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8-K - CURRENT REPORT - GILLA INC. | glla_8k.htm |
Exhibit 99.1
GILLA PREPARING FOR CANNABIS PRODUCTS LAUNCH IN NEVADA
TORONTO, CANADA – (August 9th,
2017) - Gilla
Inc. (“Gilla” or the “Company”)
(OTCQB: GLLA), the fast-growing designer, marketer and manufacturer
of E-liquid for vaporizers and developer of cannabis concentrate
products, today provided an update on the Company’s cannabis
production and distribution licensing agreement in Nevada (the
“Licensing Agreement”) regarding the recent progress
between Gilla’s Toronto-based subsidiary, Gilla Enterprises
Inc., and Alternative Medicine Association, LC (“AMA”
or the “Licensee”), a Nevada-licensed medical marijuana
establishment (“MME”) which was recently acquired by
Friday Night Inc. (CSE: TGIF). The full details of the Licensing
Agreement are disclosed in the Company’s press release dated
June 20th,
2017.
Since
entering into the Licensing Agreement, the parties have been
working diligently to further the launch of Gilla’s licensed
products in the State of Nevada. Gilla has successfully installed
its extraction equipment in AMA’s production facility and is
now working on implementing all related standard operating
procedures and training requirements for commercial production.
Gilla will continue to work closely with the AMA production team to
ensure all production level requirements are in place and running
efficiently. The parties are currently working on a market launch
strategy with first sales expected later this month.
“We
are very excited to be nearing our first launch of our cannabis
concentrate products,” stated Mr. Graham Simmonds, Chair and
CEO of Gilla. He added, “We expect our products to be well
received in the Nevada market given our early mover advantage as
the market has only recently opened to recreational
users.”
Mr.
Mark Zobrist, CEO of AMA stated, “We believe the Gilla
products will provide AMA with a unique and lucrative position in
the Nevada market.” He continued, “Demand is
outweighing supply quite significantly in Nevada and we expect that
Gilla’s products will be a very hot commodity once available
to the recreational marketplace.”
About Alternative Medicine Association, LC and Friday Night
Inc.
Alternative
Medicine Association, LC owns and operates a licensed medical
marijuana cultivation and production facility in Las Vegas, Nevada.
The company produces its own line of cannabis-based extracts
including shatter, live resin, wax and oils including vape oils,
flavored vape oils, terpene enhanced oils, and clear distillates
and manufactures other third-party brands of similar products.
Friday Night Inc., a Canadian public company (CSE: TGIF), owns 91%
of AMA and 91% of Infused MFG, a company that produces hemp-based,
CBD products from high quality organic botanical ingredients.
Friday Night Inc. is focused on strengthening and expanding its
operations within and outside of the State of Nevada.
About Gilla Inc.
Gilla
Inc. manufactures, markets and distributes E-liquid for use in
vaporizers and develops turn-key vapor and cannabis concentrate
solutions for high terpene vape oils, pure crystalline, high
performance vape pens and other targeted products. Gilla aims to be
a global leader in delivering the most efficient and effective
vaping solutions for nicotine and cannabis related products. The
Company’s multi-jurisdictional, broad portfolio approach
services both the nicotine and cannabis markets with high quality
products that deliver a consistent and reliable user experience.
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,
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. Graham Simmonds
Chair and CEO
T: 1
(416) 843-2881
E:
graham.simmonds@gilla.com