VANCOUVER, BC, Jan. 2, 2026 /PRNewswire/ -- Further to its press releases dated October 15, 2025 and October 29, 2025, 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, wishes to announce that is amends the terms of the consolidation of its common shares. Effective January 7, 2026, the common shares of the Company will be consolidated on the basis of one (1) post-consolidation share for every five (5) pre-consolidation shares (the "Consolidation"). The record date of the Consolidation will be January 6, 2026. There will be no name change in conjunction with the Consolidation. The Company's common shares will continue to trade on the CSE under the existing stock symbol "STKT".
As stated in the Company's news release dated October 15, 2025, the Consolidation is intended to increase the Company's flexibility and make the Company's securities more attractive to potential investors and other interested parties. The Board of Directors believes that the Consolidation is in the best interest of shareholders of the Company.
The Company currently has 127,547,356 common shares issued and outstanding. Upon completion following receipt of regulatory approvals, the Company would have 25,509,471 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 affect the share consolidation by directors' resolution and the Company does not intend to seek shareholder approval for these changes.
Concurrently, the Company announces amendment to its 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 $0.025 per Unit, with each such unit consisting of one (1) Common Share and one (1) Common Share purchase warrant (each a "Warrant"), with each Warrant exercisable, for a period of three (3) years from the date of issuance, into one additional Company's common share upon payment of $0.025. The warrants cannot be exercised until the Company completes a further consolidation of its share capital, whereby every two (2) existing shares will be consolidated into one (1) new share. Finder's fee will be paid in cash and securities pursuant to CSE policies and regulations.
The Company confirms that it has been granted approval by the CSE to avoid seeking securityholder approval for the Private Placement in reliance on the exceptions outlined in section 4.6(2)(b) of CSE Policy 4, as the Company is in serious financial difficulty. No related person of the Company will be participating in the Private Placement.
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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