StickIt Announces Closing of its Private Placement
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VANCOUVER, BC, Feb. 17, 2026 /PRNewswire/ -- StickIt Technologies Inc. (the "Company" or "STKT"), (CSE: STKT), a parent company of the Israeli technology and cannabinoid company StickIt Ltd., the developer exclusivity & patent protected of "Cannabis Sticks" Technology,, is pleased to announce that it has closed its non-brokered private placement announced on October 16, 2025 and clarified on October 23, 2025 and December 31, 2025. The Company has issued a total of 28,884,000 units (each a "Unit") at a price of CDN$0.025 per unit, for gross proceeds of CDN$722,100.00. Each Unit consists of one common share and one full common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at a price of CDN$0.025 per share for a period of thirty-six months up to and including February 13, 2029, subject to the exercise price restriction clause.
A finder's fee comprised of CDN$57,768.00 and 2,310,720 finder warrants (the "Finder Warrants") was paid on a portion of the financing. Each Finder warrant entitles the holder to purchase one additional common share of the Company at a price of CDN$0.025 per share for a period of thirty-six months up to and including February 13, 2029, subject to an exercise price restriction clause. Under the exercise price restriction clause, the Warrants and Finder's Warrants cannot be exercised until the Company completes a further consolidation of its share capital, with every two (2) existing shares consolidated into one (1) new share.
The Company is a Non-Venture Issuer and the number of securities issuable in the offering (calculated on a fully diluted basis) is more than 100% of the total number of securities or votes outstanding. The Company requested and was granted exemption from CSE Policy 4.6.2(a)(i)(2) since (i) the Company is in serious financial difficulty; (ii) the Company has reached an agreement to complete the Private Placement; (iii) no Related Person of the Company is participating in the Private Placement; (iv) independent directors constituting a majority of the Board's independent directors in a vote in which only independent directors participated, determined that the offering is in the best interests of the Company, is reasonable in the circumstances and that it is not feasible to obtain security holder approval; and (v) on December 31, 2025 the Company issued a news release stating it will not hold a security holder vote and fully explaining how it qualifies for the exception.
All securities issued are subject to a hold period of four (4) months and one day and as such may not be traded until June 14, 2026.
The net proceeds from the sale of units have been added to working capital in furtherance of the Company's business.
About StickIt
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
/s/ "Eli Ben-Haroosh"
Eli Ben-Haroosh, CEO
For further information please contact:
Mr. Eli Ban-Haroosh at [email protected]
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. Readers are cautioned not to place undue reliance on forward looking statements.
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SOURCE StickIt Technologies Inc.
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