HUMBL CEO has sold zero shares of the company and has now retired the equivalent of over 770,000,000 of personally held common shares to assist with reduced dilution in the company
San Diego, California, Sept. 21, 2022 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTC Markets: HMBL) announced today that CEO Brian Foote has elected to retire 45,000 additional shares of Series B Preferred Stock that he owns, which is the equivalent of 450,000,000 shares of common stock.
The market value of these shares based on the prior trading day’s closing price is approximately $13,500,000 (USD).
Mr. Foote has previously retired a combined total of approximately 324,917,333 common shares from the float in November 2020, July 2021, and March 2022, also at his own personal cost.
In summary, Mr. Foote has sold zero shares of HUMBL stock and has now retired the equivalent of approximately 774,917,333 common shares.
The purpose of this share retirement is to reduce the overall HUMBL share count and attempt to reduce HUMBL shareholder dilution as the company pursues its fundraising and acquisitions strategies.
“This action will further facilitate our flexibility to perform consumer marketing partnerships, merger and acquisition strategies, as well as the capital formation of the company,” said Brian Foote, CEO of HUMBL.
The share cancellation request was submitted on Wednesday, September 21, 2022 to the company’s transfer agent, Pacific Stock Transfer.
About HUMBL
HUMBL is a Web3 Commerce platform with consumer products and commercial services.
CONTACT:
Press Contact: Cynthia Kaui, PR Strategist of Focuscom Inc. services. Email: cynthia.kaui@focuscominc.com
Forward Looking Statements
This release may contain 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.
