Mr. Eli Ben-Haroosh reports

STICKIT TECHNOLOGIES INC. ANNOUNCES YEAR-END 2023 FINANCIAL RESULTS

Stickit Technologies Inc. has released its financial results for the year ended Dec. 31, 2023.

Financial highlights for 2023:

• On May 5, 2023, Stickit entered into a technology licence and distribution agreement with Alta in Canada Inc. granting Alta Inc. a licence to utilize its raw materials and engage in the manufacturing of its products.
• Significant investment in research and development to support innovation and product development, totalling $101,000.
• A notable year with the completion of a reverse takeover (RTO) on Oct. 23, 2023, positioning Stickit for accelerated growth and market expansion.
• Concurrently with the completion of the RTO, the company completed a financing of $441,000, consisting of 1,024,628 subscription receipts for 43.04 cents each, that were converted on a 1:1 basis into the company's common shares.

Notes:

1. All the revenues have been generated by selling the licences for the distribution of Extra-C stick.

2. The increase in the operational expenses was primarily attributable to the professional fees as well as the additional services hike associated with the transaction costs of the RTO and the listing with the CSE. Most of these fees were one-time costs.

3. During 2023 the company incurred losses of $48,986,000 of which $47,695,000 resulted from registration and issuance costs from the RTO.

Operational highlights:

• Expansion into international markets with the establishment of a joint venture in Bangkok, Thailand, aiming to capitalize on global opportunities for the company's Extra-C sticks.
• Secured a comprehensive patent portfolio, enhancing the company's competitive edge and underscoring the company's commitment to innovation. Noteworthy patents include US11582996 B2 in the United States and multiple grants across Europe, Canada and Israel.
• Continued focus on a growth strategy through joint ventures in regions where recreational cannabis is permitted, strengthening the company's global footprint and market reach.

Eli Ben-Haroosh, chief executive officer, remarked: "Poised for ongoing expansion and deeper market reach into 2024 and further, Stickit aims to exploit its formidable patent stance, broaden its worldwide joint venture approach, and persist in innovation within the realm of cannabinoid accessories. The management team upholds a pledge to enhance shareholder value and seize the extensive possibilities in the leisure and medical cannabis arenas."

Sophie Galper Komet, chief financial officer, stated: "Two thousand twenty-three emerged as a cornerstone for Stickit, highlighted by our major technological progress and deepening dedication to novelty via a strong patent collection. Finalizing the reverse acquisition laid a firm base for the upcoming expansion. Looking ahead, the prospect of penetrating international arenas excites us, with a resolve to utilize our pioneering technology to secure a notable share."

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 pain-killing, energizing, focus, sleep improvement, et cetera, and can be tailored to meet local preferences and regulations. Stickit Technologies serves customers worldwide.

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