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Hapbee Announces Initial Closing of Upsized Non-Brokered Private Placement of $6.1 Million
Hapbee Announces Initial Closing of Upsized Non-Brokered Private Placement of $6.1 Millio...
About this update from Hapbee Technologies, Inc.
[{"type":"text","content":"\n \n \n \n Hapbee Announces Initial Closing of Upsized Non-Brokered Private Placement of $6.1 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRE SERVICES/\n \n \n MONTRÉAL,\n \n Nov. 25, 2021\n \n /CNW/ - Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) (\"Hapbee\" or the \"Company\"), the Canadian-based wearable, wellness technology company and creator of the Hapbee headband is pleased to announce the first closing of the Company's previously announced upsized non-brokered private placement of units of the Company (\"\n \n Units\n \n \") at a price of\n \n $0.30\n \n per Unit for total gross proceeds of\n \n $6,092,689\n \n (the \"\n \n Offering\n \n \"). Due to oversubscribed demand, the Company has increased the Offering to up to $\n \n 7.5\n \n million of Units.\n \n \n \n \n \n \n \n \n \n \"We would like to thank all of our new and existing shareholders for the overwhelming support received during this recent financing,\" said\n \n Yona Shtern\n \n , CEO of Hapbee. \"With an additional\n \n $6.1 million\n \n in growth capital now in our treasury, we are in a position to accelerate our growth by expanding distribution channels, increasing marketing resources while increasing our brand visibility. Our goal remains to provide as many customers as possible with the Hapbee product as we believe people deserve to be in greater control of how they feel.\"\n \n \n Each Unit consists of one subordinated voting share in the capital of the Company (each, a \"\n \n Share\n \n \") and one subordinated voting share purchase warrant (each, a \"\n \n Warrant\n \n \"), with each Warrant entitling the holder thereof to acquire one Share for a period of three years from the closing of the Offering at an exercise price of\n \n $0.50\n \n per Share.\n \n \n The net proceeds received by the Company from the Offering will be used for product development, business development, working capital and general corpor...