VANCOUVER, BC, April 17,
2023 /CNW/ - Hapbee Technologies, Inc. (TSXV: HAPB)
(OTCQB: HAPBF) (FSE: HA1) ("Hapbee" or the "Company") wishes to
advise that there may be a delay in the filing of its Audited
Financial Statements and its related Management's Discussion and
Analysis, and Chief Executive Officer and Chief Financial Officer
Certifications (collectively, the "Required Disclosure"), which is
due to be filed on or before May 1,
2023 (the "Filing Deadline") pursuant to applicable
securities laws. This delay is due to the fact that Hapbee's
auditors are still completing the required work to conclude the
audit.
Hapbee has applied for a voluntary Management Cease Trade Order
under National Policy 12-203 (the "Policy") 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 expected to be imposed against its chief executive officer, its
chief financial officer, and potentially certain members of its
Board of Directors, instead of a cease trade order being imposed
against all securities of Hapbee. Such an order 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 intends to comply with the provisions of the Alternative
Information Guidelines as set out in the Policy for as long as it
remains in default, including the issuance of bi-weekly default
status reports, if necessary, each of which will be issued in the
form of a press release.
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 Wellness Routines utilizes
patented ultra-low radio frequency energy (ulRFE®),
designed to help optimize users' sleep, productivity and focus,
recovery, and downtime. Hapbee devices and subscriptions are
available for purchase at Hapbee.com and through a growing network
of select distributors.
You can learn more about how Hapbee works at
www.hapbee.com/science
Forward-Looking Statement
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 pertaining to the
anticipated filing date for the Filings, as well as statements
pertaining the expected timeline for the halt to be lifted are
forward-looking statements. 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 and intended timing to complete its Filings.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement, and are subject
to various risks, uncertainties and assumptions which include, but
are not limited to, those described in Hapbee's annual information
form dated May 2, 2022, as well as
those described in Hapbee's other disclosure documents, copies of
which are 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. Neither TSXV nor its
Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Hapbee Technologies Inc.
