HUMBL Completes Stock Purchase Agreement with Ybyra Capital and Sale of its Assets for $20,000,000 to WSCG, Inc.

Rhea-AI Summary

HUMBL Inc. (OTC: HMBL) has announced a two-step transaction involving a stock purchase agreement with Ybyra Capital S.A. and asset sale to WSCG, Inc. HUMBL purchased Ybyra's subsidiary FinCapital, which includes $20,000,000 in physical assets. Ybyra's Chairman Thiago Moura will become HUMBL's new CEO. Additionally, HUMBL sold its brand and technology assets to WSCG for $20,000,000 in stock and cash. WSCG will focus on real estate and blockchain tokenization using HUMBL's technology. HUMBL shareholders will maintain investment exposure through equity stake in WSCG.

Positive

• Acquisition of FinCapital brings $20,000,000 in physical assets to HUMBL's balance sheet
• Sale of HUMBL technology assets for $20,000,000 to WSCG
• Ybyra Capital brings over $1 billion in assets under management expertise
• Shareholders maintain investment exposure through equity stake in WSCG

Negative

• Complete restructuring indicates previous business model wasn't successful
• Sale of core technology assets suggests departure from original business strategy
• Uncertainty during leadership transition and business model change

San Diego, CA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTC: HMBL) is pleased to announce a two-step transaction that includes HUMBL, Inc. and two other partners to be filed as a Form 14C step-transaction.

The first phase of the step-transaction involves a stock purchase agreement between HUMBL and Ybyra Capital S.A. (B3: YBRA4). Ybyra is an established public company in Brazil known for its expertise in real estate, hospitality, port operations, mining, and commodity sectors, with over $1 billion in assets under management.

HUMBL, Inc. has purchased a subsidiary of Ybyra: FinCapital. Ybyra has already contributed $20,000,000 in physical assets to the balance sheet of FinCapital, which will appear on the consolidated financials of HUMBL, Inc. as a result of this transaction. In keeping with this strategy, Ybyra intends to move additional assets onto the HUMBL, Inc. (FinCapital) balance sheet and begin operating the public company immediately.

The focus of FinCapital will be on improved balance sheet fundamentals, revenue and profitability metrics, and establishing improved liquidity pathways between the U.S. and Latin America. Thiago Moura, Chairman and CEO of Ybyra, will assume the role of Chairman and CEO of the HUMBL, Inc. public company. Brian Foote will remain on the Board of Directors to ensure transition continuity and provide U.S. introductions to key service providers and business partners.

In the second phase of the transaction, HUMBL, Inc. successfully completed the sale of the HUMBL brand and related technology assets for $20,000,000 in stock and cash to WSCG, Inc., a private real estate and blockchain firm based in Salt Lake City, Utah.

WSCG, Inc. is guided by a team of experienced real estate professionals with over $1.5 billion in real estate development and management expertise in the Mountain West region.

WSCG will focus on the convergence of real estate and blockchain tokenization by integrating HUMBL’s intellectual property and technology assets. This includes a core focus on the HUMBL Wallet, HUMBL.com blockchain tokenization and the BLOCK ETXs by HUMBL Financial.

WSCG has already secured several real estate commitments for blockchain tokenization in the Mountain West, with plans to do so through the HUMBL Wallet and the HUMBL.com platform.

HUMBL’s public shareholders will maintain ongoing investment exposure to the HUMBL assets through HUMBL Inc.’s equity stake in the WSCG private company.
“This transaction ensures the survival of HUMBL’s intellectual property and core technologies, along with ongoing investment exposure for HUMBL Inc.’s shareholders via its equity stake in the private company WSCG, Inc.,” said Brian Foote, outgoing CEO of HUMBL. “At the same time, the transaction delivers a strong Latin American asset holder into the public company. We believe that this transaction will deliver value to HUMBL shareholders on both sides of the public and private company ledger.”

"Ybyra has significant assets, resources and access in Brazil and Latin America, which we can capitalize on faster by building stronger liquidity and access to the North American capital markets,” said Thiago Moura, CEO and Chairman of Ybyra and the incoming CEO and Chairman of HUMBL, Inc. “We believe our strong focus on placing real assets onto the balance sheet, along with revenue and profitability metrics, will deliver value to HUMBL’s powerful shareholder base and move us on to the next steps of uplisting or M+A onto a major national exchange.”

Ybyra will also serve as a significant technology client of WSCG, Inc., utilizing the HUMBL Wallet, HUMBL.com blockchain tokenization, and the BLOCK ETXs by HUMBL Financial, for the blockchain tokenization of real estate and other physical assets in their portfolio.

For more information regarding the specifics of each transaction, please see HUMBL’s Form 8-K filed with the SEC.

About HUMBL

HUMBL is a Web 3 technology platform, developed for the digital blockchain economy. The company offers core product lines such as the HUMBL Wallet and HUMBL.com, as well as white-label commercial services in areas such as government wallets, ticketing and more. To learn more, visit: www.HUMBL.com

About Ybyra

Ybyrá Capital S.A. (YBRA4) is a Brazilian publicly traded investment holding company with more than 26 years of experience and over $1 billion dollars in assets under management. The company operates in the following sectors: commodities trading, energy, agricultural market, mining, offshore logistics, port terminal, real estate, financial industry and RD&I. To learn more, visit: Ybyra LP - Investor Relations

About WSCG, Inc.

WSCG, Inc. is a hybrid real estate and blockchain technology company in Salt Lake City, Utah, with expertise in real estate development, management, and blockchain tokenization.

Investor Relations

Investor Relations
Carolina Pestana Coelho
Ri@ybyracapital.com.br
+55 (21) 2430-5971

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein are forward-looking statements. These forward-looking statements are identified by the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict," "potential," "continue," "may," "will," "could," and similar expressions. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed in such statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the ability to achieve anticipated benefits of the patent, as well as competition, and general market conditions. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

FAQ

What is the value of HUMBL's asset sale to WSCG, Inc.?

HUMBL sold its brand and technology assets to WSCG, Inc. for $20,000,000 in stock and cash.

Who is the new CEO of HUMBL (HMBL) after the transaction?

Thiago Moura, Chairman and CEO of Ybyra Capital, will assume the role of Chairman and CEO of HUMBL Inc.

What assets did HUMBL (HMBL) acquire from Ybyra Capital?

HUMBL acquired FinCapital, a subsidiary of Ybyra Capital, which includes $20,000,000 in physical assets on its balance sheet.

What will WSCG do with HUMBL's technology assets?

WSCG will focus on real estate and blockchain tokenization using HUMBL's technology, including the HUMBL Wallet, HUMBL.com blockchain tokenization, and BLOCK ETXs.