VANCOUVER, BC, May 21, 2024 /PRNewswire/ -- StickIt Technologies
Inc. (the "Company" or "StickIt") (CSE: STKT), an Israeli
technology and cannabinoid company, today announced an
unsecured convertible debenture placement.
The $10,000 unsecured convertible
debenture from StickIt, which matures on April 18, 2025, carries a 5% interest rate per
annum and is payable at the end of the term. The convertible
debenture can be automatically converted into Common Shares at a
conversion price of $0.35 per Common
Share at the election of the debenture holder.
The funds will be invested in Ripco Processing Inc., a cannabis
processing and research and development facility located in
Calgary, Alberta. Ripco, which has
a team of experienced cannabis pioneers, focuses on creating
unique, desirable cannabinoid-based products for recreational and
medical use.
"Ripco is pleased to be working with Stickit in Canada. This relationship gets the amazing
Stickit products into the Canadian market quickly, feeding directly
into our existing distributions channels for immediate sales.",
says Ripco.
"Stickit, as an innovator in cannabis technologies, knows that
its success in Canada in directly
tied to the success of Ripco's Stickit launch. We are happy to help
our licensees achieve success with our products and we know Ripco
does great work.", said Eli Ben Haroosh, CEO of Stickit
Technologies.
About StickIt Technologies Inc.
StickIt is a technology company that invented and
manufactures innovative products ("devices") that can contain
varying quantities of CBD/THC for recreational and medical
cannabis users. Its operating model is to establish joint
ventures/licensees ("partners") in countries around the
world that will establish a production facility in which
they will add the cannabinoid content to the "sticks" and
"straws" produced and supplied by StickIt. The Company's
precise dosing options cater to a wide range of effects, including
painkilling, energizing, focus, sleep improvement, etc., and can be
tailored to meet local preferences and regulations. StickIt
Technologies serves customers worldwide.
About Ripco Processing Inc.
Ripco, known for its innovative cannabis products, brings
popular brands like Stickit and Stripit to the Canadian market.
Stickit is an infused stick designed to enhance the performance of
prerolls, promising to take user experiences to new levels – just
Stickit!
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 Technologies Inc. Readers are cautioned not
to place undue reliance on forward-looking statements.
For more information, please contact:
StickIt Technologies Inc.
Eli Ben Haroosh, CEO
E:info@stickit-labs.com
Sophie Galper , CFO
E:sophie@stickit-labs.com
Website: www.stickit-labs.com
Facebook: @Stickit
Twitter "X": @STICKIT74776509
LinkedIn: @Stickit-labs
Logo:
https://mma.prnewswire.com/media/2258883/Stickit_Logo.jpg
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