HUMBL, Inc. Announces Aurea Group Ventures Investment and Partnership for Exclusive Chile Country Rights

San Diego, CA., March 16, 2021 (GLOBE NEWSWIRE) -- HUMBL, Inc. (“HUMBL”) (OTCMARKETS: TSNPD) and Aurea Group Ventures (“Aurea Group”), a Chilean multi-family office, announced today the signing of a Securities Purchase Agreement (the “Purchase Agreement”) for the purchase by Aurea Group of HUMBL common stock and the country rights to Chile for a purchase price of up to $7,500,000 (USD).

Pursuant to the terms of the Purchase Agreement, Aurea Group, through an affiliate, agreed to purchase 437,500 shares of HUMBL common stock for $1,000,000. The payment for these shares is due on or before March 30, 2021. In addition, Aurea Group also received the right to purchase 1,562,000 additional shares of HUMBL common stock and a 35% equity interest in a Chilean subsidiary HUMBL intends to form to conduct its operations in Chile for $6,500,000. Aurea Group’s purchase right expires on December 31, 2021.

The Agreement provides that if Aurea Group exercises its right to purchase the subsidiary interest, it will receive 35% of the profits from operations of the HUMBL family of products in Chile, including the HUMBL Mobile Division, HUMBL Hubs, HUMBL Marketplace, and HUMBL Financial. In addition, Aurea Group also received a right of first refusal with respect to regional or country rights sales in Latin America.

HUMBL and Aurea Group are already underway on HUMBL Latin America business development discussions in key verticals such as: banking, merchant and financial services, real estate, hospitality, tourism, sports, festivals, entertainment and ticketing services in the region.

“At Aurea Group Ventures, our mission is to find, invest, import and work together as a partner with disruptive global companies at the forefront of innovation, and HUMBL perfectly represents this vision. We are strongly confident in how this top-tier HUMBL team and technologies will revolutionize multiple industries in Latin America and the world," said Juan Pablo Morales, CEO and Director of Aurea Group.

“We are deeply honored to be represented in Latin America region by such an educated, ethical and visionary set of partners as the team at Aurea Group,” said Brian Foote, CEO of HUMBL. “While HUMBL will not be selling the exclusive HUMBL distribution rights to all 195 global countries, we are keenly aware of the rapid scale we can achieve in certain regions, through distribution partners. Their working history with brands like Booking Holdings, Airbnb and Expedia Group gives us great confidence in the road ahead for HUMBL as we enter the Latin American market in the year ahead.”