Gilla Inc.
OTCQB : GLLA

Gilla Inc.

March 16, 2017 09:30 ET

Gilla Appoints Senior Executive to Lead Cannabis Products Division

TORONTO, ONTARIO--(Marketwired - March 16, 2017) - Gilla Inc. ("Gilla" or the "Company") (OTCQB:GLLA), the fast-growing designer, manufacturer and marketer of E-liquid for vaporizers, announced today that a subsidiary of the Company has appointed Mr. Jason Provost to the position of senior vice president of business development having the primary responsibility of advancing Gilla's entrance into the cannabis concentrate business.

Overseeing all aspects of Gilla's cannabis concentrate division, Mr. Provost will focus on identifying and establishing relationships with existing operators around the world for product licensing opportunities. Mr. Provost will also oversee the Company's product development in this area including the creation and acquisition of specific intellectual property and know-how as it pertains to the production of the concentrates. The Company and its subsidiaries will not be directly involved in the cultivation of the plants or the direct sale of the products as this will be facilitated through licensing agreements with licensed operators in each relevant jurisdiction. Gilla aims to build and license a broad portfolio of cannabis concentrate products with a multi-jurisdictional distribution strategy that compliments its existing sales and distribution platform covering 25 countries.

"We are very pleased to announce the addition of Jason to our team and his skill sets will tremendously enhance our existing business and the advancement of our cannabis related products," stated Graham Simmonds, Chairman and CEO of Gilla Inc. He added, "Jason's industry experience and the relationships he has developed will also open significant opportunities for acquisitions, licensing relationships and other partnerships."

Gilla recently announced its expansion into the cannabis sector through the introduction of its "Enriched Vapor" CBD E-liquid brand. The addition of Mr. Provost is expected to significantly accelerate Gilla's expansion into other cannabis related products.

Mr. Provost brings over 4 years of direct experience in the cannabis industry and over 15 years of experience in providing capital markets advisory and financial restructuring. Most recently, Mr. Provost was the CEO and co-founder of Neos Brands, a fast-growing wholesale producer and distributor of branded cannabis concentrate products, headquartered in Denver, Colorado. Mr. Provost developed Neos into a leading brand in the cannabis concentrate category generating in excess of $4.5 million over the previous two years.

As CEO of Neos, Mr. Provost led all aspects of product development, branding, marketing, production and distribution. He developed a unique licensing model to enable owners/operators in various states to access the Neos brand through a licensing arrangement, generating broader exposure for Neos and an alternative revenue model to that of the traditional owner/operator model.

Mr. Provost also spent 15 years in capital markets advisory and financial restructuring with GE Capital, Merrill Lynch and Black Diamond Capital Management where he focused on providing debt and equity investments to both large and small companies experiencing operational difficulties.

Mr. Provost graduated from Marist College with a B.Sc having majored in Business Administration with a minor in Accounting.

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 product portfolio includes Coil Glaze, The Drip Factory, Surf Sauce, Siren, Enriched Vapor, VaporLiq, Craft Vapes, Craft Clouds, Vinto Vape, Vape Warriors, Miss Pennysworth's Elixirs, The Mad Alchemist, Replicant and Crown E-liquid brands.

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.

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