Ms. Sophya Galper Komet reports
STICKIT ANNOUNCES CHANGE IN AUDITORS
Stickit Technologies Inc. has changed its auditor from Bassi & Karimjee LLP to Ovadia Kriheli & Co., effective Oct. 27, 2023. The change was made in connection with the completion of the company's reverse takeover transaction described in its non-offering final prospectus dated Oct. 24, 2023. The company is relying on an exemption from the change of auditor requirements set out in Section 4.11(3)(a) of National Instrument 51-102 -- Continuous Disclosure Obligations and in this regard confirms that there were no reportable events between the company and Bassi & Karimjee.
The company also wishes to confirm that Ovadia Kriheli has been confirmed as the company's auditor at each of the annual general meetings of the company's shareholders held on May 29, 2024, and June 26, 2025.
About Stickit Technologies Inc.
The company's primary assets consist of patents and patent applications related to plant extracts, therapeutic compounds in smoking utensils, and honey complexes. The company already has 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.
The company operates from key facilities situated in Dalton, Northern Israel. These facilities are central to the company's research, development and manufacturing operations.
The company'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 the company. As part of those arrangements the company 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 the company 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 the company's products in their designated territory.
We seek Safe Harbor.
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