OTC Stock News

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$HMBL Pursuant to the Convertible Promissory Note issued to Pacific Lion by HUMBL, Pacific Lion has the right to fund up to $800,000. The note bears interest at 6% and is due on May 10, 2024. Following an uplisting to a senior stock exchange, the note will automatically convert at 80% of the uplisting offering price. In addition to the note, the Company also issued a Warrant to Purchase Shares of Common Stock to Pacific Lion. The warrant is exercisable for 500,000 shares for a period of five years at $0.10 per share. In the event that an uplisting to a senior stock exchange does not occur within nine months of the issuance date, the warrant will automatically be canceled. The note is designed to provide a mechanism for Pacific Lion to make regular fundings to cover HUMBL’s working capital needs during the pendency of the registration statement. Pacific Lion funded the first tranche of $100,000 upon the issuance of the note.

https://www.marketwatch.com/press-release/humbl-receives-funding-commitment-of-up-to-21-million-as-an-initial-step-in-a-comprehensive-plan-to-recapitalize-the-company-and-pursue-uplisting-to-a-major-exchange-2023-05-15?mod=mw_quote_news_seemore