VANCOUVER, BC, Oct. 29, 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, at the request of CIRO, wishes to clarify its news release dated October 16, 2025 regarding the non-binding letter of intent (the “LOI”) with Capitalink Ltd. The LOI is dated October 12, 2025 and was entered into on October 15, 2025. As previously announced on October 16, 2025, 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) for a total consideration of $380,000. Pursuant to the Company’s interim financial statements for the six-months period ended June 30, 2025, on June 30, 2025 this amount was $617,000. This amount is expected to be updated in the Company’s interim financial statement for the nine-months period ended September 30, 2025. Capitalink and its shareholders are arm’s length to the Company.
The Company wishes to clarify further, that it intends to complete 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 $0.05 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 $0.05.
Although the transactions contemplated by the LOI will result in results in new shareholders holding greater than 50% of the voting securities of the Company, it is not expected to result in change of control of the Company. The transactions contemplated by the LOI are not expected to result in Fundamental Change (as defined in the Canadian Securities Exchange (the “CSE”) policies), subject to the discretion of the CSE.
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 [email protected];
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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SOURCE StickIt Technologies Inc.
