Hapbee Technologies, Inc. announced that it has closed a non-brokered private placement of 22,380,459 units at a price of CAD 0.07 per unit for gross proceeds of CAD 1,566,632 on November 9, 2022. Each unit consist of one common share and one warrant. Each warrant entitling the holder thereof to acquire one share at a price of CAD 0.15 per share for a period of 2 years from the closing date of the transaction. Each share and warrant issued will be subject to a hold period of four months plus one day following the closing of the transaction pursuant to Canadian securities laws. Certain existing insiders of the company including members of the executive team and board of directors participated in the transaction by purchasing an aggregate of 4,416,302 units. The transaction remains subject to the final approval of the TSXV.

The company has received acceptance for filing documentation from TSX Venture Exchange with respect to the transaction. The transaction included participation from 24 placees including 7 insiders for 2,481,072 shares.