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VANCOUVER, British Columbia, June 25, 2025 (GLOBE NEWSWIRE) — Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) (“Hapbee” or the “Company”), the digital wellness technology company, is pleased to announce a non-brokered private placement consisting of up to 15,070,000 units (“Units”) at a price of $0.10 per Unit for aggregate gross proceeds of up to $1,507,000 (the “Offering”). Each Unit will consist of one subordinate voting common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable for one additional Share of the Company at a price of $0.20 CAD for two years from the date of issuance.
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Building upon the company’s significant growth over the past two fiscal quarters, the proceeds from the Offering will be strategically used to advance Hapbee’s growth trajectory. This includes supporting sales expansion initiatives, building brand awareness, and deepening customer engagement through enhanced marketing and distribution. A portion of the funds will also be invested into ongoing product development—enhancing Hapbee’s proprietary signal library, developing of next-gen Hapbee devices, and advancing mobile app functionality. Additionally, the Company will allocate capital toward improving operating efficiencies, including supply chain optimization and cost-saving measures, to support scalable growth into 2025 and beyond.
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The Company is also pleased to announce the appointment of Ahsan Ashraf as its new Chief Technology Officer (“CTO”). Mr. Ashraf is participating in the Offering, underscoring his confidence in the Company’s mission and future. Mr. Ashraf brings over two decades of experience in senior product and technology leadership roles, having served with global tech leaders such as Apple, HP, and Dell. He has a proven track record in hardware and software innovation, with deep expertise in leading teams through concept, prototyping, and commercial launch. Prior to assuming the CTO role, Mr. Ashraf served as an advisor to Hapbee and was instrumental in shaping the Company’s product roadmap and long-term technology strategy.
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Mr. Ashraf’s insider purchase aligns company leadership with shareholders, demonstrating strong internal belief in Hapbee’s roadmap and reinforcing the Company’s focus on transparency, governance, and sustainable growth.
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“We are thrilled to welcome Ahsan to the Hapbee executive team,” said Yona Shtern, CEO of Hapbee. “As an advisor, Ahsan has already made a significant impact on our product strategy and innovation roadmap. His decision to personally invest in the Company through this financing reflects strong alignment with our vision and sends a powerful message to our investors and stakeholders—that our leadership team is deeply committed, both operationally and financially, to Hapbee’s continued success.”
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The closing date will be on or about July 2, 2025 or such later date as the Company may determine. Closing will be subject to receipt of conditional approval by the TSX Venture Exchange (the “Exchange”).
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It is anticipated that an officer of the Company will acquire Units under the Offering. Such participation will be considered to be “related party transactions” within the meaning of Exchange Policy 5.9 (“Policy 5.9”) and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions(“MI 61-101”) adopted in Policy 5.9. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related party, is expected to exceed 25% of the Company’s market capitalization (as determined under MI 61-101).
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