San Diego, CA, April 10, 2025 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTC: HMBL), a U.S.-based holding company with a focus on technology, today announced the mutual unwinding of its previously announced $2 million Share Exchange Agreement and Master Distribution Agreement with NUBURU, Inc., effective immediately.
The decision was driven by HUMBL, Inc.'s strategic focus on enhancing shareholder value and limiting further dilution in non-core segments of its business. The company is now fully directing its efforts toward expanding its newly announced joint venture with MultiCortex, LLC, a U.S. and Brazilian-based artificial intelligence company focused on high-performance computing and advanced inference systems.
"We appreciated the early opportunities presented through the NUBURU initiative, but ultimately, our strategic roadmap is best served by focusing on long-term, high-value ventures like our joint venture with MultiCortex AI," said Thiago Moura, CEO of HUMBL. "The MultiCortex AI joint venture has the potential to position HUMBL, Inc. at the intersection of AI growth between the U.S. and Latin America."
The MultiCortex AI collaboration marks the latest addition to HUMBL, Inc.'s portfolio, aimed at creating more connected technology sales and development between the U.S. and Latin America.
About HUMBL, Inc.
HUMBL, Inc. is shifting toward a strategic holding company model under the leadership of CEO Thiago Moura, Principal of Ybyra Capital - a Brazilian holding company with diversified investments, such as commodities and mining.
The company's unique structure enables it to create two-way distribution pipelines throughout the United States and Latin America, leveraging Ybyra Capital's established regional presence to offer strategic partners immediate access to high-growth markets.
The company most recently announced a joint venture with a U.S. and Brazilian-based Artificial Intelligence (AI) company. MULTICORTEX | HPC FOR AI
HUMBL, Inc. (OTC: HMBL)
Investor Relations: IR@humbl.com
Media Contact: Media@humbl.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included herein are forward-looking statements. These forward-looking statements are identified by the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict," "potential," "continue," "may," "will," "could," and similar expressions. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed in such statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the ability to achieve the anticipated benefits of the joint venture, competitive conditions, and general market dynamics. HUMBL, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
