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Hapbee Announces Closing of Private Placement

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Hapbee Technologies, Inc. successfully closed a private placement, raising $2.8 million from qualified investors to fuel product development, market expansion, and manufacturing. The offering comprised 50.454,544 Units at a price of CAD $0.055 per Unit, resulting in the issuance of subordinate voting shares and share purchase warrants. The capital raised will be utilized for product development, manufacturing, business development, working capital, and general corporate purposes. Hapbee also welcomed Jaylen Brown as Chief Innovation Officer and Rizwan Shah as Chief Commercial Officer. The securities offered are not registered under the U.S. Securities Act and may not be sold within the United States.
Hapbee Technologies, Inc. ha chiuso con successo un collocamento privato, raccogliendo 2,8 milioni di dollari da investitori qualificati per finanziare lo sviluppo del prodotto, l'espansione del mercato e la fabbricazione. L'offerta comprendeva 50.454,544 unità al prezzo di 0,055 CAD per unità, risultando nell'emissione di azioni a voto limitato e warrant per l'acquisto di azioni. Il capitale raccolto sarà utilizzato per lo sviluppo del prodotto, la fabbricazione, lo sviluppo aziendale, il capitale di lavoro e scopi aziendali generali. Hapbee ha anche accolto Jaylen Brown come Direttore dell'Innovazione e Rizwan Shah come Direttore Commerciale. I titoli offerti non sono registrati secondo il U.S. Securities Act e non possono essere venduti negli Stati Uniti.
Hapbee Technologies, Inc. cerró con éxito una colocación privada, recaudando 2,8 millones de dólares de inversores cualificados para financiar el desarrollo de productos, la expansión de mercado y la fabricación. La oferta consistió en 50.454,544 Unidades a un precio de 0,055 CAD por Unidad, resultando en la emisión de acciones subordinadas con derecho a voto y warrants de compra de acciones. Los fondos recaudados se utilizarán para el desarrollo de productos, fabricación, desarrollo empresarial, capital de trabajo y fines corporativos generales. Hapbee también dio la bienvenida a Jaylen Brown como Director de Innovación y a Rizwan Shah como Director Comercial. Los valores ofrecidos no están registrados bajo la Ley de Valores de EE. UU. y no pueden ser vendidos dentro de Estados Unidos.
Hapbee Technologies, Inc.는 사모 플레이스먼트를 성공적으로 마감하여 자격을 갖춘 투자자들로부터 280만 달러를 모집하여 제품 개발, 시장 확장 및 제조를 촉진했습니다. 이 제안은 단위당 CAD $0.055의 가격으로 50,454.544 단위로 구성되었으며, 이는 소액투표주 및 주식매입권을 발행하는 결과를 낳았습니다. 모금된 자본금은 제품 개발, 제조, 비즈니스 개발, 운영자본 및 일반 기업 목적에 사용될 것입니다. Hapbee는 또한 Jaylen Brown을 혁신 최고 책임자로, Rizwan Shah를 상업 최고 책임자로 맞이했습니다. 제공된 증권은 미국 증권법에 따라 등록되지 않았으며 미국 내에서 판매될 수 없습니다.
Hapbee Technologies, Inc. a réussi à clôturer un placement privé, levant 2,8 millions de dollars auprès d'investisseurs qualifiés pour financer le développement de produits, l'expansion du marché et la fabrication. L'offre comprenait 50.454,544 Unités à un prix de 0,055 CAD par Unité, résultant en l'émission d'actions à droit de vote subalterne et de bons de souscription d'actions. Les capitaux levés seront utilisés pour le développement de produits, la fabrication, le développement des affaires, le fonds de roulement et les objectifs généraux de l'entreprise. Hapbee a également accueilli Jaylen Brown en tant que Directeur de l'Innovation et Rizwan Shah en tant que Directeur Commercial. Les titres offerts ne sont pas enregistrés sous le U.S. Securities Act et ne peuvent pas être vendus aux États-Unis.
Hapbee Technologies, Inc. hat erfolgreich eine Privatplatzierung abgeschlossen und 2,8 Millionen Dollar von qualifizierten Investoren eingenommen, um die Produktentwicklung, Markterweiterung und Produktion zu finanzieren. Das Angebot umfasste 50.454,544 Einheiten zu einem Preis von CAD $0.055 pro Einheit, was zur Ausgabe von nachrangigen Stimmrechtsaktien und Aktienkaufsoptionen führte. Das aufgebrachte Kapital wird für die Produktentwicklung, Produktion, Geschäftsentwicklung, Betriebskapital und allgemeine Unternehmenszwecke verwendet werden. Hapbee hat auch Jaylen Brown als Chief Innovation Officer und Rizwan Shah als Chief Commercial Officer begrüßt. Die angebotenen Wertpapiere sind nicht unter dem US-Wertpapiergesetz registriert und dürfen nicht innerhalb der Vereinigten Staaten verkauft werden.
Positive
  • Hapbee successfully closed a private placement, raising $2.8 million for product development and market expansion.
  • The offering included 50.454,544 Units at a price of CAD $0.055 per Unit.
  • Jaylen Brown and Rizwan Shah joined Hapbee as Chief Innovation Officer and Chief Commercial Officer, respectively.
  • The securities offered are not registered under the U.S. Securities Act and may not be sold within the United States.
Negative
  • None.

Company Raises $2.8 Million From Qualified Investors to Fund Product Development, Market Expansion and Manufacturing

VANCOUVER, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) -- Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) (“Hapbee” or the “Company”), the digital wellness technology company is pleased to confirm that it has completed a non-brokered private placement of units of the Company (“Units”) for aggregate gross proceeds to the Company of CAD$2,785,000 (the “Offering”). “This capital enables us to continue to evolve our products and to expand our market presence and manufacturing” said Yona Shtern, CEO and Executive Chairman of Hapbee.

As part of the Offering, the Company issued 50.454,544 Units at a price of CAD $0.055 per Unit (the “Offering Price”), which consisted in the issuance of 50.454.544 subordinate voting shares of the Company (“Shares”) and 50.454,544 Share purchase warrants (“Warrants”) with each Warrant entitling the holder thereof to acquire one Share at a price of CAD$0.11 per Share for a period of 3 years from the closing date of the Offering.

The expiry date of the Warrants will be subject to prior acceleration, at the discretion of the Company, should the volume weighted average price of the Company’s listed Shares on the TSX Venture Exchange (“TSXV”), or any other stock exchange on which the Company’s Shares are then listed, is greater than CAD$0.40 for a period of 10 consecutive trading days, the whole in accordance with the terms of the Warrants. Each Share and Warrant issued (including the Shares underlying the Warrants) will be subject to a hold period of four months plus one day following the closing of the Offering (the “Hold Period”) pursuant to Canadian and US securities laws.

Any net proceeds received by the Company from the Offering are intended to be used for product development, manufacturing, business development, working capital and general corporate purposes. The Offering remains subject to the review and final approval of the TSXV.

The Company is also delighted to welcome Jaylen Brown who will join Hapbee as Chief Innovation Officer and Rizwan Shah who will join as Chief Commercial Officer, both participated in the round.

The securities offered pursuant to the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States (as such term is defined in Regulation S under the U.S. Securities Act) (the “United States”), and may not be offered or sold within the United States, or to, or for the account or benefit of a U.S. Person (as defined in Rule 902(k) of Regulation S under the U.S. Securities Act) or a person in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities offered hereby within the United States or to, or for the account or benefit of, U.S. persons.

About Hapbee

Hapbee is a digital wellness technology company that aims to help people take control of how they sleep, perform and feel. Hapbee’s digital wellness library of Blends and Routines utilizes patented ultra-low radio frequency energy (ulRFE®), designed to help optimize users' sleep, productivity, recovery, and downtime. Hapbee devices and subscriptions are available for purchase at Hapbee.com and through a growing network of select distributors.

You can learn more about how Hapbee works at www.hapbee.com/science.

Forward-Looking Statements

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 intended use of proceeds from the Offering are forward-looking statements. 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 meet its planned product marketing and development initiatives and the Company’s ability to achieve its e-commerce rollout and full-scale commercial launch as anticipated.

Factors that could cause the actual results to differ materially from those in the forward-looking statements include, delays in design, production, manufacturing, development or releases of signal blends, collection of data from customer use, or the Company may not be able to achieve its targets as anticipated or at all; 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 annual information form dated January 27, 2021, 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For further information contact

Media Contact: Jonathan Sheeri

jon@hapbee.com

T: 1 888-841-7086

E: invest@hapbee.com

W: www.hapbee.com


FAQ

What was the total amount raised by Hapbee in the private placement?

Hapbee raised $2.8 million from qualified investors in the private placement.

Who joined Hapbee as Chief Innovation Officer?

Jaylen Brown joined Hapbee as Chief Innovation Officer.

Are the securities offered in the private placement registered under the U.S. Securities Act?

No, the securities offered are not registered under the U.S. Securities Act and may not be sold within the United States.

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