HUMBL terminates agreement to acquire Agora Digital Holdings

09/17 03:28

According to Globenewswire, Web3 commerce platform HUMBL has announced it has terminated the Securities Exchange Agreement previously announced on August 11, 2022 for HUMBL to acquire Agora Digital Holdings, the company behind crypto miner Bitstream Mining. The original terms of the Securities Exchange Agreement provided for owners to receive $60,000,000 in a new class of HUMBL preferred stock in consideration for selling their interests in Agora Digital to HUMBL. The transaction was subject to various closing conditions, and despite working diligently over the last month, the parties were unable to reach agreement on key terms required to close. As a result, the parties have mutually agreed to terminate the Securities Exchange Agreement.
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