HUMBL, Inc. Announces Expansion of Strategic Financing Relationship with Pacific Lion
HUMBL announces strategic expansion with Pacific Lion, increasing funding commitment to up to $2,000,000. Pacific Lion warrant terminates if HUMBL fails to uplist to major exchange within 18 months. Pacific Lion provides support in SEC counsel and NYSE referrals. HUMBL CEO expresses appreciation for the partnership.
08/31/2023 - 09:30 AM
San Diego, CA, Aug. 31, 2023 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTC: HMBL) (“HUMBL” or the “Company”) is pleased to announce a strategic expansion in its relationship with strategic funding partner Pacific Lion, showcasing the latter’s commitment to HUMBL's continued growth.
To fortify HUMBL's financial position and ensure ample working capital going into its planned Reg A offering, Pacific Lion has increased its funding commitment amount to HUMBL. By amending the existing note with the Company, Pacific Lion has increased its potential funding amount to HUMBL from $800,000 t o up to $2,000,000.
Moreover, demonstrating strong confidence in the Company’s prospects, the Pacific Lion warrant terminates within an 18-month period if HUMBL is not able to successfully uplist to a major exchange during that time period. This condition to the effectiveness of the warrant reflects Pacific Lion's confidence in HUMBL's efforts towards listing on a major exchange in the future.
Furthering their integral partnership, Pacific Lion has played a pivotal role in supporting HUMBL's endeavors. They have strategically referred the Company to supplemental SEC counsel, aiding the Reg A process, as well as senior executives at the NYSE, along with other service providers.
Jacob Fernane, Managing Partner of Pacific Lion, issued the following statement: "We are privileged to serve as HUMBL's key financial collaborator during this pivotal moment in the Company's strategic evolution. Our capital allocation is strategically designed to fortify HUMBL's working capital needs and roadmap towards meeting the stringent listing requirements mandated by senior exchanges. HUMBL's strong executive leadership aligns well with our commitment to company vision, operational efficiency, cost reductions, and the goal of uplisting. We stand resolute in supporting the Company's capital requirements through this essential period."
Brian Foote, CEO of HUMBL, commented: "Pacific Lion has been an important financing partner to HUMBL. They have also provided business planning and strategic networks that fit with our key focus initiatives at the company. We’re deeply appreciative of the relationship.”
About HUMBL
HUMBL is a technology platform with product lines including the HUMBL Wallet™ , HUMBL Search Engine™ , HUMBL Social™ , HUMBL Tickets™ , HUMBL Marketplace™ and HUMBL Authentics™ . For more information, please visit: HUMBL.com .
HUMBL has performed digital integrations with athletes and teams from the NCAA, MLB, UFC, WNFC, NASCAR Xfinity, World Surfing, World Rugby and more.
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.
Company Information
HUMBL, Inc.PR@HUMBL.com HUMBL.com
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