LONDON, UNITED KINGDOM - Newsfile Corp. - 27 December 2024 - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), is pleased to announce the removal of a partial but a critical overhang from its shareholder base, following the exercise of warrants by one of the holders, resulting in a fresh injection of capital of nearly $6 million.

This pivotal milestone injects fresh cash into the Company's reserves, Gorilla's unwavering dedication to building a fortress-like balance sheet. Simultaneously, Gorilla is taking bold steps to engage with other investors to strategically acquire their shares, while aggressively advancing its share buyback programme to reshape and fortify its capital structure for long-term growth and stability. With a robust backlog of projects, strategic partnerships across key industries and a strong foothold in emerging markets, the Company is well-positioned for substantial growth.

Chairman and CEO Jay Chandan remarked, "A partial removal of this overhang and the fresh injection of capital further strengthen our position to execute on our growth plans. Our ongoing efforts to engage with the market and optimise our capital structure underscore the confidence we have in Gorilla's future and its potential."

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

Investor Relations Contact:



Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com