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Wearable wellness company Hapbee turns a profit
Wearable wellness company Hapbee turns a profit

The Market Online

time5 days ago

  • Business
  • The Market Online

Wearable wellness company Hapbee turns a profit

Hapbee Technologies (TSXV:HAPB), a wearable wellness company that boasts NBA Champion Jaylen Brown as a board member, achieved its first quarterly profit in Q2 2025, ended June 30, driven by strong revenue, streamlined costs and a higher gross margin Hapbee operates a proprietary platform that sends low-power digital signals through its wearable device networks designed to promote focus, relaxation or sleep Hapbee stock has given back more than 85 per cent since inception in 2020 Hapbee Technologies (TSXV:HAPB), a wearable wellness company that boasts NBA Champion Jaylen Brown as a board member, achieved its first quarterly profit in Q2 2025, ended June 30, driven by strong revenue, streamlined costs and a higher gross margin. This content has been prepared as part of a partnership with Hapbee Technologies Inc., and is intended for informational purposes only. Here are the highlights: Revenue increased by 26 per cent from Q1 2025 and by 114 per cent year-over year to US$520,323. increased by 26 per cent from Q1 2025 and by 114 per cent year-over year to US$520,323. Net income came in at US$17,988, up from a net loss of C$178,984 in Q1 and a loss of C$1.86 million year-over-year. came in at US$17,988, up from a net loss of C$178,984 in Q1 and a loss of C$1.86 million year-over-year. Gross profits improved by 45 per cent quarter-over-quarter to US$301,078. improved by 45 per cent quarter-over-quarter to US$301,078. Gross margin reached 58 per cent, up from 51 per cent in Q1, supported by higher subscription revenue and average order values. reached 58 per cent, up from 51 per cent in Q1, supported by higher subscription revenue and average order values. Operating costs fell by 20 per cent since Q1 and by 72 per cent year-over-year, reflecting leadership's cost discipline and resource efficiency. fell by 20 per cent since Q1 and by 72 per cent year-over-year, reflecting leadership's cost discipline and resource efficiency. Device unit sales grew by 38 per cent during the quarter, hitting 1,935 units, which is up by almost 6x from 325 units year-over-year. grew by 38 per cent during the quarter, hitting 1,935 units, which is up by almost 6x from 325 units year-over-year. Subscription revenue climbed by 83 per cent from Q1 to US$65,974, representing a 25 per cent gain year-over-year. The milestone quarter follows Brown's appointment alongside Ahsan Ashraf, the company's new chief technology officer, who spearheaded development of the new Hapbee App released in May 2025, leading to enhanced connectivity, usability and signal functionality directly attributable to improving user engagement and subscription revenue. The company's previous six months are marked by 198 per cent quarter-over-quarter revenue growth in Q4 2024 and 50 per cent growth in Q1 2025, respectively. Hapbee's upcoming growth initiatives include the launch of a consumer full-body mattress topper in Q3, followed by a new version of its neckband daily wearable in Q4, amid ongoing marketing efforts with partners Snooze Mattress and defense innovator Liberty Alliance in the U.S., and with German spa equipment specialist Gharieni in Europe and the Middle East. Leadership insights 'This quarter represents a significant milestone for Hapbee and we are delighted to share with our shareholders that we have achieved three consecutive quarters of growth,' Riz Shah, Hapbee Technologies' chairman, stated in Friday's news release. 'Achieving profitability is a major step forward, and we remain disciplined in sustaining this momentum in the quarters ahead.' About Hapbee Technologies Hapbee is a wearable wellness technology developer. The company operates a proprietary platform that sends low-power digital signals through its device networks designed to promote focus, relaxation or sleep. Hapbee stock (TSXV:HAPB) is up by 5.88 per cent on the news trading at C$0.09 as of 11:03 am ET. The stock has given back more than 85 per cent since inception in 2020. Join the discussion: Find out what everybody's saying about this wearable technology stock on the Hapbee Technologies Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.

Hapbee Announces CDN$1.5M Private Placement Led by Company Executive; Announces Appointment of Ahsan Ashraf as Chief Technology Officer
Hapbee Announces CDN$1.5M Private Placement Led by Company Executive; Announces Appointment of Ahsan Ashraf as Chief Technology Officer

Yahoo

time25-06-2025

  • Business
  • Yahoo

Hapbee Announces CDN$1.5M Private Placement Led by Company Executive; Announces Appointment of Ahsan Ashraf as Chief Technology Officer

VANCOUVER, British Columbia, June 25, 2025 (GLOBE NEWSWIRE) -- Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) ('Hapbee' or the 'Company'), the digital wellness technology company, is pleased to announce a non-brokered private placement consisting of up to 15,070,000 units ('Units') at a price of $0.10 per Unit for aggregate gross proceeds of up to $1,507,000 (the 'Offering'). Each Unit will consist of one subordinate voting common share of the Company (a 'Share') and one-half of one common share purchase warrant (each whole warrant, a 'Warrant'). Each Warrant will be exercisable for one additional Share of the Company at a price of $0.20 CAD for two years from the date of issuance. Building upon the company's significant growth over the past two fiscal quarters, the proceeds from the Offering will be strategically used to advance Hapbee's growth trajectory. This includes supporting sales expansion initiatives, building brand awareness, and deepening customer engagement through enhanced marketing and distribution. A portion of the funds will also be invested into ongoing product development—enhancing Hapbee's proprietary signal library, developing of next-gen Hapbee devices, and advancing mobile app functionality. Additionally, the Company will allocate capital toward improving operating efficiencies, including supply chain optimization and cost-saving measures, to support scalable growth into 2025 and beyond. The Company is also pleased to announce the appointment of Ahsan Ashraf as its new Chief Technology Officer ('CTO'). Mr. Ashraf is participating in the Offering, underscoring his confidence in the Company's mission and future. Mr. Ashraf brings over two decades of experience in senior product and technology leadership roles, having served with global tech leaders such as Apple, HP, and Dell. He has a proven track record in hardware and software innovation, with deep expertise in leading teams through concept, prototyping, and commercial launch. Prior to assuming the CTO role, Mr. Ashraf served as an advisor to Hapbee and was instrumental in shaping the Company's product roadmap and long-term technology strategy. Mr. Ashraf's insider purchase aligns company leadership with shareholders, demonstrating strong internal belief in Hapbee's roadmap and reinforcing the Company's focus on transparency, governance, and sustainable growth. "We are thrilled to welcome Ahsan to the Hapbee executive team," said Yona Shtern, CEO of Hapbee. "As an advisor, Ahsan has already made a significant impact on our product strategy and innovation roadmap. His decision to personally invest in the Company through this financing reflects strong alignment with our vision and sends a powerful message to our investors and stakeholders—that our leadership team is deeply committed, both operationally and financially, to Hapbee's continued success." The closing date will be on or about July 2, 2025 or such later date as the Company may determine. Closing will be subject to receipt of conditional approval by the TSX Venture Exchange (the 'Exchange'). It is anticipated that an officer of the Company will acquire Units under the Offering. Such participation will be considered to be 'related party transactions' 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 intends to rely 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 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, is expected to exceed 25% of the Company's market capitalization (as determined under MI 61-101). The securities referred to in this news release 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 applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States. About 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 Blends and Routines utilizes patented ultra-low radio frequency energy (ulRFE®), designed to help optimize users' sleep, productivity, recovery, and downtime. Hapbee devices and subscriptions are available for purchase at and through a growing network of select distributors. You can learn more about how Hapbee works at Forward-Looking Statements This news release contains 'forward-looking information' which may include, but is not limited to, statements with respect to 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. Investor RelationsRenmark Financial Communications Filippone: bfilippone@ (416) 644-2020 or (514) Media RelationsTheory CommunicationsAndrea Hamilton: andrea@ Ken Adessky - Corporate Secretary1 888 841 7086invest@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Hapbee Issues Clarification of June 24, 2025 Press Release on Q1 2025 Financial Results
Hapbee Issues Clarification of June 24, 2025 Press Release on Q1 2025 Financial Results

Yahoo

time25-06-2025

  • Business
  • Yahoo

Hapbee Issues Clarification of June 24, 2025 Press Release on Q1 2025 Financial Results

Following a 198% sales surge in Q4, Hapbee added 191% revenue growth in Q1 2025 while reducing operating expenses by 62% VANCOUVER, British Columbia, June 25, 2025 (GLOBE NEWSWIRE) -- Hapbee Technologies Inc. (TSXV: HAPB | OTCQB: HAPBF), ('Hapbee' or the 'Company'), the digital wellness technology company pioneering the science of bio-streaming, announces this clarification of its earlier press release dated June 24, 2025. This clarification is being issued at the request of the Canadian Investment Regulatory Organization (CIRO). Building on the momentum of Q4 2024, Hapbee entered 2025 with continued growth in sales - delivering meaningful growth in sales, notable reductions in operating expenses, and strategic improvements across its product and platform ecosystem. The Company's Q1 performance results underscore Hapbee's disciplined focus on operational excellence, improved efficiencies and user-centric product innovation. Q1 2025 Highlights Device Sales Growth: Unit sales more than tripled year-over-year in Q1 (from 338 to 1,404) and nearly 50% over Q4 2024 (from 941 to 1,404). This followed a 198% increase in device sales Q4 2024 over Q3 2024 reflecting strong consumer demand and effective activation strategies across digital and retail channels. Operational Restructuring: A company-wide cost optimization program resulted in a meaningful reduction in operating expenses of 62% as compared to Q4 2024 (from $1.6M to $584K) with savings realized through lower overhead, consulting fees, and streamlined administration, while preserving capital for high-impact R&D and commercial rollout of our next-gen wearable lineup - including the upcoming consumer launch of the Immersive Mattress Topper and Neckband V2 later in 2025. Platform Modernization: Hapbee's redesigned mobile app and website launched in the first half of Q2, introducing a more intuitive user experience, enhanced personalization, and improved subscription management - all key levers for recurring revenue growth. Ambassador Program Update: Human performance expert Gary Brecka engaged the wellness community, complementing existing brand advocates such as Jaylen Brown, Jason Kidd and others in expanding Hapbee's presence in science-backed wellness. Revised Messaging Integrated Across All Platforms: Hapbee revised its marketing messaging to focus on seven of the most predominant wellness challenges facing consumers – sleep, focus, stress, anxiety, energy, body aches/strains and dependency on caffeine, smoking and vaping – creating a needs-driven yet multi-solution wellness platform across Hapbee's website, Hapbee App and social campaigns. Strategic Continuity from 2024 Hapbee's Q1 performance builds on the 2024 results, which included: Device sales revenue increased 198% quarter-over-quarter from ($125K to $375K) driven by stronger customer engagement and education. Ambassador-led campaigns powered a surge in brand awareness and digital demand, funded by earlier private placements. Retail footprint expanded to over 380 Target locations and boosting national consumer access. Jumeirah Group partnership launched, integrating Hapbee into luxury spa programs with global expansion underway. Affordable Smart Sleep Membership introduced at $10/month or $99/year, widening accessibility for sleep-focused users. Platform upgrades underway, including a next-gen mobile app and redesigned website to drive user retention and subscription growth. These initiatives allowed for continuation of the Company's current momentum and reinforce the Hapbee mission to make wellness accessible, personalized, and effective for everyone. '2025 is off to a strong start,' said Riz Shah, Chief Commercial Officer of Hapbee. 'We are proud to have achieved a combination of accelerating revenue and disciplined cost control, signaling a scalable growth model.' About Hapbee Technologies Inc. Hapbee is a digital wellness technology company pioneering bio-streaming wearables designed to help people optimize sleep, focus, mood, and recovery. Hapbee's proprietary technology delivers safe, non-invasive signals that promote well-being—all controlled through an intuitive mobile app. The Company's financial statements and management's discussion and analysis for the period ended March 31, 2025 are available on SEDAR+ at and on Hapbee's investor website at Learn more at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves notable risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: that Hapbee will be able to complete its business objectives as anticipated; Hapbee's industry and its business, which may negatively impact, and may continue to negatively impact, Hapbee and may materially adversely affect its investments, results of operations, financial condition and Hapbee's ability to obtain additional equity or debt financing, and satisfy its financial obligations; circumstances may change resulting in the use of proceeds; general economic conditions; future growth potential; prices of its securities; liquidity; ability to access capital markets; environmental matters; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Hapbee. The forward-looking information is stated as of the date of this news release and Hapbee assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. For further information, please contact: Ken Adessky, Corporate Secretary, Hapbee Technologies Inc. Phone: (514) 802-2566 Email: yona@ Investor Relations Renmark Financial Communications Inc. Bettina Filippone: bfilippone@ Tel: (416) 644-2020 or (514) 939-3989 Media Relations Theory Communications Andrea Hamilton: andrea@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Hapbee Delivers Breakout Q1 2025: Record Growth, Leaner Operations, and a Clear Path to Scalable Profitability
Hapbee Delivers Breakout Q1 2025: Record Growth, Leaner Operations, and a Clear Path to Scalable Profitability

Globe and Mail

time24-06-2025

  • Business
  • Globe and Mail

Hapbee Delivers Breakout Q1 2025: Record Growth, Leaner Operations, and a Clear Path to Scalable Profitability

VANCOUVER, British Columbia, June 24, 2025 (GLOBE NEWSWIRE) -- Hapbee Technologies Inc. (TSXV: HAPB | OTCQB: HAPBF), ('Hapbee' or the 'Company'), the digital wellness technology company pioneering the science of bio-streaming, announced today its operational and strategic highlights for Q1 2025. Building on the momentum of its record-breaking Q4 2024, Hapbee entered 2025 with exceptional velocity - delivering substantial growth in sales, significant reductions in operating expenses, and strategic improvements across its product and platform ecosystem. The Company's Q1 performance results underscore Hapbee's disciplined focus on operational excellence, profitability, and user-centric product innovation. Q1 2025 Highlights Accelerated Device Sales: Unit sales more than tripled year-over-year and surged nearly 50% over Q4 2024 (following a 198% increase in device sales Q4 2024 over Q3 2024) reflecting strong consumer demand and effective activation strategies across digital and retail channels. Successful Operational Restructuring Supports Growth: A company-wide cost optimization program resulted in a substantial reduction in operating expenses of 62% as compared to Q4 2024 with savings realized through lower overhead, consulting fees, and streamlined administration, while preserving capital for high-impact R&D and commercial rollout of our next-gen wearable lineup - including the upcoming consumer launch of the Immersive Mattress Topper and Neckband V2 later in 2025. Strengthened Margins: Gross margin improvements were realized through a combination of stable cost of goods and refined pricing strategies, with additional supply chain optimizations underway. Platform Modernization: Hapbee's redesigned mobile app and website launched in the first half of Q2, introducing a more intuitive user experience, enhanced personalization, and improved subscription management - all key levers for recurring revenue growth. Ambassador Expansion: Human performance expert Gary Brecka engaged the wellness community, complementing existing brand advocates such as Jaylen Brown, Jason Kidd and others in expanding Hapbee's presence in science-backed wellness. Revised Messaging Integrated Across All Platforms: Hapbee revised its marketing messaging to focus on seven of the most predominant wellness challenges facing consumers – sleep, focus, stress, anxiety, energy, body aches/strains and dependency on caffeine, smoking and vaping – creating a needs-driven yet multi-solution wellness platform across Hapbee's website, Hapbee App and social campaigns. Strategic Continuity from 2024 Hapbee's Q1 performance builds on a transformative 2024, which included: Device sales revenue increased 198% quarter-over-quarter, with unit shipments doubling, driven by stronger customer engagement and education. Ambassador-led campaigns powered a surge in brand awareness and digital demand, funded by earlier private placements. Retail footprint expanded to over 380 Target locations and boosting national consumer access. Jumeirah Group partnership launched, integrating Hapbee into luxury spa programs with global expansion underway. Affordable Smart Sleep Membership introduced at $10/month or $99/year, widening accessibility for sleep-focused users. Platform upgrades underway, including a next-gen mobile app and redesigned website to drive user retention and subscription growth. These initiatives created a springboard for the Company's current momentum and reinforce its mission to make wellness accessible, personalized, and effective for everyone. '2025 is off to a powerful start,' said Riz Shah, Chief Commercial Officer of Hapbee. 'We are proud to have achieved the rare combination of accelerating revenue and disciplined cost control, signaling a scalable growth model. Hapbee is now positioned to enter its most capital-efficient phase yet, and we are incredibly excited for the Hapbee community and our shareholders.' About Hapbee Technologies Inc. Hapbee is a digital wellness technology company pioneering bio-streaming wearables designed to help people optimize sleep, focus, mood, and recovery. Hapbee's proprietary technology delivers safe, non-invasive signals that promote well-being—all controlled through an intuitive mobile app. The Company's financial statements and management's discussion and analysis for the period ended March 31, 2025 are available on SEDAR+ at and on Hapbee's investor website at Learn more at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: that Hapbee will be able to complete its business objectives as anticipated; Hapbee's industry and its business, which may negatively impact, and may continue to negatively impact, Hapbee and may materially adversely affect its investments, results of operations, financial condition and Hapbee's ability to obtain additional equity or debt financing, and satisfy its financial obligations; circumstances may change resulting in the use of proceeds; general economic conditions; future growth potential; prices of its securities; liquidity; ability to access capital markets; environmental matters; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Hapbee. The forward-looking information is stated as of the date of this news release and Hapbee assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Media Relations Theory Communications Andrea Hamilton: andrea@

Hapbee Delivers Breakout Q1 2025: Record Growth, Leaner Operations, and a Clear Path to Scalable Profitability
Hapbee Delivers Breakout Q1 2025: Record Growth, Leaner Operations, and a Clear Path to Scalable Profitability

Associated Press

time24-06-2025

  • Business
  • Associated Press

Hapbee Delivers Breakout Q1 2025: Record Growth, Leaner Operations, and a Clear Path to Scalable Profitability

VANCOUVER, British Columbia, June 24, 2025 (GLOBE NEWSWIRE) -- Hapbee Technologies Inc. (TSXV: HAPB | OTCQB: HAPBF), ('Hapbee' or the 'Company'), the digital wellness technology company pioneering the science of bio-streaming, announced today its operational and strategic highlights for Q1 2025. Building on the momentum of its record-breaking Q4 2024, Hapbee entered 2025 with exceptional velocity - delivering substantial growth in sales, significant reductions in operating expenses, and strategic improvements across its product and platform ecosystem. The Company's Q1 performance results underscore Hapbee's disciplined focus on operational excellence, profitability, and user-centric product innovation. Q1 2025 Highlights Strategic Continuity from 2024 Hapbee's Q1 performance builds on a transformative 2024, which included: These initiatives created a springboard for the Company's current momentum and reinforce its mission to make wellness accessible, personalized, and effective for everyone. '2025 is off to a powerful start,' said Riz Shah, Chief Commercial Officer of Hapbee. 'We are proud to have achieved the rare combination of accelerating revenue and disciplined cost control, signaling a scalable growth model. Hapbee is now positioned to enter its most capital-efficient phase yet, and we are incredibly excited for the Hapbee community and our shareholders.' About Hapbee Technologies Inc. Hapbee is a digital wellness technology company pioneering bio-streaming wearables designed to help people optimize sleep, focus, mood, and recovery. Hapbee's proprietary technology delivers safe, non-invasive signals that promote well-being—all controlled through an intuitive mobile app. The Company's financial statements and management's discussion and analysis for the period ended March 31, 2025 are available on SEDAR+ at and on Hapbee's investor website at Learn more at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: that Hapbee will be able to complete its business objectives as anticipated; Hapbee's industry and its business, which may negatively impact, and may continue to negatively impact, Hapbee and may materially adversely affect its investments, results of operations, financial condition and Hapbee's ability to obtain additional equity or debt financing, and satisfy its financial obligations; circumstances may change resulting in the use of proceeds; general economic conditions; future growth potential; prices of its securities; liquidity; ability to access capital markets; environmental matters; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking Relations Renmark Financial Communications Inc. Bettina Filippone: [email protected] Tel: (416) 644-2020 or (514) 939-3989 Media Relations Theory Communications Andrea Hamilton: [email protected]

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