An anonymous director reports
HAPBEE ANNOUNCES SHARES-FOR-DEBT SETTLEMENT
Hapbee Technologies Inc. has arranged to settle an aggregate of $235,954.48 owing to arm's-length suppliers and consultants of the company by the issuance of a total of 2,621,716 common shares at a deemed price of nine cents per share. The debt represents unpaid fees for goods, products and consulting services (and related expenses) that have been previously provided to the company to market approved products, assist in business development and develop additional products for the Hapbee product line, and explore in depth opportunities in the sleep areas. The company intends to complete the shares-for-debt settlement to preserve cash for future operations. The company's board of directors believe that the shares-for-debt settlement is in the best interests of the company and has unanimously approved the shares-for-debt settlement. Completion of the shares-for-debt settlement is subject to the acceptance of the TSX Venture Exchange.
All securities issued pursuant to the shares-for-debt settlement will also be subject to resale restrictions in Canada for a period of four months and a day from their date of issuance.
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 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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