GenTech Holdings Inc (GTEH)

[MIKEY501]

*** GTEH BIG NEWS OUT 10-21-2020 ***

https://backend.otcmarkets.com/otcapi/company/dns/news/document/44725/content

GenTech Proudly Secures Deal with TruLife™ Distribution to Drive Growth in SINFIT Digital Sales
Denver, CO, October 21, 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
(www.secretjavas.com), Hemp Wellness (www.hakunasupply.com) and Functional Foods
(www.SINFITnutrition.com) marketplaces, along with its SINFIT Nutrition brand (“SINFIT”), is excited to
announce that the Company has signed a new marketing, sales, and distribution agreement (the
“Agreement”) with TruLife™ Distribution (“TruLife”) (TruLifeDist.com), a leader in marketing, distribution,
compliance, e-commerce, and advisory services in the Functional Foods marketplace. The main focus of
the new Agreement will be to accelerate the growth of e-commerce sales of SINFIT products, particularly
over the Amazon.com platform.
TruLife provides direct access to sales on Amazon, Walmart, Rakuten, Wish, TopHatter, and other top ecommerce platforms, allowing clients to instantly list, ship, and sell products through any major platform,
with an experienced team of experts and a proven track record of success in brand placement and digital
sales strategies.
“We have already demonstrated a significant & expansive growth curve since taking control of the SINFIT
brand in June,” commented Harold Vaca, VP Domestic Sales of SINFIT. “But the vast majority of that
growth has been driven by large purchase orders from major distribution partners, both domestic and
international. We are also committed to aggressively pursuing end-market consumer direct purchases
through our e-commerce footprint, which will provide additional growth and diversify our cash flow
ecosystem, making our overall strategy less dependent upon any one source of demand, while driving
further growth in total sales.”
Management notes that e-commerce sales represent a sizeable portion of overall retail sales growth
worldwide, with more than $3.5 trillion in online sales accounting for over 14% of total pre-pandemic
global retail sales. Since the onset of the global health crisis, that ratio has shifted decisively further in
favor of e-commerce sales, which is not likely to entirely revert back upon the advent of a viable and
widely accessible vaccine.
Vaca added, “We have seen an epic process of market penetration for e-commerce platforms this year as
major online retailers have begun to reach a much wider base of consumers – people who haven’t ever
shopped much online, but have been forced to during recent months out of personal health concerns.
Many of them will almost certainly continue to make use of e-commerce now that they have tried it out, at
least to some extent, making e-commerce an essential sales channel for SINFIT products. TruLife has the
network, team, experience, and resources to dramatically augment our e-commerce performance.”
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.
SINFIT products as well-positioned relative to 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 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, owns a Functional Food
company, SINFIT Nutrition and recently closed its acquisition on Products-Groups’ “Hakuna Supply”.
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Corporate Contact:
[e-mail]
www.gentechholdings.com