Israeli 'Cannabis Sticks' Maker Reports Financial Results For 2023 Following Reverse Takeover
Israeli technology and cannabinoid company StickIt Technologies announced on Monday its financial results for the year ended Dec. 31, 2023. Revenue for the fiscal 2023 amounted to CA$203 000 ($149,300), compared to CA$564 000, in the prior year. The company called 2023 a "notable year" following the "completion of a reverse takeover on Oct. 23, 2023, positioning StickIt for accelerated growth and market expansion." Simultaneously the company completed a financing of CA$441,000, consisting of 1,024,628 subscription receipts for CA$0.4304 each, which were converted on a 1:1 basis into the company's common shares.StickIt, the developer exclusivity and patent protected of "Cannabis Sticks," debuted on the Canadian Securities Exchange (CSE), in the same month.
