VANCOUVER, BC, Feb. 16, 2021 /PRNewswire/ - Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) ("Hapbee" or the "Company"), a wellness technology company utilizing groundbreaking magnetic field technology in its Hapbee wearable, is pleased to announce it has initiated the process to identify and appoint a new Chief Executive Officer (CEO) as it expands commercialization and development initiatives.
"When we launched Hapbee, I had three key goals for the Company: create a one-of-a-kind wellness wearable with broad market appeal, build a platform app technology that enabled our signals to play on the same product, and assemble a diverse team capable of bringing these ideas to life," said Scott Donnell, CEO and co-founder of Hapbee. "I am thrilled Hapbee has achieved each of these goals, among several others, in a relatively short time. Now, with our growth targets and development initiatives expanding in scope, so too should our leadership team, starting with a new CEO. I am confident that the Company is now positioned to attract and hire a world-class CEO with extensive experience to optimize Hapbee's enterprise value. My passion is sharing the inspiring possibilities of our technology and exploring the development of new products under the Hapbee brand. I look forward to continuing to do so alongside Hapbee's future CEO."
Mr. Donnell will continue to serve as CEO until a permanent successor is appointed. Once a suitable candidate is selected, he intends to remain in a leadership role with the Company, dedicating time to product development and marketing. Hapbee expects the CEO role to be filled within the coming months.
Hapbee Expands E-Commerce Payment Options
Hapbee is currently in the process of integrating Bread, a point-of-sale financing solutions provider, into its e-commerce platform. Implementation of Bread is intended to increase financial accessibility and enhance e-commerce conversion rates for the Hapbee wearable. Furthermore, the Company recently added PayPal as a payment option to its e-commerce platform.
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.
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 the identification and possible appointment of a new CEO, including the timing thereof; expansion of commercialization, development initiatives and growth targets; the ability of the Company to hire a world class CEO and the experience of such CEO; the effect of a new CEO on the Company's enterprise value; Mr. Donnell continuing to serve as CEO until a successor is appointed and his intentions to remain in a leadership role with the Company or at all; the integration of Bread into the Company's e-commerce platform and the intended uses of Bread; and Hapbee's business plans 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, the ability to achieve its goals, the availability of individuals wanting to take on the role of CEO at the Company with the required experience and skills to achieve the intended purposes of the new CEO, Mr. Donnell continuing to act as CEO until a successor is appointed, and Bread being able to be implemented to achieve results as anticipated.
Factors that could cause the actual results to differ materially from those in the forward-looking statements include, failure to find a suitable new CEO within anticipated timelines or at all, Mr. Donnell may not continue to act as CEO until a successor is appointed or may not remain in a leadership role, Bread may not be implemented as expected or at all and may not achieve results as anticipated, 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's 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. 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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