HUMBL Announces $ 50 Million Equity Financing Agreement and Bridge Note

HUMBL, Inc.

Equity financing agreement

Equity financing agreement

San Diego, Calif., April 14, 2021 (GLOBE NEWSWIRE) – HUMBL, Inc. (OTC Markets: HMBL) today announced the closing of a $ 3,000,000 bridging note from Brighton Capital Partners, LLC (Brighton Capital). In addition, HUMBL® and Brighton Capital signed an equity financing agreement in which Brighton Capital agreed to purchase up to $ 50,000,000 of HUMBL common stock. The right to cause Brighton Capital to purchase such shares is solely at the option of HUMBL.

Pursuant to the equity financing agreement, Brighton Capital has agreed to purchase up to $ 50,000,000 of common shares of HUMBL. If HUMBL chooses to have Brighton Capital buy shares, the shares will be purchased at a 20% discount. HUMBL will have the right to cause Brighton Capital to purchase shares under the Agreement after the entry into force of an S-1 registration statement.

In exchange for $ 3,000,000 in cash, HUMBL issued Brighton Capital a convertible promissory note for $ 3,300,000. The note bears interest at a rate of 10% per annum and is convertible at the option of Brighton Capital at a fixed price of $ 3.15 per share.

The note also contains a right of redemption, where from the effective date of an S-1 registration statement and the 12th anniversary of the note Brighton Capital may require HUMBL to redeem all or part of the note.

HUMBL may pay for these redemptions in cash or in shares at its discretion. If HUMBL chooses to pay in shares, that payment will be made at 80% of the market price of the share. The note will serve as a bridge loan for the $ 50,000,000 equity financing agreement.

About HUMBL

HUMBL is a new Web 3 platform that seamlessly connects creators, consumers and merchants in the digital economy. HUMBL has three main business divisions: HUMBL Mobile, HUMBL Marketplace, and HUMBL Financial, which work together to pack new technologies like blockchain for global consumers.

CONTACT:

HUMBL, Inc.
[email protected]

Safe Harbor Disclaimer

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You may identify such statements by using the words “may”, “will”, “should”, “plans”, “expects,” “anticipates”, “continues”, “estimates”, “plans”, “intends” and similar expressions. Forward-looking statements involve risks and uncertainties which could cause results to differ materially from those projected or These risks and uncertainties include, but are not limited to, the Company’s ability to successfully execute its expanded business strategy, including entering into definitive agreements with suppliers, business partners and customers; general economic and business conditions , effects of geopolitical turmoil and continuing regional conflicts, competition, changes in technology and marketing methods, delays in completion ent of various engineering and manufacturing programs, changes in customer order patterns, changes in product line, continued success of technical advancements and provision of technological innovations, component shortages, production delays due performance quality issues with subcontracted components, regulatory requirements and the ability to meet them, rules and changes from government agencies and various other factors beyond the control of the Company.

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Carol M. Barragan

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