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StickIt Invests in Cannabis Processing Facility

Ripco creates cannabinoid-based products for recreational and medical use.

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StickIt

StickIt Technologies, an Israeli technology and cannabinoid company, today announced an unsecured convertible debenture placement.

The $10,000 unsecured convertible debenture from StickIt, which matures on April 18, 2025, carries a 5% interest rate per annum and is payable at the end of the term. The convertible debenture can be automatically converted into Common Shares at a conversion price of $0.35 per Common Share at the election of the debenture holder.

The funds will be invested in Ripco Processing Inc., a cannabis processing and research and development facility located in Calgary, Alberta. Ripco, which has a team of experienced cannabis pioneers, focuses on creating unique cannabinoid-based products for recreational and medical use.

"Ripco is pleased to be working with Stickit in Canada. This relationship gets the amazing Stickit products into the Canadian market quickly, feeding directly into our existing distributions channels for immediate sales.," Ripco said.

"Stickit, as an innovator in cannabis technologies, knows that its success in Canada in directly tied to the success of Ripco's Stickit launch. We are happy to help our licensees achieve success with our products and we know Ripco does great work.," said Eli Ben Haroosh, CEO of Stickit Technologies.

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