Forwardly Arranges for $2 million in Non-Dilutive Debt Financing; Will Commence Exercising HUMBL Warrants
Forwardly, Inc. (OTCMKT: FORW) announced a $2 million debt financing arrangement with CEO George Sharp at 8% APR for 12 months. The funds will be used to purchase 10 million shares of HUMBL, Inc. (OTCMKT: HMBL) through a warrant exercise at $0.20 per share. Forwardly cannot sell these shares until registered with the SEC and aims to avoid selling at depreciated values. This move aligns with Forwardly's strategy as an opportunity investor in the blockchain sector.
- Secured $2 million debt financing from CEO George Sharp.
- Funds used to purchase 10 million shares of HUMBL, potentially enhancing investment portfolio.
- Loan amount could increase financial liabilities with an 8% annual interest rate.
- Inability to sell HUMBL shares until SEC registration may limit liquidity.
Henderson, NV, Nov. 19, 2021 (GLOBE NEWSWIRE) -- Forwardly, Inc. (OTCMKT: FORW), announced today that it has arranged for
Proceeds from the loan will be used to immediately purchase 10 million shares of HUMBL, Inc. (OTCMKT: HMBL) through the partial exercise of a warrant the company holds to purchase up to 125 million warrant shares through December 2023 at $.20 per share. Forwardly will be unable to sell these shares until they are registered with the SEC, and the company has no intention of disposing of any stock at depreciated values.
About HUMBL, Inc.
HUMBL is a consumer blockchain company working to simplify blockchain use cases across verticals like mobile payments, ticketing, NFTs and real estate.
About Forwardly, Inc.
Forwardly is an opportunity investor seeking to partner in fresh ideas. The company is headed by George Sharp, a longtime whistleblower, advocate against microcap fraud, and defender of shareholder rights. In addition to his continued participation in these activities, Mr. Sharp consults to public companies, attorneys and those associated with the financial markets. He is also a former consultant to OTC Markets Group, Inc. Further information about Forwardly, Inc. can be obtained through its website at www.ForwardlyPlaced.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:
Forwardly, Inc.
3535 Executive Terminal Drive
Suite 110
Henderson, NV 89052
702-840-4433
FAQ
What is the amount of debt financing Forwardly secured?
What is the interest rate on the loan Forwardly obtained?
How will Forwardly use the financing from the CEO?
When can Forwardly sell the HUMBL shares they purchase?
What is the exercise price for the shares Forwardly plans to purchase?
