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MONTREAL, November 5, 2021 / CNW / – Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) (“Hapbee” or the “Company”), the Canadian wearable technology and wellness company and creator of the banner Hapbee is pleased to announce its intention to issue up to 11,666,666 units (“Units“) as part of a private placement without intermediary at the price of $ 0.30 per Share for a total gross product of up to $ 3,500,000 (the “OfferThe capital raised from the Company’s Offering will be used for numerous initiatives, including marketing and product development.
“We are pleased to announce that the executives of Satori Capital, a leading US-based investment firm founded on the principles of conscious capitalism, will lead the funding of Hapbee,” said Yona Shtern, CEO of Hapbee. “As we accelerate our growth in the apparel wellness industry, it is essential to have stakeholders who understand and believe in the long-term vision of the company. Satori Capital is run by executives who have built and managed successful, multi-billion dollar businesses. dollar investment companies. Their guidance helped steer management teams towards creating long-term value for all stakeholders.
“We are delighted to partner with the talented Hapbee leadership team to bring this innovative and impactful technology to even more users,” said Satori co-founder. Randy Eisenman. “We’re grateful for the opportunity to align ourselves closely with such a mission-driven company whose products truly enrich people’s lives. While Hapbee has clearly had an impressive start, we believe the best is yet to come for the company and its stakeholders.
In addition, the Company is pleased to announce that members of the board of directors of Hapbee will also participate in the Offer.
Each unit will consist of one subordinate voting share of the capital of the Company (each, a “”To share“) and one subordinate voting share purchase warrant (each, a”To guarantee“), each Warrant allowing its holder to acquire one Share for a period of three years from the closing of the Offer at an exercise price of $ 0.50 by Action.
Warrants contain an acceleration option which states that if the shares are trading at or above $ 1.00 on the TSX Venture Exchange (the “To exchange“) during a period of 10 consecutive trading days after the expiration of the four-month holding period, the Company may then issue a press release reducing the expiration date to 60 days after the filing of such a press release Press.
The Company may pay an intermediation commission on the Offer up to the maximum amount authorized by the policies of the Exchange. The Company may close the Offer several times as the subscriptions are received. Each closing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.
Closing of the offering is subject to certain customary conditions, including, without limitation, approval by the Exchange. The securities to be issued under the offering will be offered by way of private placement in accordance with applicable exemptions from prospectus requirements under applicable securities laws. The securities issued under the offering will be subject to a holding period which will expire four months and one day from the closing date.
The net proceeds of the placement will be used for product development, business development, working capital and general corporate purposes.
The Offer is expected to close on or around November 15, 2021.
Satori Capital is a Texasmulti-strategy investment company based on the principles of conscious capitalism. Satori’s private equity firms partner with corporate leadership teams $ 5 million To $ 25 million EBITDAs that operate with a long-term perspective, commit to their mission or goal, and create value for all stakeholders. Satori’s alternative investment platform, Satori Alpha, creates and manages personalized portfolios designed to meet the unique objectives of sophisticated institutions, family offices and private investors. For more information, please visit www.satoricapital.com.
Canada-based Hapbee is a wearable wellness tech company that aims to help people feel better. Powered by patented Ultra-Low Radio Frequency Energy (ulRFE®) technology, Hapbee delivers low-power electromagnetic signals designed to produce sensations such as Happy, Alert, Focus, Relax and more. The Company has offices at Montreal, Vancouver, Seattle and Phoenix.
Hapbee is available for purchase at Hapbee.com.
Neither the Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any state in which such an offer, solicitation or sale would be illegal. The securities offered have not been and will not be registered under the 1933 Act and may not be offered or sold in United States the lack of registration or an applicable exemption from the registration requirements of the Act of 1933, as amended, and the application of state securities laws.
Certain statements contained in this press release may constitute “forward-looking information” within the meaning of applicable securities laws (also called forward-looking statements). Forward-looking information involves risks, uncertainties and other known and unknown factors, and may cause actual results, performance or achievements or industry results to be materially different from future results, performance or achievements or results of industry expressed or implied by this forward-looking information. information search. Forward-looking information can generally be identified by the use of terms and phrases such as “anticipate”, “believe”, “might”, “estimate”, “expect”, “feel”, “have the intention “,” could “,” plan “,” foresee “,” project “,” subject to “,” will “,” would “, and similar terms and expressions, including references to assumptions. Some of the specific forward-looking information contained in this press release includes, but is not limited to, statements regarding: Hapbee being in a position to complete the Offer; the number of securities to be issued at the close of the Offer and the gross proceeds received; the time of closing of the Offer; the payment of any intermediation commission and the form thereof; the exercise of warrants; and the use of the net proceeds of the offering.
Forward-looking information is based on a number of key expectations and assumptions made by Hapbee, including, but not limited to: the impact of the COVID-19 pandemic on the Canadian and global economy and operations of Hapbee, as well as the extent and duration of this impact; the ability of Hapbee to complete the Offer; no material change will occur until Hapbee is able to complete the Offer; any changes in laws or regulations that adversely affect Hapbee’s business; there will be a demand for Hapbee’s services and products in the future; all necessary approvals will be received and all conditions will be met or waived; and Hapbee will be able to operate as planned. Although the forward-looking information contained in this press release is based on what Hapbee considers reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans for the future, and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be interpreted as a guarantee of future performance or results, as actual results may differ materially from those expressed or implied in such forward-looking information. These risks and uncertainties include, among others, the risks associated with: Hapbee being able to achieve its business objectives as planned; the impacts of the COVID-19 pandemic on the Canadian and global economy, Hapbee’s industry and its operations, which could have a negative impact and could continue to have a negative impact on Hapbee and could have a negative impact material to its investments, results of operations, financial condition and ability to obtain additional equity or debt financing and to meet its financial obligations; the possibility for Hapbee to close the Offer; the possibility for Hapbee to continue to list its Shares on the Stock Exchange or another stock exchange; circumstances may change resulting in the use of the product; general economic conditions; potential for future growth; price of its securities; liquidity; fiscal risk; the tax laws currently in force remain unchanged; ability to access capital markets; environmental issues; and changes in laws or regulations. Management believes that the expectations reflected in the forward-looking information contained in this document are based on reasonable assumptions and information currently available; however, management cannot guarantee that actual results will be consistent with this forward-looking information.
The forward-looking information contained in this document is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects the current beliefs of management and is based on information currently available to Hapbee. Forward-looking information is set out as of the date of this press release and Hapbee assumes no obligation to update or revise such information to reflect new events or circumstances, except as required by applicable law.
SOURCE Hapbee Technologies Inc.
For more information: Please contact: Investor Relations, [email protected], 1.905.347.5569