San Diego, CA., March 16, 2021 (GLOBE NEWSWIRE) -- HUMBL, Inc. (“HUMBL”) (OTCMARKETS: TSNPD) and Aurea Group Ventures (“Aurea Group”), a Chilean multi-family office, announced today the signing of a Securities Purchase Agreement (the “Purchase Agreement”) for the purchase by Aurea Group of HUMBL common stock and the country rights to Chile for a purchase price of up to $7,500,000 (USD).
Pursuant to the terms of the Purchase Agreement, Aurea Group, through an affiliate, agreed to purchase 437,500 shares of HUMBL common stock for $1,000,000. The payment for these shares is due on or before March 30, 2021. In addition, Aurea Group also received the right to purchase 1,562,000 additional shares of HUMBL common stock and a 35% equity interest in a Chilean subsidiary HUMBL intends to form to conduct its operations in Chile for $6,500,000. Aurea Group’s purchase right expires on December 31, 2021.
The Agreement provides that if Aurea Group exercises its right to purchase the subsidiary interest, it will receive 35% of the profits from operations of the HUMBL family of products in Chile, including the HUMBL® Mobile Division, HUMBL Hubs™, HUMBL Marketplace™, and HUMBL Financial™. In addition, Aurea Group also received a right of first refusal with respect to regional or country rights sales in Latin America.
HUMBL and Aurea Group are already underway on HUMBL Latin America business development discussions in key verticals such as: banking, merchant and financial services, real estate, hospitality, tourism, sports, festivals, entertainment and ticketing services in the region.
“At Aurea Group Ventures, our mission is to find, invest, import and work together as a partner with disruptive global companies at the forefront of innovation, and HUMBL perfectly represents this vision. We are strongly confident in how this top-tier HUMBL team and technologies will revolutionize multiple industries in Latin America and the world," said Juan Pablo Morales, CEO and Director of Aurea Group.
“We are deeply honored to be represented in Latin America region by such an educated, ethical and visionary set of partners as the team at Aurea Group,” said Brian Foote, CEO of HUMBL. “While HUMBL will not be selling the exclusive HUMBL distribution rights to all 195 global countries, we are keenly aware of the rapid scale we can achieve in certain regions, through distribution partners. Their working history with brands like Booking Holdings, Airbnb and Expedia Group gives us great confidence in the road ahead for HUMBL as we enter the Latin American market in the year ahead.”
The HUMBL and Aurea Group teams will be performing investment meetings in the second quarter of 2021 in the Latin America region to discuss further partnerships and rights sales, pending the continued resolution of COVID-19 travel protocols.
The two parties will be celebrating their partnership with the blockchain tokenization of several collectible physical assets and NFT’s from the region, that will be tokenized using the HUMBL Token Engine™ and secured by HUMBL Origin Assurance™.
About Aurea Group
Aurea Group's main objective is to provide independent and comprehensive advice for the wealth management of families, foundations, family offices and institutional clients, through dedicated, transparent, and confidential work. Aurea Group has a multidisciplinary team of professionals and analysts who provide tailor-made solutions for each of their clients, focusing on the global search for attractive investment alternatives, both in financial products and in real assets. The company also pursues the development of new businesses through its “Ventures” area.
Website: www.en.aureagroup.cl
About HUMBL, Inc.
HUMBL is a new, Web 3 platform being developed to seamlessly connect consumers and merchants in the digital economy, across its HUMBL Mobile, HUMBL Marketplace and HUMBL Financial divisions.
HUMBL Mobile Applications will deliver more seamless global transactions, by integrating multiple currencies, payment methods and financial services into reduced clicks for the customer.
HUMBL Marketplace was developed to connect customers and merchants online in online listings and blockchain tokenization in areas like physical assets, real estate, hospitality, ticketing and NFTs.
HUMBL Financial has developed new software and algorithms for the digital asset trading markets, which are a new global market for blockchain technologies, and will also offer other credit, lending and financial services.
Website: www.HUMBLpay.com
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.
CONTACT:
HUMBL, LLC
investors@HUMBLpay.com
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