- HUMBL ( OTCQB:HMBL ) has acquired Agora Digital Holdings, Inc. ( DEFYU ), a blockchain technology company focused on Bitcoin mining.
- Agora Digital is a majority owned subsidiary of Ecoark Holdings ( ZEST ).
- The primary closing condition is that Ecoark and its executive team are required to source a minimum of $10M in capital for HUMBL prior to the transfer of ownership of Agora Digital to HUMBL.
- The owners of Agora Digital would receive $60M in a new class of preferred stock in consideration for selling their interests in Agora Digital.
- Upon completion of the transaction, Brad Hoagland will be appointed as CEO and Brian Foote will move to an Executive Chairman role.
- “We believe that decentralized blockchain technologies will be a significant driver of financial market innovation over the next decade,” said Brad Hoagland, CFA, CEO of Agora and Board Member of HUMBL. “HUMBL’s Web3 consumer and enterprise product stacks are the perfect complement to Agora’s power infrastructure and digital asset mining capabilities. I am looking forward to taking a key role in the new combined company in order to position HUMBL for long-term success across a full stack of blockchain products and services in the public markets.”
For further details see:
HUMBL to acquire Agora Digital Holdings in all stock transaction