Hapbee Provides Update on Recent Corporate Developments - Manufactured and Shipped Over 1,800 Hapbee Wearables to Early Adopters, Fulfilled All Orders from Successful Indiegogo Campaign, Released Public Beta Version of Smartphone App
(TSXV: HAPB)
VANCOUVER, BC, Nov. 5, 2020 /CNW/ - Hapbee Technologies, Inc. (TSXV: HAPB) ("Hapbee" or the "Company"), a wellness technology company developing the Hapbee wearable product, is pleased to provide an update on its recent corporate developments.
"Earlier this year, we launched an Indiegogo campaign as a means of introducing Hapbee while gathering valuable feedback from early adopters and supporters. I'm proud to say we have fulfilled all orders from this successful pilot project," said Scott Donnell, Chief Executive Officer of Hapbee.
"We are developing more than a cool new consumer product. Hapbee is about helping people maximize their potential. The feedback we're receiving from early adopters is providing invaluable data for our team to advance and improve Hapbee prior to its larger scale commercial rollout in 2021."
Recent Key Developments from Hapbee:
Manufactured and Shipped Over 1,800 Units
Despite challenges due to the ongoing pandemic, Hapbee has manufactured and shipped approximately 1,840 units to early adopters and supporters to date, the majority of which were backers from the Company's successful Indiegogo campaign launched in Q1 2020 (see Hapbee's press release dated July 17, 2020 for further details).
Released Public Beta Version of Hapbee Companion App
Hapbee released the public beta version of its iOS and Android smartphone app on the App Store and Google Play. Core features such as Bluetooth pairing, signal selection (e.g. Happy, Alert, Focus, Relax, Calm and Sleepy), playback, and usability controls are operational. The public beta version of the Hapbee Companion App is now providing the Company with pertinent usage data, bug reports, and UX feedback. The Company intends to use this information to refine the overall Hapbee user experience.
Over the past 45 days, Hapbee users logged approximately 25,000 hours of signal play time on the Hapbee Companion App. Initial data show that the most popular usage patterns are Alert in the mornings and afternoons, and Sleepy in the late evenings.
New Corporate Website and Rebranding
Hapbee recently launched a new corporate website that features enhanced branding, an e-commerce portal, and additional educational content for prospective customers and investors. Please visit www.hapbee.com to learn more about our mission, product, and ambitious goals for the future.
Closed C$6.5 Million Private Placement and Commenced Trading on the TSX Venture Exchange
In July 2020, Hapbee announced it closed a financing for gross proceeds of approximately C$6.5 million (see Hapbee's press release dated July 17, 2020 for further details). Additionally, on October 30, 2020, the Company commenced trading on the TSX Venture exchange under the ticker symbol "HAPB".
About Hapbee
Hapbee is a wearable magnetic field technology company that aims to help people choose how they feel. Powered by patented ultra-low radio frequency energy (ulRFE®) technology invented and licensed by EMulate Therapeutics, Inc., Hapbee delivers low-power electromagnetic signals designed to produce sensations such as Happy, Alert, Focus, Relax, Calm and Sleepy.
You can learn more about how Hapbee works at www.hapbee.com/science.
Forward-Looking Information Disclaimer
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 Hapbee's business plans or its upcoming development targets – including development of the Hapbee wearable product and usage of user data to refine the overall Hapbee user experience – are all forward-looking information. 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 present and future business strategies and the environment in which the Company will operate in the future, including, anticipated costs, and the ability to achieve its goals.
Factors that could cause the actual results to differ materially from those in the forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions, 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 prospectus dated October 26, 2020, 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. Although such statements are based on management's reasonable assumptions, there be no assurance that the listing of the common shares of the Company will occur. 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.
For more information, visit: www.hapbee.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Hapbee Technologies Inc.
Scott Donnell (Email: [email protected])
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