GenTech's "Sinfit
Nutrition" Records Strong Sales via
Walmart.com, Amazon.com, True North, etc., and Continues
to Accelerate Massive Expansion with Largest US
Distributor of Functional Food and Supplements, Europa
Sports
NEW YORK, NY
-- July 8, 2020 -- InvestorsHub NewsWire
-- GenTech Holdings, Inc. (OTC
PINK:
GTEH) ("GenTech" or the "Company"),
an emerging leader
in the high-end Premium Coffee and Functional Foods
marketplaces, is excited to announce that the
Company's recently acquired Sinfit Nutrition (www.sinfitnutrition.com) ("Sinfit") branded products, which
registered over $2.2 million in global sales in 2019 across ten
(10) countries, are approved for sale and available for purchase on
the Walmart.com and Amazon.com e-commerce platforms
as well as being
available across the US in many popular
stores.
David Lovatt, CEO of GenTech, commented, "We have already
seen a strong uptick in Sinfit sales through international deals
since our acquisition. Now, we are seeing online performance
gaining a very meaningful increase in traction through the likes of
Amazon.com and Walmart.com. I could not have been happier
with the $130,000 in closed orders we received in June
alone."
Lovatt continues
"We have
more very good news coming in the near future too, as we
continue our broad expansion in physical
store distribution. We have recently
earned
'mass retail'
status with our partners at Europa, the largest sports nutrition
distributor in the USA. This grants us significantly expanded
access to general
products stores, including grocers, mass
retailers, along with US Army stores and Navy
exchanges across the US. We look forward to discussing
this in further detail over the very near-term horizon ahead."
This expansion comes following
a series of large commitments to order from international
distributors, as discussed in GenTech's prior two communications,
including a total of $270,000.00 in minimum commitments from distributors
in UAE, Singapore, Mexico, and Canada. These commitments are
currently being finalized and will shortly start turning into
actual orders.
Management continues to see
Sinfit products as extremely well-positioned relative
to their
company peers, and to the long-term macro tailwind
defining the
functional foods market, which saw sales top $267
Billion
in February of this year on a global basis, with sales in the US
reaching $63 Billion, according to
Euromonitor 2020. This upwards trend is part of
even
larger supportive
momentum in the general category, with global sales of organic food and
drink topping $105 Billion in 2018
(Ecovia 2019). U.S. organic food
sales also reached $47.9
Billion,
up 5.9% in 2018 (OTA 2019). In 2019, 77% of U.S. adults used
dietary supplements, an all-time high (CRN 2019). U.S. supplement
sales are estimated to have reached $49.3 Billion in 2019, up 6.2% (NBJ
2019).
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, which offers
a range of high-end
Functional Foods.
Forward-Looking Statements
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.
Corporate
Contact:
invest@gentech.group
www.gentechholdings.com