HUMBL, Inc. announced that it has acquired the mobile identification, verifiable credentials and blockchain tokenization platform of BizSecure, as well as its employee and consulting resources.
With this extensive acquisition, HUMBL will form a new commercial division called HUMBL Blockchain Services™, which will introduce and deliver blockchain corporate and governmental solutions.
“It is unquestionable that corporations and governments around the world are entering a blockchain decade ranging from mobile identification to decentralized tokenization inside mobile wallets,” said Alfonso Arana Jr., CEO of BizSecure. “We are excited to join the HUMBL team to help build and navigate our clients’ future.”
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As a result of the acquisition, HUMBL Blockchain Services will assume an existing United States Air Force contract to perform mobile identification and flight card testing on blockchain, which naturally enables the pursuit of additional corporate and government contracts.
“The BizSecure team runs on hard work, regulatory compliance and blockchain technology innovation; exactly what we wanted for the HUMBL Blockchain Services division,” said Brian Foote.
The acquisition has been consummated as an asset purchase, with BizSecure partners receiving 13,200,000 shares of common stock and 26,800,000 restricted stock units that vest over a two year period at an estimated value of $6,800,000 US dollars based on the market closing price on February 11, 2022.
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To ensure no dilution is incurred by HUMBL shareholders as part of the acquisition, HUMBL CEO Brian Foote will personally cancel a concomitant amount of his own Series B Preferred shares to offset the 40,000,000 shares issued in payment for the assets of BizSecure.
With this acquisition, HUMBL has entered into employment and consulting agreements with the following team members to lead the HUMBL Blockchain Services division, effective immediately.
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