Gilla Inc. (OTCPK:GLLA) agreed to Spin-Off HYSTYLE BRANDS INC. on May 17, 2018. The transaction is expected to result in two separate public companies. Gilla will establish a record date for the spin-off at such time that all conditions have been met and expects to declare a spin-off dividend of a pro-rata ownership of HYSTYLE to Gilla’s shareholders as at the record date. HYSTSYLE will be pursuing a private round of financing, and post spin-off, it will take the necessary steps towards listing its shares on a Canadian exchange. The transaction is subject to the U.S. Securities and Exchange Commission’s review and clearance of HYSTYLE’s registration statement on Form 10 and meeting all of the other conditions to the spin-off. The transaction is expected to complete in next sixty days.