Hapbee Announces Insider Purchase of $1 Million USD via Closing of Non-Brokered Private Placement
Rhea-AI Summary
Hapbee Technologies (OTCID: HAPBF) has completed a non-brokered private placement offering, raising CA$1,507,000 in gross proceeds. Board member Ahsan Ashraf made a significant insider purchase of CA$1,370,000 worth of units, demonstrating strong confidence in the company's direction.
The offering consisted of 15,070,000 units priced at CA$0.10 per unit, with each unit including one subordinate voting common share and half of a share purchase warrant. Each whole warrant is exercisable at CA$0.20 until July 17, 2027. The company has reported two consecutive quarters of revenue growth and plans to use the proceeds for product development, business development, and working capital.
Positive
- Significant insider purchase of CA$1,370,000 by board member shows strong confidence
- Two consecutive quarters of quarter-over-quarter revenue growth reported
- Strong product demand evidenced by frequent inventory backorders
- No finder's fees paid in connection with the offering, reducing transaction costs
Negative
- Shares issued at CA$0.10 may represent dilution for existing shareholders
- Four-month hold period restricts immediate trading of new shares
- Majority of offering (91%) concentrated in single insider purchase
News Market Reaction
On the day this news was published, HAPBF declined 1.56%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Follows Prior Investment by Jaylen Brown and the New Leadership Team Underscoring Growing Confidence in Hapbee
VANCOUVER, British Columbia, July 17, 2025 (GLOBE NEWSWIRE) -- Hapbee Technologies, Inc. (TSXV: HAPB | OTCID: HAPBF) (“Hapbee” or the “Company”), a leading wearable wellness technology company, is pleased to announce that it has now closed its previously announced non-brokered offering for aggregate gross proceeds of CA
This insider transaction follows prior purchases by other members of the board and the new leadership team and reflects growing alignment and confidence in the Company’s operational progress. Hapbee has recently reported two consecutive quarters of quarter-over-quarter revenue growth, supported by increasing adoption of its wellness products.
“This decision reflects what I’m witnessing on the ground,” said Ahsan Ashraf. “Demand for Hapbee’s technology has been strong, with frequent inventory backorders highlighting the enthusiasm from our growing customer base. The team is working with focus and intensity to sustain this momentum.”
The Company recently expanded its board and executive leadership team and remains focused on operational excellence, customer satisfaction, and responsible growth.
Chairman of the Board Riz Shah commented “Ahsan’s insider purchase is a strong signal of conviction from within the boardroom. As our new CTO, his leadership goals are committed to those of our long-term shareholders, and we remain committed to executing on our new plan with discipline and clarity.”
The net proceeds raised from the Units will be used to fund product and business development, and for working capital and general corporate purposes.
Pursuant to the closing of the Offering, the Company issued a total of 15,070,000 units (the “Units”) at CA
The participation of Mr. Ashraf in the offering constituted a “related party transaction” 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 relied 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 this 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, exceeded
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Hapbee Technologies, Inc.
Hapbee Technologies is a wearable wellness technology company with a proprietary platform that delivers low-power digital signals through wearable devices. These signals are intended to help users optimize how they feel — including focus, relaxation, and sleep. Hapbee products are used by customers worldwide seeking to support their wellness routines.
You can learn more about how Hapbee works at www.hapbee.com/
Forward-Looking Statements
This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the completion of the Offering, use of proceeds of the Offering, and the Company’s planned operations, business strategy and developments. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the receipt of applicable regulatory approvals; closing of the Offering; anticipated product development; consumer confidence; and general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such 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.
On behalf of the Board of Directors:
Kenny Adessky - Corporate Secretary
1 888 841 7086
invest@hapbee.com
For further information, please contact:
Investor Relations
Renmark Financial Communications Inc.
Bettina Filippone: bfilippone@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
Media Relations
Theory Communications
Andrea Hamilton: andrea@theorycomm.com
www.theorycomm.com
FAQ
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