HUMBL believes that the Termination Agreement is a superior option to the Joint Venture Agreement because it still provides HUMBL the ability to purchase a controlling interest in Multicortex, but with the added flexibility of full control of any proceeds from a Regulation A+ offering and more time to evaluate Multicortex’s business prospects. The HUMBL common shares issued to the founders of Multicortex will also be cancelled as part of the Termination Agreement. In addition, the parties agreed in the Termination Agreement that HUMBL would continue to provide introductions and sales support for Multicortex and to work together in good faith to negotiate appropriate sales commissions.
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