Gilla''s Private Placement Oversubscribed; Releases 2016 Year End Results
(firmenpresse) - NEW YORK, NEW YORK -- (Marketwired) -- 04/05/17 -- ("Gilla" or the "Company") (OTCQB: GLLA), the fast-growing designer, manufacturer and marketer of E-liquid for vaporizers, today provided a corporate update which highlighted the oversubscription of the Company''s non-brokered private placement for total gross proceeds of over $1.64 million along with the release of the Company''s financial results for the year ended December 31, 2016.
CORPORATE UPDATE
Q4 2016 HIGHLIGHTS
FY 2016 HIGHLIGHTS
"Fiscal 2016 was a transformational year for Gilla where a shift towards offering multiple proprietary E-liquid brands across international markets has shown significant revenue growth and global diversification," stated Graham Simmonds, Chairman and CEO of Gilla. "With a strong international sales and distribution platform now established, Gilla''s goals for 2017 will be to further advance its E-liquid revenues around the world while also building out its cannabis concentrates product portfolio and related licensing relationships."
Neither the Common Shares nor the common shares issuable upon exercise of the Warrants thereof will be registered under the Securities Act of 1933, as amended, or any state securities laws and they may not be offered or sold in the United States absent of registration or an applicable exemption from registration requirements. The Units were sold in a private placement to accredited investors in the United States and pursuant to Regulation S outside the United States. This press release does not constitute a solicitation or offering to purchase the Units or any other securities of the Company. All references to dollar amounts in this press release are in United States Dollars unless stated otherwise.
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 CBD 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.
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Contacts:
Gilla Inc.
Mr. Bradford Long
Investor Relations
1 (888) 994-GLLA (4552)
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Datum: 05.04.2017 - 07:25 Uhr
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News-ID 1496909
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