StickIt Technologies Provides an Update on its Intellectual Property Portfolio

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Dec 04, 2023, 09:00 ET

TEL AVIV, Israel, Dec. 4, 2023 /PRNewswire/ -- StickIt Technologies Inc. (the "Company" or "StickIt") (CSE: STKT), a parent company of the Israeli technology and cannabinoid company StickIt Ltd., the developer exclusivity and patent protected of "Cannabis Sticks" Technology, is pleased to provide an update with respect to its intellectual property portfolio.

Founded at 2019, StickIt Ltd. Developed a line of technologies of products as toothpick-sized products inserted into any cigarette to provide the smoker with a functional experience with CBD, CBG, HHC or other cannabinoids. StickIt can be tucked into any smokable including Hemp cigarettes, CBD cigarettes, tobacco cigarettes, pre-rolls, herb cigarettes, spice cigarettes and cannabis smokeballs. StickIt's product come in a wide range of tastes and flavors, as the StickIt technology allows for adding terpenes and to the finished product. Products can be adjusted and produced with different concentrations of cannabinoids like CBD, THC, and CBG according to any local regulation. Endless flavors and aromas can also be added to specifically appeal to local consumers and allow any commercial, cultural or marketing adjustments to be easily made at any destination country.

During the 2023 the Company through its wholly owned Israeli subsidiary, received a US patent under registration US11,582,996 B2, a European patent under registration EP3826481 (in 38 European countries, including Albania, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, The Former Yugoslav Republic of Macedonia, Turkey and United Kingdom), Canadian patent under registration 3,107,730 and an Israeli patent under registration 280409, in connection with the plant extracts and therapeutic compounds in smoking utensils.

StickIt is currently in the process of developing other line of products for nonsmokers' industry. The Company develops a unique cold drinking straw containing cannabinoids a functional experience with CBD, CBG, HHC for non-smoking users. In addition, the Company is developing a hot drink shaker stick containing cannabinoids with functional experience with CBD, CBG, HHC for non-smoking users.

"StickIt is a unique company in the cannabis industry, we are excited to share the important patents we achieved for the Canadian, European, Israeli, and US markets during 2023," said Eli Ben Haroosh, CEO of StickIt.

"We plan to be at the forefront of the technological development of the global cannabis industry," concluded Mr. Ben Haroosh.

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 [email protected]; 972-549671720

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.

This press release should not be considered a comprehensive summary of the Company's listing and business operations. Additional information required by applicable securities laws and the Canadian Securities Exchange is included in the Company's non-offering prospectus dated October 24, 2023 and was included in the CSE Form 2A listing statement for the Company dated October 25, 2023. Trading in the securities of StickIt should be considered highly speculative and readers should refer to the listing statements of StickIt for further information.

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.