Hapbee Signs MOU With LocoMobi World For Development Of Driver Safety Application

For Immediate Release

VANCOUVER, BC, Feb. 21, 2023 /CNW/ – Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) (“Hapbee” or the “Company”) is pleased to announce it has signed a non-binding Memorandum of Understanding (the “MOU”) with LocoMobi World Inc. – a Smart City technology company specializing in innovative parking, tolling and mobility solutions for the future.

 The MOU is the first step in jointly developing an innovative driver safety and performance application (the “Application”). As stipulated in the MOU, part of Hapbee’s contribution to developing the Application is enabling drivers to utilize the Company’s bio-streams, such as Focus, Alert, and Boost, to enhance awareness and safety without having to ingest stimulants.

The Company believes some of its performance-related Signals have safety benefits for drivers. For example, one feature contemplated for development in the MOU is driver-selected or automated Hapbee Signal delivery via in-vehicle seats. Conceptually, the automatic Signal delivery would be triggered by biometric data collected from sensors in the steering wheel or driving patterns recognized by vehicle sensor data. If the Application is successfully developed, Hapbee and LocoMobi World aim to provide the automotive industry with a safe and innovative platform that helps drivers maintain focus to make our roads and highways safer.

According to the U.S. Department of Transportation National Highway Traffic Safety Administration1, “Eight percent of fatal crashes, 14 percent of injury crashes, and 13 percent of all police-reported motor vehicle traffic crashes in 2020 were reported as distraction-affected crashes.”

“This next-generation driver safety solution offers broad impact in both consumer and industrial applications,” said Grant Furlane, CEO of LocoMobi World. “A chemical and stimulant-free solution built directly into the vehicle that delivers increased focus and alertness during long drives has obvious benefits to long-distance trucking, competitive racing and even early morning commutes.”

The Application is intended to be part of LocoMobi World’s AI-based mobility portal, which embeds directly into vehicles. Named one of the Top 30 Fastest Growing Tech Companies in 2021 by the Silicon Review, LocoMobi World enhances e-commerce by transforming a vehicle into a mobile wallet.

“Collaborating with LocoMobi World provides a fantastic opportunity to explore a new potential application for Hapbee’s technology that targets the global challenge of improving driver safety,” added Yona Shtern, CEO of Hapbee. “Building Hapbee’s technology directly into vehicles and integrating with driver biometrics and vehicle data is an exciting prospect for our technology. It could represent a compelling long-term growth vector for Hapbee.”

About The MOU

The MOU establishes the basic terms for the joint development, licensing and distribution of software between Hapbee and LocoMobi World. The two technology companies expect to negotiate specific terms relating to, but not limited to, licensing agreements, intellectual property ownership, statements of work, and development cost sharing.

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 Wellness Routines utilizes patented ultra-low radio frequency energy (ulRFE®), designed to help optimize users’ sleep, productivity and focus, 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

About Locomobi World Inc:

Locomobi is a technology company that specializes in providing innovative solutions for the transportation industry. Their main focus is on developing software and hardware solutions that help fleet operators and vehicle owners manage their assets more effectively. Locomobi's products include parking management systems, license plate recognition technology, and mobile payment solutions. With their cutting-edge technology, Locomobi aims to revolutionize the way people move around cities and make transportation more efficient and convenient for everyone.