Earlier this week, Tesoro Enterprises, Inc. (OTCMKT: TSNP) already announced to its shareholders and investors that HUMBL would hold an investor call on Wednesday, December 9, 2020. The main reason for the call was to get to know HUMBL President and CEO, Brian Foote. Subsequently, the technologies, business model and roadmap of HUMBL for 2021 were discussed. The company is internationally known for providing high quality, low cost digital payments and financial services.
What we know now is that the merger between HUMBL and Tesoro Enterprises has been completed, with the latter becoming a registered Delaware company. The Delaware Secretary of State can soon expect additional changes from Tesoro to rebrand the name into HUMBL, Inc. In addition, the corporate actions are being prepared for filing with the Financial Industry Regulatory Authority to rename the public entity HUMBL, Inc. where the ticker symbol will change to $HMBL.
What became clear during the investor call is that the company is immediately launching its new landing page, www.HUMBLpay.com. The brand video posted on this page has been received with great enthusiasm by many professionals, investors and shareholders.
Thanks to the merger, the agreements of November 23, 2020 have been completed. The main reason is to raise more funding through the cash sale of warrants. As a result, HUMBL will have access to a maximum of $50 million in equity, as the warrants will be exercised.* This capital will largely be spent on the international marketing of the HUMBL brand, its HUMBL® mobile application and HUMBL Hubs® trading software. Finally, distribution and worldwide partnerships will also receive the necessary attention to put the company strategically better on the map.
Expansion at its finest
What’s important to note is that HUMBL recently announced its expansion into Latin America and Asia. A joint venture with Bexs Bank in Brazil processes $7.6 billion a year due to international transactions. The partnership will leverage the full technology stack of HUMBL products, enabling more efficient payment and financial service gateways between the United States and Latin America.
Tesoro recently expanded via the continent of Asia thanks to the in Singapore-based Cyberbeat – a leading digital payments and financial technologies company – by completing a strategic move by investing into HUMBL, LLC. In return, Cyberbeat will acquire the non-exclusive rights to sell, distribute and deploy HUMBL and HUMBL Hubs® technologies into key verticals in the Asia Pacific.
*Shares acquired through the exercise of the warrants will not be salable on the retail market for a period of one year from the purchase date of the warrants.
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