VANCOUVER, BC, Oct. 20, 2025 /PRNewswire/ -- StickIt Technologies Inc. (the "Company" or "STKT"), (CSE: STKT), a parent company of the Israeli technology and cannabinoid company StickIt Ltd., the developer exclusivity & patent protected of "Cannabis Sticks" Technology, is pleased to announce that it has entered into a non-binding letter of intent (the "LOI") with Capitalink Ltd. The proposed transaction will take the form of a corporate restructuring, including a share consolidation of the outstanding common shares of the Company and non-brokered private placement. In addition, Capitalink will acquire all the rights to the amounts owed by the Company to each of Mr. Eli Ben Harosh and Mr. Asher Holzer (directors of the Company). Upon completion of the transactions contemplated by the LOI, Mr. Asher Holzer is expected to resign as director of the Company.
Under the proposed consolidation, every ten (10) existing shares will be consolidated into one (1) new share (the "Consolidation"). The Company currently has 127,547,356 common shares issued and outstanding. Upon completion following receipt of regulatory approvals, the Company would have 12,754,736 common shares issued and outstanding. Fractional shares remaining after giving effect to the Consolidation will be cancelled, such that shareholdings of each shareholder will be rounded down to the nearest whole number of post-consolidation common shares. Outstanding stock options will similarly be adjusted by the Consolidation ratio. In accordance with the articles of the Company, the Board of Directors has the authority to effect the share consolidation by directors' resolution and the Company does not intend to seek shareholder approval for these changes. The Consolidation is subject to the approval of the Canadian Securities Exchange (the "CSE"), the Company will issue a subsequent news release indicating the record date of the Consolidation and the date on which the Company's shares will commence trading on a post consolidation basis.
Concurrently, the Company announces a post consolidation private placement (the "Private Placement") of not less than $700,000 and not more than $1,050,000 worth of units (the "Units"), at a price equal to a 25% discount to the trading price of the Company's shares as quoted on the CSE (the "Market Price"), subject to the pricing policies of the CSE, with each such unit consisting of one (1) Common Share and one (1) Common Share purchase warrant (each a "Warrant"), with each Warrant will be exercisable, for a period of three (3) years from the date of issuance, into an additional Company's common shares upon payment of the Market Price. Finder's fee will be paid in cash and securities to Capitalink pursuant to CSE policies and regulations. The Private Placement is subject to CSE approval. The proceeds from the sale of units will be added to working capital in furtherance of the Company's business. The securities to be issued under the placement will be subject to a four-month hold period.
About StickIt
Stickit primary assets consist of patents and patent applications related to plant extracts, therapeutic compounds in smoking utensils, and honey complexes. StickIt have already patents granted in USA, Europe, Israel and Canada. The Extra-C stick is created through a unique proprietary process, resulting in condensed cannabis oil presented in a toothpick-like matrix, allowing for the easy conversion of regular cigarettes into cannabis or hemp cigarettes.
StickIt operates from key facilities situated in Dalton, Northern Israel, these facilities are central to the company's research, development, and manufacturing operations.
Stickit's operating model is to establish joint ventures in countries around the world where recreational cannabis is permitted. Each licensee/joint venture partner will establish a production facility in which they will add the cannabis content to sticks produced and supplied by Stickit. As part of those arrangements StickIt is expected to provide the joint venture with the know-how required to manufacture the finished product. The licensee/joint venture partner will produce the finished product, adding cannabis to the raw materials provided by StickIt, and will sell them either directly to the points of sale or through distributors The licensee is expected to pay a setup fee by investing the funds necessary to set up the local production facility. Each licensee will have exclusive rights to produce and market Stickit products in their designated territory
On behalf of the Board of Directors
/s/ "Eli Ben-Haroosh"
Eli Ben-Haroosh, CEO
For further information please contact
Mr. Eli Ban-Haroosh at info@stickit-labs.com;
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements. The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company does not undertake to update any forward-looking statements, other than as required by law. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by StickIt. Readers are cautioned not to place undue reliance on forward looking statements.
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