Hapbee Enters Into Media Partnership with a360media
Will lift brand awareness for Hapbee's Digital Wellness products among US Consumers
VANCOUVER, BC, Dec. 22, 2023 /CNW/ - Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) ("Hapbee" or the "Company") is pleased to announce that it has entered into a media partnership with a360media, which will see Hapbee featured across the multi-platform media company's esteemed brands and online properties.
"We look forward to celebrating Hapbee, the next generation of wearable wellness technology, across our portfolio of leading brands," said a360media EVP & Chief Revenue Officer Carey Witmer. "Hapbee's growing user base includes some of the most respected athletes and celebrities and we look forward to sharing their life-changing stories with our audiences."
a360media titles such as Us Weekly, Star, and In Touch, First for Women, and Woman's World serve the latest culture and content to millions of fans and readers each month and offer the widest selection of entertainment media brands in publishing. As part of the agreement, a360media will become an equity partner in Hapbee and will contribute media assets, creative services, and brand strategies in return.
"As we continue to grow our omnichannel presence, we are excited to partner with a360media, one of the largest media platforms for beauty, health and wellness consumers," added Yona Shtern, CEO of Hapbee. "I am excited that this unique partnership will allow even more women and men to learn about the amazing, transformative benefits of 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 Wellness Routines utilizes patented ultra-low radio frequency energy (ulRFE®), designed to help optimize users' sleep, productivity and focus, recovery, and downtime. Hapbee devices and subscriptions are available for purchase at Hapbee.com and through a growing network of select distributors, including Target and Target.com. You can learn more about how Hapbee works at www.hapbee.com/science
accelerate360's media group, a360media, includes well-known Celebrity & Entertainment and Women's Lifestyle brands, engaging millions of consumers monthly across multichannel platforms including digital, magazine, and social media channels. The publisher's flagship Women's Group brands, First for Women and Woman's World, are the top two best-selling titles at retail, offering a time-tested lifestyle editorial formula that forges deep connections and trust. Today, one third of all magazines sold at retail in the United States are a360media titles, making the company the largest publisher in the U.S. (both in retail sales and units sold).
Today's announcement also coincides with the partial closing of a non-brokered private placement of units of the Company ("Units") for aggregate gross proceeds to the Company of CAD $112,036 (the "Offering").
As part of the Offering, the Company issued 1,400,451 Units at a price of CAD $0.08 per Unit (the "Offering Price"), which consisted in the issuance of 1,400,451 subordinate voting shares of the Company ("Shares") and 1,400,451 Share purchase warrants ("Warrants") with each Warrant entitling the holder thereof to acquire one Share at a price of CAD$0.15 per Share for a period of 2 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 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 final approval of the TSXV.
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.
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 include, but are not limited to, those described in Hapbee's annual information form dated May 2, 2022, 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.
SOURCE Hapbee Technologies Inc.
Jon Sheeri: T: 1 888-841-7086, E: [email protected], W: www.hapbee.com
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