San Diego, California, Dec. 14, 2022 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTCQB: HMBL) announced today that HUMBL and GHS Investments, LLC have entered into an Equity Financing Agreement in which GHS Investments has agreed to purchase up to $20,000,000 of HUMBL common stock. The right to cause GHS Investments to purchase these shares is solely at HUMBL’s election.
Pursuant to the Equity Financing Agreement, GHS Investments agreed to purchase up to $20,000,000 of HUMBL common stock following the receipt of put notices from HUMBL and subject to certain conditions. If HUMBL elects to cause GHS Investments to purchase shares, the shares will be purchased at a 20% discount to the average of the three lowest closing prices of HUMBL’s common stock in the prior 10 trading days. Following an uplist to Nasdaq or an equivalent national exchange, the conversion discount would drop from 20% to 10%. HUMBL will have the right to cause GHS Investments to purchase shares under the agreement following the effectiveness of an S-1 Registration Statement. HUMBL may choose the dollar amount of each put notice delivered to GHS Investments; provided, however, the maximum dollar amount of any put cannot exceed the lesser of 200% of HUMBL’s average daily trading volume in the previous 10 trading days and $500,000. Please see HUMBL’s 8-K filing for more information.
About HUMBL
HUMBL is a Web 3 platform with product lines including HUMBL Pay™, HUMBL Wallet™, HUMBL Search Engine™, HUMBL Tickets™ and HUMBL Marketplace™. The company also has a commercial blockchain services unit called HUMBL Blockchain Services™ (HBS). HUMBL also owns subsidiary companies in digital media, technology, ticketing and merchandise.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control. Except as may be required by law, HUMBL undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.
Contact
HUMBL, Inc.
PR@HUMBL.com
