HUMBL Announces Completion of Monster LA Acquisition
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.
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About HUMBL
HUMBL was created to help simplify and package new technologies like blockchain, for global consumers in digital payments, ticketing and NFTs.
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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.
