Gilla Inc. (OTCPK:GLLA) announced a non-brokered private placement of 15,000,000 units at $0.10 per unit for gross proceeds of up to $1,500,000 on January 16, 2017. Each unit consists of one common share and one-half share purchase warrant. Each whole warrant entitles the holder to acquire one common share at $0.20 per share for a period of 12 months from the date of closing. The company expects to close the transaction on or about January 31, 2017. The company has the right to reserve the right to increase the transaction size by up to 30% of the gross proceeds.