Hapbee Advances Mechanical Engineering Phase of Bed-Related Product
Hapbee Technologies (TSXV: HAPB, OTCQB: HAPBF) announced progress in developing its patent-pending bed-related magnetic signal prototype. Currently in the mechanical engineering phase, the project is on track to meet its Q3 completion timeline. The product aims to deliver multiple magnetic fields to enhance healthy sleep habits, benefitting from growing global awareness around sleep optimization, especially with World Sleep Day approaching on March 19. The product will feature capabilities such as scheduled signal playback through the Hapbee Companion App.
- Prototype development is on schedule, with completion expected in Q3.
- The product aims to enhance sleep health, addressing a growing market concern.
- Dependence on timely material supply could affect product functionality and aesthetics.
- Risks of the final product differing significantly from the initial renderings.
High-Level Renderings Drafted
(TSXV: HAPB)
VANCOUVER, BC, March 17, 2021 /PRNewswire/ - Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) ("Hapbee" or the "Company"), a wellness technology company developing the revolutionary Hapbee wearable, is pleased to provide an update on its patent-pending bed-related magnetic signal prototype (the "Product"), currently in the development stage.
"The mechanical engineering phase for our bed-related prototype is on schedule and progressing well. We are excited to share initial renderings of the Product as we work towards a functional proof-of-concept prototype, a key milestone in the Product development process," said Scott Donnell, CEO of Hapbee. "Thanks to initiatives like the upcoming World Sleep Day on March 19th, there is growing global awareness around the importance of optimizing healthy sleep habits – a core inspiration behind our Product."
Preliminary Product Details and Timeline
With four coils in its industrial design, the Product is intended to be capable of delivering multiple magnetic fields across different parts of the body. Furthermore, the Company has narrowed down materials and soft goods selection for the Product's functionality, flexibility, and overall aesthetic. The prototype development program for the Product is scheduled to be completed in Q3 of this year.
Pending successful prototype development completion, the Product will transmit Hapbee signals such as Sleepy and Relax and offer scheduled signal playback functionality enabled via the Hapbee Companion App or a dedicated control panel.
About Hapbee
Hapbee is a wearable magnetic field technology company that aims to help people choose how they feel. Powered by patented ultra-low radio frequency energy (ulRFE®) technology invented and licensed by EMulate Therapeutics, Inc., Hapbee delivers low-power electromagnetic signals designed to produce sensations such as Happy, Alert, Focus, Relax, Calm and Sleepy.
You can learn more about how Hapbee works at www.hapbee.com/science
Forward-Looking Information Disclaimer
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Any statements about the progress towards a functional prototype and the timing of completion thereof; the design and capabilities of the Product; the final Product may not appear as shown in the rendering in this news release; more renderings being available on the Company's website; the materials that will be used in the Product and growing global awareness around the importance of optimizing healthy sleep habits, are all forward-looking information. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements and information are based on numerous assumptions regarding the Company's ability to develop a prototype with the materials and within the timeline as expected; the final Product resembling the rendering in this news release; the Company providing new renderings on its website as prototype development advance; a growing global awareness of optimizing healthy sleep habits; and the Product performing as intended.
Factors that could cause the actual results to differ materially from those in the forward-looking statements include, a functional prototype may not perform as expected or may be delayed; the actual Product capabilities may not be as expected; a shortage in supply of materials may result in reduced functionality, flexibility or aesthetic of the Product; the Company may not update its website with new renderings of the Product; the final Product may appear significantly different from the rendering; changes in legislation and regulations; increase in operating costs; equipment failures; failure of counterparties to perform their contractual obligations; litigation; the loss of key directors, employees, advisors or consultants and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These risks, uncertainties and assumptions include, but are not limited to, those described in Hapbee's prospectus dated October 26, 2020, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Hapbee Technologies Inc.
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