Gorilla technology removes the overload from the market, strengthens the position through strategic actions

LONDON, UNITED KINGDOM – Newsfile Corp. – December 27, 2024 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”), is pleased to announce the elimination of a partial but critical surplus from its shareholder base, following the exercise of warrants by one of the holders, resulting in a new injection capital of almost 6 million dollars.

This essential stone injects fresh cash into the Company’s reserves, Gorilla’s unwavering devotion to building a fortress-like balance sheet. At the same time, Gorilla is taking bold steps to engage with other investors to strategically acquire its shares, while aggressively advancing its share buyback program to reshape and strengthen its capital structure for long-term growth and stability. With a robust pipeline of projects, strategic partnerships in key industries and a strong position in emerging markets, the company is well positioned for substantial growth.

Chairman and CEO Jay Chandan noted, “A partial write-off of this surplus and a new capital injection further strengthens our position to execute on our growth plans. Our continued efforts to engage with the market and optimize our capital structure underscore the confidence we have in Viitorul Gorillai and its potential.”

Acting CFO Bruce Bower added: “These actions reflect our prudent financial management and proactive approach to managing our capital structure, while maintaining the liquidity necessary to support Gorilla’s strategic initiatives and long-term growth ambitions. Gorilla remains focused on delivering innovative, value-generating solutions for stakeholders and leveraging its AI and cybersecurity expertise to lead in high-growth markets.”

Investor Relations Contact:

Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
(email protected)

The issuer is solely responsible for the content of this announcement.

About Gorilla Technology Group Inc.

Headquartered in London, UK, Gorilla is a global provider of Security Intelligence, Network Intelligence, Business Intelligence and IoT technology solutions. We offer a wide range of solutions, including smart city, network, video, security convergence and IoT, in selected verticals of government and public services, manufacturing, telecommunications, retail, transport and logistics, healthcare and education, through the use of AI and Deep. Learning technologies.

Our expertise lies in revolutionizing urban operations, strengthening security and increasing resilience. We offer pioneering products that harness the power of artificial intelligence in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analysis and advanced cyber security technologies. By integrating these AI-based technologies, we empower smart cities to increase efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

For more information, please visit our website: Gorilla-Technology.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections, and accordingly you should not rely on them forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should” , “ “believe,” “anticipate,” “potential,” “may” and “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements about our beliefs about the capabilities of our GPU offering, our ability to deliver products at competitive prices, our ability to serve our customers, the growth of the Smart City market, our capabilities. third party suppliers, our ability to attract customer attention and win additional projects, together with those other risks described under the heading “Risk Factors” in Gorilla’s Form 20-F filed with the Securities and Exchange Commission (“SEC”) on May 15 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are beyond Gorilla’s control and are difficult to predict. If one or more of these risks or uncertainties materialize or if underlying assumptions prove incorrect, actual results may differ materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they are made, except as required by law or applicable regulations.