Correction of Options and RSUs Grant
Nov 27, 2020, 17:30 ET
VANCOUVER, BC, Nov. 27, 2020 /PRNewswire/ - Hapbee Technologies, Inc. (TSXV: HAPB) ("Hapbee" or the "Company"), the Company wishes to clarify that, further to the news release dated November 13, 2020, it granted 4,266,875 (rather than 4,779,000, as previously reported) incentive stock options (the "Options") to officers, directors and consultants of the Company pursuant to the Company's stock option plan (the "Option Plan").
The Company also wishes to clarify that it granted 5,466,875 (rather than 4,910,000, as previously reported) restricted stock units (the "RSUs") to officers, directors and key employees and consultants.
The Company also reports that it has previously issued an additional 52,250 finder's warrants (each a "Finder's Warrant") in connection with the convertible debenture financing dated June 25, 2020. Each Finder's Warrant entitle the holder to purchase one additional subordinated voting share from the Company at an exercise price of C$0.30 per share at any time and from time to time until June 25, 2022.
Hapbee is a wearable magnetic field technology company that aims to help people choose how they feel. Powered by patented ultra-low radio frequency energy (ulRFE®) technology invented and licensed by EMulate Therapeutics, Inc., Hapbee delivers low-power electromagnetic signals designed to produce sensations such as Happy, Alert, Focus, Relax, Calm and Sleepy.
You can learn more about how Hapbee works at www.hapbee.com/science.
Forward-Looking Information Disclaimer
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. Any statements about Hapbee's business plans or its upcoming development targets – including development of the Hapbee smartphone app, manufacturing and shipping for the Indiegogo campaign, research and development of new signals and the Company's pursuit of a public listing – are all forward-looking information. 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 present and future business strategies and the environment in which the Company will operate in the future, including, anticipated costs, and the ability to achieve its goals.
Factors that could cause the actual results to differ materially from those in the forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions, 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 include, but are not limited to, those described in Hapbee prospectus dated October 26, 2020, a copy of which is available on SEDAR at www.sedar.com, and 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. Although such statements are based on management's reasonable assumptions, there be no assurance that the listing of the common shares of the Company will occur. 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.
For more information, visit: www.hapbee.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Hapbee Technologies Inc.
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