Ms. Sophya Galper-Komet reports
STICKIT ANNOUNCES CORPORATE CHANGES
Stickit Technologies Inc.'s Igor Kostioutchenko has resigned as a director of the company, effective immediately. The board would
like to thank him for his services to date.
About Stickit Technologies Inc.
Stickit primary assets consist of patents and patent applications related to plant extracts, therapeutic compounds in smoking utensils and honey complexes. Stickit has already patents granted in the United States, 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 it 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 set-up 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 its designated territory.
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