$Tesoro Enterprises, Inc.(TSNP)$San Diego, CA, Feb. 25, 2021 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTCPINK: TSNP) (“HUMBL”), announced today that the Financial Industry Regulatory Authority (“FINRA”) has processed the company’s corporate actions, as requested, and has had its name changed to HUMBL, Inc.

In addition to the change in the company’s name, HUMBL has executed a one for four (1:4) reverse split of its common stock, and made other changes to its share structure, including the creation of restricted preferred classes of shares which will be issued to former members of HUMBL, LLC and prospective investors of HUMBL. The authorized number of shares stated reflects these preferred shares on a presumed fully diluted basis.

In discussion about the reverse split, HUMBL’s COO and Corporate Secretary, Jeffrey Hinshaw, stated, “The company’s Board of Directors concluded that it was important to quell the volatility in the share price. Prospective investors and current shareholders were concerned that it was difficult to pinpoint the true value of the common shares. Furthermore, this will force any outstanding short positions to cover their position. The board was also sympathetic to the need not to wipe out the holdings of the shareholders, and therefore determined that this small reverse split would satisfy both requirements.”

As a result of the reverse split, HUMBL’s stock symbol will change to “TSNPD” on February 25, 2021 and then to “HMBL” on March 26, 2021.