Hapbee Announces CDN$1.5M Private Placement Led by Company Executive; Announces Appointment of Ahsan Ashraf as Chief Technology Officer

VANCOUVER, British Columbia, June 25, 2025 (GLOBE NEWSWIRE) -- Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) (“Hapbee” or the “Company”), the digital wellness technology company, is pleased to announce a non-brokered private placement consisting of up to 15,070,000 units (“Units”) at a price of $0.10 per Unit for aggregate gross proceeds of up to $1,507,000 (the “Offering”). Each Unit will consist of one subordinate voting common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable for one additional Share of the Company at a price of $0.20 CAD for two years from the date of issuance.

Building upon the company’s significant growth over the past two fiscal quarters, the proceeds from the Offering will be strategically used to advance Hapbee’s growth trajectory. This includes supporting sales expansion initiatives, building brand awareness, and deepening customer engagement through enhanced marketing and distribution. A portion of the funds will also be invested into ongoing product development—enhancing Hapbee’s proprietary signal library, developing of next-gen Hapbee devices, and advancing mobile app functionality. Additionally, the Company will allocate capital toward improving operating efficiencies, including supply chain optimization and cost-saving measures, to support scalable growth into 2025 and beyond.

The Company is also pleased to announce the appointment of Ahsan Ashraf as its new Chief Technology Officer (“CTO”). Mr. Ashraf is participating in the Offering, underscoring his confidence in the Company’s mission and future. Mr. Ashraf brings over two decades of experience in senior product and technology leadership roles, having served with global tech leaders such as Apple, HP, and Dell. He has a proven track record in hardware and software innovation, with deep expertise in leading teams through concept, prototyping, and commercial launch. Prior to assuming the CTO role, Mr. Ashraf served as an advisor to Hapbee and was instrumental in shaping the Company’s product roadmap and long-term technology strategy.

Mr. Ashraf’s insider purchase aligns company leadership with shareholders, demonstrating strong internal belief in Hapbee’s roadmap and reinforcing the Company’s focus on transparency, governance, and sustainable growth.

"We are thrilled to welcome Ahsan to the Hapbee executive team," said Yona Shtern, CEO of Hapbee. "As an advisor, Ahsan has already made a significant impact on our product strategy and innovation roadmap. His decision to personally invest in the Company through this financing reflects strong alignment with our vision and sends a powerful message to our investors and stakeholders—that our leadership team is deeply committed, both operationally and financially, to Hapbee’s continued success."

The closing date will be on or about July 2, 2025 or such later date as the Company may determine. Closing will be subject to receipt of conditional approval by the TSX Venture Exchange (the “Exchange”).

It is anticipated that an officer of the Company will acquire Units under the Offering. Such participation will be considered to be “related party transactions” within the meaning of Exchange Policy 5.9 (“Policy 5.9”) and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions(“MI 61-101”) adopted in Policy 5.9. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related party, is expected to exceed 25% of the Company’s market capitalization (as determined under MI 61-101).

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act "), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.

About Hapbee

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 ultra-low radio frequency energy (ulRFE®), designed to help optimize users' sleep, productivity, 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 .

Forward-Looking Statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to completion of the Offering, use of proceeds of the Offering and the Company’s planned operations, business strategy and developments. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the receipt of applicable regulatory approvals; closing of the Offering; anticipated product development; consumer confidence; and general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such 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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