Henderson, NV, Nov. 19, 2021 (GLOBE NEWSWIRE) -- Forwardly, Inc. (OTCMKT: FORW), announced today that it has arranged for $2 million in debt financing from its CEO, George Sharp. Under the terms of the 12 month loan, Mr. Sharp shall be entitled to an interest rate of 8% APR. The loan is not subject to conversion into Forwardly stock.
Proceeds from the loan will be used to immediately purchase 10 million shares of HUMBL, Inc. (OTCMKT: HMBL) through the partial exercise of a warrant the company holds to purchase up to 125 million warrant shares through December 2023 at $.20 per share. Forwardly will be unable to sell these shares until they are registered with the SEC, and the company has no intention of disposing of any stock at depreciated values.
About HUMBL, Inc.
HUMBL is a consumer blockchain company working to simplify blockchain use cases across verticals like mobile payments, ticketing, NFTs and real estate.
About Forwardly, Inc.
Forwardly is an opportunity investor seeking to partner in fresh ideas. The company is headed by George Sharp, a longtime whistleblower, advocate against microcap fraud, and defender of shareholder rights. In addition to his continued participation in these activities, Mr. Sharp consults to public companies, attorneys and those associated with the financial markets. He is also a former consultant to OTC Markets Group, Inc. Further information about Forwardly, Inc. can be obtained through its website at www.ForwardlyPlaced.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
3535 Executive Terminal Drive
Henderson, NV 89052