ToughBuilt Announces Agreement with Canadian Third Party Logistics and Wholesale Services Company
LAKE FOREST, CA / ACCESSWIRE / April 11, 2019 / ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ: TBLT; TBLTW), a designer, manufacturer and distributor of innovative tools and accessories to the building industry, today announced it has entered into a sales and marketing agreement with Bull Sales, Inc., a third-party logistics and wholesale services company in Canada supplying home improvement chains, independent retailers, as well as customers in the industrial, construction, contractor, and automotive markets across Canada.
Bull Sales is a Canadian based sales and marketing company founded in 1997. The company is headquartered in Southern Ontario and serves all of Canada through an internal sales force and outside sales representatives. In addition to its wholesale and distributor network, Bull Sales provides safety training and product support to its customers.
Alan Bull, President, and Founder of Bull Sales, stated, "ToughBuilt has established a reputation for high-quality products, which aligns with our mission of supplying best-in-class tools and accessories. There is strong demand for these products among our channel partners, and we look forward to leveraging our broad retail and wholesale network."
Michael Panosian, Chief Executive Officer of ToughBuilt, commented, "Bull Sales is an ideal partner and should help to expand our market penetration across Canada. Bull Sales' customers include many of the largest big-box retailers such as Home Depot, Lowe's Walmart, Costco, Sam's Club and others, as well as end-user customers across a variety of industries. This latest agreement is another illustration of the favorable market feedback to our products and we look forward to further expanding our global reach."
About ToughBuilt Industries, Inc.
ToughBuilt is a leading designer, manufacturer, and distributor of innovative tools and accessories to the building industry. We market and distribute various home improvement and construction product lines for both the do-it-yourself and professional markets under the TOUGHBUILT® brand name, within the global multi-billion dollar per year tool market industry. All of our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product line includes three major categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide products to the building and home improvement communities that are innovative, of superior quality, derived in part from enlightened creativity for our end users while enhancing performance, improving well-being and building high brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) negative clinical trial results or lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) insufficient or inadequate reimbursement by governmental and other third party payers for our products, (ix) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (x) legislative or regulatory reform of the healthcare system in both the U.S. and foreign jurisdictions, (xi) our reliance on single suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xiii) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
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SOURCE: ToughBuilt Industries, Inc.
Released April 11, 2019