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8-K - CURRENT REPORT - GILLA INC. | glla_8k.htm |
Exhibit 99.1
GILLA ADVANCES CANNABIS CONCENTRATES DIVISION
TORONTO, CANADA – (June 1st,
2017) - Gilla Inc.
(“Gilla” or the “Company”) (OTCQB: GLLA),
the fast-growing designer, manufacturer and marketer of E-liquid
for vaporizers, today announced that the Company’s
Toronto-based subsidiary, Gilla Enterprises Inc., has engaged two
senior product developers, Ryan Bennett and Judy Spasser, who are
both based in Colorado, to further the Company’s research and
development initiatives in the cannabis concentrates sector. Ryan
brings to Gilla many years of cannabis production and extraction
expertise. Judy has spent the last several years developing
formulations for certain niche cannabis concentrate
products.
Gilla
is developing a suite of vapor and cannabis concentrate products
under a new brand including high terpene vape oils, pure
crystalline, high performance vape pens and other targeted
products, some of which can be viewed on Instagram under the name
@the0therone. These products and the corresponding brand will be
launched in the coming weeks through licensing agreements with
licensed operators and distributors across multiple jurisdictions.
The Company is developing a turn-key solution for its prospective
licensees which will include unique extraction techniques, standard
operating procedures, custom formulations, production level
support, sales and marketing support and additional brand level
support from Gilla. The Company will seek to generate revenue
through royalties and other support fees that will be based on a
percentage of total gross revenues from the sale of Gilla’s
products by its licensed partners. The Company has established
relationships with a number of prospective licensees and is working
towards launching products for sale this summer.
“I
am pleased to announce the addition of Ryan and Judy to
Gilla,” stated Graham Simmonds, Chairman and CEO of Gilla. He
added, “Our focus over the past few months has been the
development of our full range of vape and concentrate products for
the cannabis market. I have no doubt that given the experience and
strength of our team, we will have market leading products for sale
right out of the gate. Gilla’s mandate is to build a
multi-jurisdictional brand and product business servicing both the
nicotine and cannabis user with high quality products and a
consistent user experience. With these products soon to be
launched, we are now well on our way to achieving this
goal.”
About Gilla Inc.
Gilla
Inc. manufactures, markets and distributes E-liquid, which is the
liquid used in vaporizers, E-cigarettes, and other vaping hardware
and accessories. E-liquid is heated by the atomizer to deliver the
sensation of smoking. Gilla aims to be a global leader in
delivering the most efficient and effective vaping solutions for
nicotine and cannabis related products. The Company provides
consumers with choice and quality across various categories and
price points. Gilla’s proprietary product portfolio includes
the following brands: Coil Glaze™, Siren, The Drip Factory,
Craft Vapes™, Craft Clouds, Surf Sauce, Vinto Vape, VaporLiq,
Vape Warriors, Vapor’s Dozen, Miss Pennysworth’s
Elixirs, The Mad Alchemist™, Replicant, Enriched Vapor and
Crown E-liquid™.
Forward-looking Statements
Note:
This press release contains “forward looking
statements” as defined in the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
currently available competitive, financial and economic data and
management’s views and assumptions regarding future events.
Such forward-looking statements are inherently uncertain. Gilla
Inc. cannot provide assurances that the matters described in this
press release will be successfully completed or that the company
will realize the anticipated benefits of any transaction. Actual
results may differ materially from those projected as a result of
certain risks and uncertainties, including but not limited to:
global economic and market conditions; the war on terrorism and the
potential for war or other hostilities in other parts of the world;
the availability of financing and lines of credit; successful
integration of acquired or merged businesses; changes in interest
rates; management’s ability to forecast revenues and control
expenses, especially on a quarterly basis; unexpected decline in
revenues without a corresponding and timely slowdown in expense
growth; the company’s ability to retain key management and
employees; intense competition and the company’s ability to
meet demand at competitive prices and to continue to introduce new
products and new versions of existing products that keep pace with
technological developments, satisfy increasingly sophisticated
customer requirements and achieve market acceptance; relationships
with significant suppliers and customers; as well as other risks
and uncertainties, including but not limited to those detailed from
time to time in Gilla Inc. SEC filings. Gilla Inc. undertakes no
obligation to update information contained in this release. For
further information regarding risks and uncertainties associated
with Gilla Inc.’s business, please refer to the risks and
uncertainties detailed from time to time in Gilla Inc.’s SEC
filings.
For
more information, please visit gilla.com, or
contact:
Mr. Bradford Long
Investor Relations
T: 1
(888) 994-GLLA (4552)
E:
brad.long@gilla.com