Hapbee Appoints Mr. Abdulla Al Zain to Board of Directors

Rhea-AI Summary

Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1), a leading provider of wellness wearable technology, has appointed Mr. Abdulla Al Zain to its Board of Directors effective September 16th, 2024. This appointment signifies Hapbee's commitment to expand in the Middle East and globally. Mr. Al Zain, who succeeds Robert Dzisiak, brings extensive experience in hospitality, sports, and financial services across Europe and the Middle East.

Yona Shtern, CEO and Chairman of Hapbee, expressed excitement about the company's direction and Mr. Al Zain's potential contributions to implementing their aggressive growth strategy. The company expects to provide business development updates in the coming weeks. Additionally, Hapbee granted 8,257,905 Restricted Stock Units (RSUs) to Consultants, with 4,208,074 RSUs issued to Officers of the Company on September 17, 2024.

Positive

• Appointment of Mr. Abdulla Al Zain to the Board of Directors, bringing valuable experience and connections in key markets
• Potential expansion opportunities in the Middle East and globally
• Upcoming business development updates expected in the coming weeks

Negative

• Issuance of 8,257,905 Restricted Stock Units, which may lead to potential dilution for existing shareholders

Appointment indicates Hapbee’s commitment to expand in the Middle East and globally

MONTRÉAL, Sept. 26, 2024 (GLOBE NEWSWIRE) -- CNW Telbec/ - Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) ("Hapbee" or the "Company"), a leading provider of wellness wearable technology, is pleased to announce that Mr. Abdulla Al Zain has been appointed as an additional director on the Board effective September 16^th, 2024. Mr. Al Zain succeeds Robert Dzisiak, who has served as a member of the Board since Hapbee's inception. The company thanks Mr. Dzisiak for his service.

Mr. Abdulla Al Zain brings a wealth of experience across a number of critical asset classes for Hapbee, such as hospitality, sports and financial services, particularly across Europe and the Middle East. He is the Chairman and Managing Director of Infinity Capital, a diversified global investment company; Board Member of GFH Financial Group, President of FC Cordoba and Board Member of Bapco Energies.

"Thanks to our dedicated shareholder base and leadership team, Hapbee continues to expand into new sectors and market verticals," stated Yona Shtern, CEO and Chairman of the Board of Hapbee. "I am incredibly excited about where the Company is headed for our one-of-a-kind wellness platform. In the past, Mr. Al Zain has demonstrated excellent leadership, and he has business contacts in a number of vertical markets and regions which may present tremendous opportunities for Hapbee going forward. Mr. Al Zain will be a welcomed addition to the Board of Hapbee in implementing our aggressive growth strategy which includes significant plans in the Middle East.”

With several initiatives underway, the Company expects to provide business development updates in the coming weeks.

On September 17, 2024, Hapbee granted Eight Million Two Hundred Fifty-Seven Thousand Nine Hundred Five (8,257,905) Restricted Stock Units (“RSUs”) to Consultants of which Four Million Two Hundred Eight Thousand Seventy Four (4,208,074) RSUs were issued to Officers of the Company. The RSUs will be eligible to be settled for Subordinate Voting Shares of the Company.

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. 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 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.

Media Contact: Jonathan Sheeri
jon@hapbee.com
T: 1 888-841-7086
www.hapbee.com

FAQ

Who is the new Board member appointed by Hapbee Technologies (HAPBF)?

Mr. Abdulla Al Zain has been appointed as an additional director on the Board of Hapbee Technologies (HAPBF) effective September 16th, 2024.

What experience does Mr. Abdulla Al Zain bring to Hapbee Technologies (HAPBF)?

Mr. Al Zain brings extensive experience in hospitality, sports, and financial services, particularly across Europe and the Middle East. He holds several key positions, including Chairman and Managing Director of Infinity Capital and Board Member of GFH Financial Group.

How many Restricted Stock Units (RSUs) did Hapbee Technologies (HAPBF) grant on September 17, 2024?

Hapbee Technologies (HAPBF) granted 8,257,905 Restricted Stock Units (RSUs) to Consultants, of which 4,208,074 RSUs were issued to Officers of the Company.

What is Hapbee Technologies' (HAPBF) growth strategy following the new Board appointment?

Hapbee Technologies (HAPBF) is implementing an aggressive growth strategy, which includes significant plans for expansion in the Middle East and globally, leveraging Mr. Al Zain's business contacts and experience in various vertical markets and regions.