01:37 PM EDT, 03/26/2024 (MT Newswires) -- Digital wellness technology company, Hapbee Technologies, Inc. ( HAPBF ) , has completed a non-brokered private placement for aggregate gross proceeds of $2.785 million.

The company issued 50.63 million units at $0.055 apiece. Each unit consists of one subordinate voting share and one warrant. Each warrant is exercisable for one share at $0.11, for three years.

Net proceeds from the offering are intended to be used for product development, manufacturing, business development, working capital and general corporate purposes.

Hapbee ( HAPBF ) also announced that Jaylen Brown will join the company as Chief Innovation Officer and Rizwan Shah will join as Chief Commercial Officer. Both participated in the round.