Salute e Benessere
StickIt Clarifies Corporate Reorganization Share Consolidation and Proposed Private Placement Announcement
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 ) policies), subject to the discretion of the CSE.
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
Eli Ben-Haroosh, CEO
For further information please contact
Mr. Eli Ban-Haroosh at info@stickit-labs.com ;
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