Shareholders Elect Two New Directors Following Recent Annual General Meeting
VANCOUVER, British Columbia, June 28, 2024 (GLOBE NEWSWIRE) -- Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) (“Hapbee” or the “Company”), the digital wellness technology company, is pleased to announce that it has launched a first-of-kind, alcohol-free mood enhancing experience at a popular non-alcohol pub in Dublin, Ireland. The experience allows patrons to enhance their evening out with friends by enjoying a flight of Hapbee digital moods as a complement to the non-alcoholic beverage of their choice.
The experience first launch with a kick-off event on May 11 in at Board Games Bar & Cafe, an alcohol-free pub in Dublin, and was developed in coordination with the pub’s owner – well known Irish event and hospitality operator BodyTonic.
“A growing number of consumers are turning to non-alcoholic versions of their favourite beers and cocktails as part of the global trend toward healthier choices. Some entirely and others partially as a means of limiting their overall alcohol intake,” said Yona Shtern, CEO of Hapbee. “Affording them a way to still enjoy the feeling of alcohol digitally as a complement to enjoying the taste without any of the side effects is a perfect use case for Hapbee.”
The working partnership between BodyTonic and Hapbee is the first such implementation for both companies. The plan is to gauge consumer feedback and iterate on the user experience with the ultimate objective of expanding the Hapbee experience into more bars and event festivals to exposing many more consumers to a first-time experience of Hapbee.
"At BodyTonic we've always been very interested in what the future of hospitality might look like, it's why we opened a non-alcoholic bar in Dublin of all places,” said Chris Raymond, BodyTonic’s VP of Marketing. “When Hapbee approached us about trialing their product in a purely social environment, we were very interested to see how it might elevate our customers' experience. With Board our vision has always been to create a non-alcoholic pub that still had the feeling & energy of an Irish pub, just without the alcohol. The Hapbee product has been a compelling addition to how we are going about achieving that vision."
Hapbee Names New Board Members as Shareholders Approve Expansion to Equity Pool
At the Annual General Meeting held on June 12, 2024, the shareholders ratified the increase of the Board of Directors to eight members, all incumbent directors being re-appointed, and Jaylen Brown and Rizwan Shah being elected as new directors of the Company. The Board of Directors have also appointed Jaylen Brown as Chief Innovation Officer, and Rizwan Shah as Chief Commercial Officer of the Company.
Shareholders also ratified the Company’s amended Stock Option Plan and amended Restricted Share Unit Plan.
On April 30, 2024, 2,617,250 outstanding Restricted Stock Units settled for Subordinate Voting Shares of the Company.
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 Hapbee.com and through a growing network of select distributors.
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. 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 the Company’s ability to meet its planned product marketing and development initiatives and the Company’s ability to achieve its e-commerce rollout and full-scale commercial launch as anticipated.
Factors that could cause the actual results to differ materially from those in the forward-looking statements include, delays in design, production, manufacturing, development or releases of signal blends, collection of data from customer use, or the Company may not be able to achieve its targets as anticipated or at all; 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 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. 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.
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