Hapbee Received Commitments for $2.785 Million From Qualified Investors

Rhea-AI Summary

Hapbee Technologies, Inc. announces a non-brokered private placement offering with commitments totaling CAD$2,785,000. The company clarifies that the offering is pending final approval from the TSX Venture Exchange. Jaylen Brown and Rizwan Shah are set to join as Chief Innovation Officer and Chief Commercial Officer, respectively.

VANCOUVER, British Columbia, April 05, 2024 (GLOBE NEWSWIRE) -- Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) (“Hapbee” or the “Company”), the digital wellness technology company has announced on March 26, 2024, that it received commitments for a non-brokered private placement of units of the Company for aggregate gross proceeds to the Company of CAD$2,785,000 (the “Offering”). The Company wishes to clarify that the Offering has not closed yet and the closing of the Offering remains subject to the review and final approval of the TSX Venture Exchange. After the closing of the Offering, Jaylen Brown will join Hapbee as Chief Innovation Officer and Rizwan Shah will join as Chief Commercial Officer.

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 is the total amount of the non-brokered private placement offering announced by Hapbee Technologies, Inc.?

Hapbee Technologies, Inc. announced a non-brokered private placement offering with commitments totaling CAD$2,785,000.

Is the non-brokered private placement offering already closed?

The non-brokered private placement offering by Hapbee Technologies, Inc. has not closed yet and is subject to the review and final approval of the TSX Venture Exchange.

Who will join Hapbee Technologies, Inc. as the Chief Innovation Officer?

Jaylen Brown is set to join Hapbee Technologies, Inc. as the Chief Innovation Officer.

Who is appointed as the Chief Commercial Officer of Hapbee Technologies, Inc.?

Rizwan Shah will join Hapbee Technologies, Inc. as the Chief Commercial Officer.