Hapbee Closes $6.5 Million Private Placement and Provides Corporate Update
Hapbee Technologies, a wellness technology company developing the revolutionary Hapbee wearable, is pleased to announce the closing of a financing for gross proceeds of approximately C$6.5 million (the “Offering”).
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Non-brokered Private Placement
The Offering was conducted by way of a non-brokered private placement of convertible debentures (the “Convertible Debentures”). The Convertible Debentures will be automatically converted into units of the Company, prior to or concurrent to obtaining the final receipt of a prospectus and completing the listing on a recognized Canadian stock exchange, at a conversion price of C$0.30 per unit. Each unit will consist of one subordinated voting share (the “Share”) and one half of one Share purchase warrant (each a “Warrant”), each whole Warrant entitling the holder to purchase one additional Share at an exercise price of C$0.50 per Share for a period of two years from the issuance date of the Warrant.
“Now, perhaps more than ever before, people are seeking innovative and healthy ways to manage their daily lives and the emotions that come with it — such as stress, exhaustion, and difficulty concentrating,” said Scott Donnell, CEO of Hapbee. “With the closing of this Offering, I believe we have the growth capital needed to bring our revolutionary wearable to market and help empower people to choose how they feel.”
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