05:00 PM EDT, 07/17/2025 (MT Newswires) -- Hapbee Technologies ( HAPBF ) on Thursday said it closed a non-brokered private placement of share units, raising $1.5 million.

The wellness-technologies company said it placed 15.07-million unit in the financing, with each priced at $0.10 amd made up of a share and one half of a two-year warrant to buy a second share for $0.20.

The company said board member Ahsan Ashraf bought $1.37-million worth of the units.

"This decision reflects what I'm witnessing on the ground," said Ashraf. "Demand for Hapbee's ( HAPBF ) technology has been strong, with frequent inventory backorders highlighting the enthusiasm from our growing customer base. The team is working with focus and intensity to sustain this momentum."

The company shares closed unchanged at $0.085 on the TSX Venture Exchange.