HUMBL Acquires BM Authentics

Rhea-AI Summary

HUMBL announced the acquisition of BM Authentics, a provider of sports merchandise, to enhance its product offerings. The deal involved 90 million shares of HUMBL stock and $110,000 in cash. This strategic move aims to integrate verified sports memorabilia into the HUMBL platform, utilizing blockchain for authentication and tracking. Brian Meltzer from BM Authentics joins HUMBL as Vice President, Sales and Revenue, emphasizing the importance of combating fraud in the collectibles market. The acquisition aligns with HUMBL's goal to drive product sales and revenues through innovative technology.

Positive

• Acquisition of BM Authentics enhances HUMBL's product offerings in sports merchandise.
• Integration of authenticated merchandise on the HUMBL platform using blockchain technology.
• Appointment of Brian Meltzer aims to leverage expertise in sports collectibles.

Negative

• Transaction involves a significant issuance of 90 million shares, potentially impacting shareholder value.

San Diego, CA, Nov. 03, 2022 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTC Markets: HMBL) announced today the acquisition of BM Authentics, a trusted provider of sports merchandise and memorabilia headquartered in Chicago, Illinois.

BM Authentics works with clients such as professional athletes, brands, representation and marketing agencies, to provide sports merchandise ranging from autographed jerseys, bats, balls, helmets, photos and more.

“As we focus on driving product sales and revenues through the HUMBL platform, the acquisition of a trusted merchandise provider was an important part of HUMBL’s strategic vision,” said Brian Foote, CEO of HUMBL. 

“We look forward to pairing physical merchandise, alongside HUMBL technologies such as the HUMBL wallet, search engine, tickets and NFTs, to deliver an integrated digital experience for customers,” said Brian Meltzer, Founder of BM Authentics, who joins HUMBL as Vice President, Sales and Revenue.

BM Authentics merchandise will be made available on the HUMBL platform and will be verified, registered and cataloged on blockchain. This will include Certificates of Authenticity, along with cataloging on the BLOCKS Registry^™, a decentralized global database that can be used for the lifetime tracking of collectible merchandise.

The HUMBL Wallet will hold and validate the Certificates of Authenticity, thus providing an additional layer of security with consumer and brand protection over the life of the physical asset or digital collectibles.

“Fraud, forgery and chain-of-custody are major issues on Web 2 marketplaces in our industry,” said Brian Meltzer. “Having been in sports merchandise and collectibles for over 16 years, I’m excited to revolutionize the industry with the Web 3 team here at HUMBL.”

The purchase price for the transaction was 90,000,000 shares of HUMBL common stock and $110,000 in cash. Brian Foote recently retired 450,000,000 common shares on September 21, 2022 to ensure such a transaction would result in no additional dilution to shareholders.

About HUMBL 

HUMBL is a Web 3 platform that integrates the HUMBL Wallet^™, HUMBL Search Engine, HUMBL Tickets^™, HUMBL NFT Gallery^™ and HUMBL Marketplace^™ into digital experiences for customers.

About BM Authentics

Founded in 2005 by Brian Meltzer, BM Authentics specializes in merchandise such as autographs, jerseys, bats, balls, helmets, gloves 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.
Contact 

PR@Humbl.com

FAQ

What is the significance of HUMBL's acquisition of BM Authentics?

The acquisition enhances HUMBL's offerings in sports merchandise and integrates blockchain technology for authenticity.

How many shares of HUMBL stock were involved in the acquisition of BM Authentics?

The acquisition involved 90 million shares of HUMBL common stock.

Who will join HUMBL as part of the acquisition of BM Authentics?

Brian Meltzer, the founder of BM Authentics, will join HUMBL as Vice President, Sales and Revenue.

What technologies will be used to verify merchandise on the HUMBL platform?

Blockchain technology will be used to verify and catalog sports memorabilia, providing Certificates of Authenticity.

When was the announcement made regarding HUMBL's acquisition of BM Authentics?

The acquisition was announced on November 3, 2022.