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Hapbee Announces Option Grant

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(TSXV: HAPB)

VANCOUVER, BC, Feb. 17, 2021 /CNW/ - Hapbee Technologies, Inc. (TSXV: HAPB) ("Hapbee" or the "Company"), a wellness technology company utilizing groundbreaking magnetic field technology in its Hapbee wearable, is pleased to announce that it has granted stock options, exercisable to purchase up to an aggregate of 600,000 shares of the Company, to a certain consultant pursuant to the Company's stock option plan (the "Plan"). The options are exercisable at the price of C$0.80 per share until February 17, 2022, subject to any earlier termination in accordance with the Plan.

Hapbee Technologies, Inc. Logo (CNW Group/Hapbee Technologies Inc.)
Hapbee Technologies, Inc. Logo (CNW Group/Hapbee Technologies Inc.)

About Hapbee

Hapbee is a wearable magnetic field technology company that aims to help people choose how they feel. Powered by patented ultra-low Radio Frequency Energy (ulRFE®) technology invented and licensed by EMulate Therapeutics, Inc., Hapbee delivers low-power electromagnetic signals designed to produce sensations such as Happy, Alert, Focus, Relax, Calm and Sleepy.

You can learn more about how Hapbee works at www.hapbee.com/science.

Forward-Looking Information Disclaimer

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 about the size and growth rate of markets or sectors, Hapbee's business plans, e-commerce strategies or its upcoming development targets are all forward-looking information. 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 present and future business strategies and the environment in which the Company will operate in the future, including, anticipated costs, and the ability to achieve its goals.

Factors that could cause the actual results to differ materially from those in the forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions, changes in legislation and regulations, increase in operating costs, equipment failures, failure of counterparties to perform their contractual obligations, litigation, the loss of key directors, employees, advisors or consultants and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These risks, uncertainties and assumptions include, but are not limited to, those described in Hapbee's prospectus dated October 26, 2020, a copy of which is 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.

This news release contains information obtained by the Company from third parties. The Company believes such information to be accurate but has not independently verified such information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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    (Bloomberg) -- What began as a power issue for a handful of U.S. states is rippling into a shock for the world’s oil market.More than 4 million barrels a day of output -- almost 40% of the nation’s crude production -- is now offline, according to traders and executives. One of the world’s biggest oil refining centers has seen output drastically cut back. The waterways that help U.S. oil flow to the rest of the world have been disrupted for much of the week.“The market is underestimating the amount of oil production lost in Texas due to the bad weather,” said Ben Luckock, co-head of oil trading at commodity giant Trafigura Group.Brent crude surged to within 25 cents of $65 a barrel on Wednesday, a level not seen since last January. Ten months ago it slumped below $16 because of a demand shock caused by Covid-19. In the past the weather-related disruption would largely have been a U.S. issue. Now it’s unmistakably global. Crude markets in Europe are rallying as traders replace lost U.S. exports. OPEC and its allies must decide how much longer they keep millions of barrels of their supply off the market.Estimates for how long the outages may last have gotten progressively longer in recent days as analysts try to figure out the timespan involved in thawing out infrastructure, especially in those areas where freezing weather isn’t the norm.Higher EstimatesAt first, traders and consultants expected a hit to U.S. production that would last between two and three days. Now it’s looking unlikely that things will start to recover much before the weekend.That means ever more barrels are being removed from the global market. Citigroup Inc. said it expects a production loss of 16 million barrels through early March, but some trader estimates are now almost double that. Vast swaths of production in the Permian -- the heartland of U.S. shale output -- have been shut in.The result has been a surge in the value of crude barrels in other parts of the world. North Sea traders have been frantically bidding for the region’s cargoes this week as replacements are sought for U.S. crude exports. As Europe’s supplies have gotten more expensive, Asian buyers have been snapping up Middle Eastern shipments at higher premiums.And though headline crude futures are at their highest level in over a year, they’re yet to rip higher because the loss of refining capacity is equally acute. The country’s largest plant has closed, and at least 3 million barrels a day of processing got taken offline. Traders are rushing to send millions of barrels of diesel across the Atlantic to the U.S., a potential boon for Europe’s downtrodden refining industry.Gasoline Machine“The Gulf Coast is a gasoline machine and sends products across the U.S. as well as international markets,” said Kitt Haines, analyst at consultant Energy Aspects. “For a brief period at least, this could help European refining.”The result is going to mean a mixed picture for U.S. inventories in the coming weeks. While gasoline production has been hit by the spate of refinery outages, there are also far fewer drivers on the roads than normal. Stockpiles of heating fuels like propane and diesel -- for which demand was already soaring before this week’s weather -- are set to fall sharply.All of which leaves Saudi Arabia and its allies in the Organization of Petroleum Exporting Countries keenly watching the forecast for Texas’s weather.April DecisionThe group is yet to decide on its output plans for April, but OPEC’s largest producer surprised oil markets earlier in the year by cutting an extra million barrels a day of supply in February and March. That leaves spare capacity on the sidelines at a time when the market is clamoring for extra barrels.“The market is turning into a wild animal for OPEC+ to control,” said Gary Ross, a veteran oil consultant turned hedge fund manager at Black Gold Investors LLC. “The weather is having an unbelievable impact on global supply and demand.”A thaw is coming, though. On Friday, temperatures in Midland -- the de facto capital of shale production -- will reach 45 Fahrenheit (7 degrees Celsius). That will rise to 56 Fahrenheit on Saturday, allowing crude production to restart. On Monday, Midland hit -2 Fahrenheit, its lowest temperature in more than 30 years.For the time being, the great unknown remains how long output -- and the rest of the region’s oil infrastructure -- will take to recover in full.“Evidence from the last great Permian freeze off is that it can come back very quickly,” said Paul Horsnell, head of commodities research at Standard Chartered Plc. “But refineries are more likely to be prone to prolonged damage.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Apple stock breaks below post-COVID uptrend line after largest shareholders disclose share sales

    Shares of Apple Inc. sank toward a one-month low Wednesday, and broke below two key chart levels in the process, after the technology behemoth's two largest shareholders disclosed that they trimmed their stakes.

  • Lithium producer Albemarle expects recovery in sales as results top estimates

    After the coronavirus dented growth prospects last year, Albemarle and its peers like SQM are now expecting to cash in on surging demand for the battery metal lithium, critical to electric vehicles that have become massively popular amid climate change concerns. Albemarle has earlier said it looks to double production at its lithium facility in Silver Peak, Nevada, part of a plan to boost supply for the burgeoning electric vehicle market, while Chilean miner SQM has said its current plans to boost its production of lithium carbonate and lithium hydroxide by the second half of 2021 remained on track. However, Albemarle warned that it expects pricing to be down slightly, and forecast adjusted profit in the range of $3.25 to $3.65 per share for 2021.

  • Tilray Beats Some Earnings Views, Achieves This Rare Feat Among Marijuana Stocks

    Tilray beat some Q4 expectations, and became the rare weed company to deliver on its profitability goals.

  • Bill Gates Says 'Underestimating' Elon Musk 'Not A Good Idea'

    Microsoft Corporation (NASDAQ: MSFT) co-founder Bill Gates praised Tesla Inc’s (NASDAQ: TSLA) and its CEO Elon Musk's contributions on mitigating climate change in a New York Times Co (NYSE: NYT) podcast this week. What Happened: “Well, it’s important to say that what Elon did with Tesla is one of the greatest contributions to climate change anyone’s ever made,” the billionaire-philanthropist said on NYT opinion writer Kara Swisher’s twice-weekly podcast “Sway.” “Underestimating Elon is not a good idea,” Gates added. Why It Matters: The Microsoft co-founder's comments follow Musk's appearance on Joe Rogan's podcast where he expressed a belief that Gates had a short position on Tesla stock, Electrek reported. “I also heard that at one point he had a large short position. I don’t know if that’s true or not, but it seems weird,” said Musk. “People I know who know the situation pretty well, I asked them 'are you sure?' and they said 'yes, he has a huge short position on Tesla.' That didn’t work out too well.” See also: How To Buy Microsoft Stock Last year, Gates had said that electric trucks would never be a “practical solution” for carrying heavy loads over large distances. Musk was dismissive of Gates’ knowledge of electric vehicles and said “he has no clue.” On an earlier occasion, Musk had expressed displeasure over Gates’ purchase of a Porsche Taycan and described conversations with the former Microsoft executive as “underwhelming.” Price Action: Tesla shares closed nearly 2.4% lower at $796.22 on Tuesday and fell 0.6% in the after-hours session. On the same day, Microsoft shares closed nearly 0.5% lower at $243.70 and declined 0.18% in the after-hours session. Click here to check out Benzinga’s EV Hub for the latest electric vehicles news. Photo Courtesy: UK Department for International Development via Flickr See more from BenzingaClick here for options trades from BenzingaElon Musk's SpaceX Gets 60% Higher Valuation In Latest Funding Round At B: ReportWhy Apple Getting Increasingly Serious About Making Cars? 'Transportation' Dwarfs 'Smartphone' Market, Says Munster© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.