more than 10 countries around the world.
The recent surge in orders has occurred over a two-week period, as GenTech management has taken over operational control of Sinfit and begun to invest in accelerating sales activity for the popular functional foods brand.
TruNorth, one of the largest distributors in Canada, is actively working to expand the Sinfit footprint in the Canadian marketplace. In addition, the brand’s UAE distributor has placed an order for $80,000. And its Singapore distributor has notified the Company that an order for an additional $70,000 is being processed. Its UAE distributor has only been selling Sinfit products within Saudi Arabia but is now expanding to drive sales throughout the middle east region, which may open up access to a market worth in excess of $500 million by 2023.
David Lovatt, CEO of GenTech, remarked, “We know we can grow Sinfit Nutrition into a global brand over the next two years. In fact, we are already proving that. To support that growth, our SEC disclosure late last week, if approved and we decide to let it stand, is important because it arms us with the ability to make the necessary investments in seeing that vision actualized. Typically, it takes a minimum of 30 days before the SEC approves Regulation A financing instruments and, barring any additional comments & company responses, could stretch that timeline out to 60 or even 90 days. So we have therefore now granted GenTech with a necessary level of optionality and, with that flexibility, we aim to deliver long-term shareholder value, even if the short term is more volatile. That said, we appreciate the importance of maintaining a vigilant eye on GTEH share pricing in the public markets. We will respect that factor as we weigh our options and move forward, navigating this important transition toward significant commercial stage growth, while always remaining fully committed to transparency and keeping our shareholders informed.”
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas and has recently closed on its acquisition of Sinfit Nutrition, a range of high-end Function Foods.
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.