Technology platform HUMBL has announced an expansion to its partnership with strategic funding partner, Pacific Lion.
HUMBL offers product lines including HUMBL Wallet, HUMBL Search Engine, HUMBL Social, HUMBL Tickets, HUMBL Marketplace and HUMBL Authentics.
By amending the existing note with the company, Pacific Lion has increased its potential funding amount to HMBL from $800,000 (£630,000/€736,000) to up to $2,000,000.
The Pacific Lion warrant will terminate within an 18-month period if HUMBL is not able to successfully uplist to a major exchange during this time frame.
HUMBL has performed digital integrations with athletes and teams from the National Collegiate Athletics Association (NCAA) in the US, Major League Baseball (MLB), United Fighting Championship (UFC), Women’s National Football Conference (WNFC), NASCAR Xfinity, World Surfing, World Rugby and more.
“We are privileged to serve as HUMBL’s key financial collaborator during this pivotal moment in the Company’s strategic evolution,” said Jacob Fernane, managing partner of Pacific Lion. “Our capital allocation is strategically designed to fortify HUMBL’s working capital needs and roadmap towards meeting the stringent listing requirements mandated by senior exchanges.
“HUMBL’s strong executive leadership aligns well with our commitment to company vision, operational efficiency, cost reductions, and the goal of uplisting. We stand resolute in supporting the Company’s capital requirements through this essential period.”
Brian Foote, chief executive of HUMBL, added: “Pacific Lion has been an important financing partner to HUMBL. They have also provided business planning and strategic networks that fit with our key focus initiatives at the company. We’re deeply appreciative of the relationship.”
HUMBL first entered into an Equity Financing Agreement with Pacific Lion earlier this year.