GenTech Secures
Brand New Facility to Accommodate
their Logistical Demands
Associated with Accelerating
SINFIT & SECRET
JAVA Product Sales
NEW YORK --
July 15, 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 pleased to announce that it has
leased a new facility
allowing The Company to manage
their
increasing operational demands, including storage and
handling of increased inventory levels, in response to
the accelerated
pace of growth underway since ramping up its recently
acquired SINFIT Nutrition (SINFITnutrition.com)
("SINFIT") functional foods
brand.
Since acquiring
SINFIT
last quarter,
GenTech witnessed immediate topline growth, with $130,000 in sales
during their
initial month of June.
And with additional
new orders
coming in from a global network of distributors, the Company has
also
expanded its
ecommerce availability, and GenTech's US SINFIT sales team has ramped up activity with
domestic US
distributors already very familiar with the brand
and sitting on
reportedly thin inventories.
Given the rapid rate of growth,
to assure
against any disruption in timely processing and shipment of new
orders, the Company is moving into a new office and warehouse
facility today (July 15th) located in the greater Denver
metro region – often considered the central hub for domestic US
distribution. The lease currently provides for 4000 sq. ft. and carries a built-in
option to expand to
8,000 sq. ft. within three (3) months. The property
lease
also includes the
rights to a prime physical advertising space directly
adjacent to
a major
highway (Interstate
70)
with daily traffic
exceeding over +300,000 people per
day.
"Our SINFIT team needs the room to
handle our ramping product flow from new
orders," commented David Lovatt, CEO of GenTech. "We anticipated
increased logistical demands – a great sign – but we hadn't
expected to make this move so soon – which is also a great sign. To
put it in concrete terms, the current $100,000 in
product that
was ordered just last week consists of 10,000
bags of protein infused pancakes, over 25,000 bottles of
sugar-free syrup, 3000 caffeinated flavored
spreads, 8000 of our brand new offering of
'nutrition waffles', and 4000 units of our protein infused
cookies
as well as
5000 protein
bars, both
of which are our newly re-formulated
recipe"
SINFIT branded products registered
over $2.2 million in global sales in 2019, and are now approved for
sale and available for purchase on the Walmart.com and Amazon.com
e-commerce platforms as well as 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, along with True North stores
in Canada.
SINFIT products are well-positioned relative
to their
sector peers and to the long-term macro tailwind
defining the
functional foods market itself, 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 trend is part
of a 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
