HUMBL Announces Completion of Monster LA Acquisition

Rhea-AI Summary

HUMBL (OTC Markets: HMBL) announced the completion of its acquisition of Monster Creative, a premier Hollywood production studio, for a total of $8 million. This consisted of $7.5 million in convertible debt and $500,000 in non-convertible debt. Notable founders Doug Brandt and Kevin Childress will maintain independent operations while collaborating with HUMBL on digital media, NFTs, and ticketing experiences. The acquisition aims to strengthen HUMBL's presence in the entertainment sector, leveraging Monster Creative's extensive industry expertise.

Positive

• Acquisition of Monster Creative enhances HUMBL's capabilities in digital media and NFTs.
• Access to the expertise of award-winning founders Doug Brandt and Kevin Childress.
• Expected collaboration will create unique multimedia experiences for clients in various sectors.

Negative

• The acquisition involves significant debt, which could impact HUMBL's financial stability.

San Diego, California, July 06, 2021 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTC Markets: HMBL) today announced that it has completed its acquisition of Monster Creative, LLC, a leading Hollywood production studio.

The purchase price for the acquisition was paid with $7.5M in convertible debt and $500,000 in non-convertible debt, for a total of $8M USD. The conversion price for the convertible debt is $1.20 per share.

Founded by award-winning industry veterans Doug Brandt and Kevin Childress, Monster Creative is a leading creative advertising agency in the entertainment space.

Monster Creative will continue independent operations of its Hollywood studios while collaborating with HUMBL in creating digital media, multimedia NFTs and ticketing experiences for clients in sports, music, entertainment, fashion, gaming, and photography.

“We are honored to work with such highly regarded Hollywood veterans, to create world class, immersive multimedia NFTs and ticketing experiences for clients and fans in the digital realm,” said Brian Foote, CEO of HUMBL.

Throughout their careers Brandt and Childress have created marketing campaigns for many notable films such as Transformers, Spider-Man, Terminator, War for the Planet of the Apes, 6 Underground, Star Trek and more: including series campaigns for streaming providers such as Amazon and Netflix on shows such as Jack Ryan and Narcos.

About MONSTER LA

Founded by award-winning industry veterans Doug Brandt and Kevin Childress, Monster Creative is a creative advertising agency with a focus on entertainment. They have created campaigns for top-grossing Hollywood movies, as well as those for streaming platforms.

Company Website: https://www.monster.la/

About HUMBL

HUMBL was created to help simplify and package new technologies like blockchain, for global consumers in digital payments, ticketing and NFTs.

CONTACT:

PR@HUMBLPay.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.

FAQ

What is the acquisition price of Monster Creative by HUMBL?

HUMBL acquired Monster Creative for a total of $8 million, consisting of $7.5 million in convertible debt and $500,000 in non-convertible debt.

Who are the founders of Monster Creative?

Monster Creative was founded by award-winning industry veterans Doug Brandt and Kevin Childress.

What will Monster Creative focus on after its acquisition by HUMBL?

Monster Creative will continue independent operations while collaborating with HUMBL to create digital media, multimedia NFTs, and ticketing experiences.

How does the acquisition affect HUMBL's business strategy?

The acquisition aims to enhance HUMBL's presence in the entertainment industry by leveraging Monster Creative's expertise in creating engaging multimedia experiences.

What is the significance of the convertible debt in HUMBL's acquisition of Monster Creative?

The convertible debt of $7.5 million has a conversion price of $1.20 per share, which can impact HUMBL's share structure and investor sentiment.