Mr. Yona Shtern reports

HAPBEE ANNOUNCES CLOSING OF $710K PRIVATE PLACEMENT

Hapbee Technologies Inc. has completed a non-brokered private placement of units of the company for aggregate gross proceeds to the company of $711,400.

"This capital enables us to continue to expand our market presence within the rapidly expanding digital wellness category both in the consumer and enterprise verticals," said Yona Shtern, chief executive officer and executive chairman of Hapbee.

The company recently announced distribution partnerships with Gray Matters, expanding its footprint into senior and palliative care, and with Reputable Health for the collaborative development of personalized wellness routines within Hapbee that are powered by users' bio-metric data.

As part of the offering, the company issued 7,904,450 units at a price of nine cents per unit, which consisted in the issuance of 7,904,450 subordinate voting shares of the company and 7,904,450 share purchase warrants, with each warrant entitling the holder thereof to acquire one share at a price of 15 cents per share for a period of two years from the closing date of the offering. The expiry date of the warrants will be subject to prior acceleration, at the discretion of the company, should the volume-weighted average price of the company's listed shares on the TSX Venture Exchange, or any other stock exchange on which the company's shares are then listed, is greater than 40 cents for a period of 10 consecutive trading days, the whole in accordance with the terms of the warrants. Each share and warrant issued (including the shares underlying the warrants) will be subject to a hold period of four months plus one day following the closing of the offering pursuant to Canadian securities laws.

Any net proceeds received by the company from the offering are intended to be used for product development, manufacturing, business development, working capital and general corporate purposes.

The offering remains subject to the final approval of the TSX-V.

Hapbee is complying with the management cease trade order issued by the B.C. Securities Commission effective May 2, 2023, under National Policy 12-203, pending the filing of the required disclosure via SEDAR. Hapbee is confident that the required disclosure will be filed by no later than June 30, 2023. The management cease trade order is imposed against the company's chief executive officer and its chief financial officer. There has been no cease trade order imposed against all securities of Hapbee. The MCTO will not generally affect the ability of other persons to trade the securities of Hapbee pending the filing of the required disclosure via SEDAR. Hapbee is not subject to any insolvency proceeding, and there is no other material information concerning the affairs of Hapbee that has not been generally disclosed.

About Hapbee Technologies Inc.

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 ultralow-radio-frequency energy (ulRFE), designed to help optimize users' sleep, productivity, recovery and downtime. Hapbee devices and subscriptions are available for purchase at the Hapbee website and through a growing network of select distributors.

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