Hapbee Addresses Issuance of Failure-to-File Cease Trade Order

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Dec 07, 2022, 16:31 ET

VANCOUVER, BC, Dec. 7, 2022 /PRNewswire/ - Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) ("Hapbee" or the "Company"), announces a delay with regard to the filing of its Q3 financial statements for the period ended September 30, 2022 and the related management's discussion and analysis and certifications (collectively, the "Filings") by the filing deadline of November 29, 2022. As a result, a Failure-to-File Cease Trade Order (the "FFCTO") has been issued against the Company, at the request of the British Columbia Securities Commission ("BCSC"), the Investment Industry Regulatory Organization of Canada ("IIROC") issued a suspension from trading for the Company on December 6, 2022.

Before the FFCTO can be lifted, Hapbee must complete a Reinstatement Application and the Filings and submit them to the TSX Venture Exchange for review. With the Filings currently being finalized by Hapbee's management and board of directors, the Company anticipates completing the aforementioned documentation by the end of this week.

A copy of the FFCTO has been made available for review on the Canadian Securities Administrators' website. The Company expects the FFCTO to remain in place until such time as the Filings have been filed and the FFCTO is revoked.

Hapbee confirms that its business has not changed, and there are no changes to its current business plans. The Company would like to thank the TSX Venture Exchange for its assistance in this matter.

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 www.hapbee.com/science.

Forward-Looking Statements

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.

SOURCE Hapbee Technologies Inc.