HUMBL (OTCMKTS:HMBL) Enters into Strategic Agreements with Ybyrá Capital S.A. and WSCG, Inc.

On December 2, 2024, HUMBL, Inc. disclosed in an 8-K filing with the Securities and Exchange Commission that the company has engaged in significant transactions. HUMBL finalized a Stock Purchase Agreement with Ybyrá Capital S.A. and Brian Foote, resulting in Ybyrá acquiring 99% of the equity interests of FinCapital Credito Pagamentos e Servicos LTDA from HUMBL. Additionally, Brian Foote sold his Control Shares to Ybyrá, establishing Ybyrá as the controlling stockholder of HUMBL.

FinCapital, now a subsidiary of HUMBL, possesses $20,000,000 in magnesium silicate, an essential raw material in fertilizer production. HUMBL has agreed to issue common shares worth $20,000,000 to Ybyrá for the purchase of the FinCapital equity interest, with part of the payment to be made through the issuance of common shares prior to a recapitalization event.

Moreover, on the same day, HUMBL entered into an Asset Purchase Agreement with WSCG, Inc. and WSCG Humbl SPV, ultimately selling all of its assets to WSCG. As part of the deal, WSCG committed to paying HUMBL $3,025,000 and issuing shares of WSCG Class B Common Stock to HoldCo. The transaction is expected to further solidify HUMBL’s position, with the company intending to retain a portion of the acquired membership units to strengthen exposure to WSCG’s assets and performance.

The descriptions of the Stock Purchase Agreement and the Asset Purchase Agreement provided in the filing emphasize the intricacies and conditions of the agreements. HUMBL will also extend offers to exchange HoldCo Units with its debtholders, aiming to reduce debt and mitigate future dilution risks for common stockholders.

The outlined agreements are pivotal for HUMBL’s strategic growth and positioning within the market. These transactions are set to significantly impact the company’s business dynamics and asset portfolio. For more detailed information, the full filings containing the agreements and related details are available for public review.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read HUMBL’s 8K filing here.

About HUMBL

HUMBL, Inc, a digital commerce company, operates a platform connects consumers, business, and governments in the digital economy in North America. It operates in two segments, Consumer and Commercial. The company offers HUMBL Wallet, that enables users to have full control of their online identity, digital assets, and digital keys; HUMBL Search Engine that allows customers to search for articles, news, images, video, and other, as well as allows consumers to search for verified merchandise and tickets; HUMBL Tickets, which offers secondary tickets to various of live events; HUMBL Authentics, to pair authenticated buyers and sellers in verified and digital commerce; and HUMBL Social, a user-verified social media platforms.