Ecoark Holdings Announces Termination of Agreement With HUMBL to Sell Agora Digital Holdings, Inc. to HUMBL

SAN ANTONIO, Sept. 16, 2022 (GLOBE NEWSWIRE) — Ecoark Holdings, Inc. (“Ecoark”) (Nasdaq:ZEST) has announced it has terminated the Securities Exchange Agreement previously announced on August 11, 2022, for HUMBL to acquire Ecoark’s approximately 89% owned subsidiary, Agora Digital Holdings, Inc. (“Agora Digital”). The original terms of the Securities Exchange Agreement provided for Ecoark and the remaining owners of Agora Digital 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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