Form of Exchange Agreement used in our March 28, 2022 note for common stock exchange transaction
THE EXCHANGE CONTEMPLATED HEREIN IS INTENDED TO COMPORT WITH THE REQUIREMENTS OF SECTION 3(a)(9) OF THE SECURITIES ACT OF 1933, AS AMENDED.
This Exchange Agreement (this “Agreement”) is entered into as of March __, 2022 (the “Effective Date”) by and between [_______], an individual (“Investor”), and HUMBL, Inc., a Delaware corporation (“Company”).
A. Company issued to Investor that certain Convertible Promissory Note in the original principal amount of $[______] on [________] (the “Note”).
B. Company and Investor desire to exchange (such exchange is referred to as the “Note Exchange”) the Note for [________] shares of Company’s common stock (the “Exchange Shares”) according to the terms and conditions of this Agreement.
C. The Note Exchange will consist of Investor surrendering the Note in exchange for the Exchange Shares.
D. Other than the surrender of the Note, no consideration of any kind whatsoever will be given by Investor to Company in connection with this Agreement.
E. Investor and Company now desire to exchange the Note for the Exchange Shares on the terms and conditions set forth herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of whi