CENTENNIAL, Colo., April 10, 2025--(BUSINESS WIRE)--NUBURU, Inc. (NYSE American: BURU), a leader in high-power blue laser technology, today announced the unwinding of its previously announced $2 million Share Exchange Agreement and partnership with HUMBL, Inc. (OTC: HMBL), effective immediately. After a thorough strategic review, NUBURU's management has determined that continuing the partnership no longer aligns with its core business objectives.
Initially announced on February 28, 2025, the partnership aimed to leverage NUBURU's innovative laser technologies and HUMBL's distribution capabilities in Brazil with aspirations for broader market expansion in Latin America. However, NUBURU is now refocusing its strategic efforts solely on consolidating its position in the defense and security sectors, where it is experiencing significant growth and development.
Alessandro Zamboni, Executive Chairman of NUBURU, stated, "While our initial collaboration with HUMBL presented promising opportunities, it has become clear that pursuing our strategic transformation within the defense and technology sectors requires our full attention and resources. We believe that unwinding this agreement is in the best interest of our shareholders and aligns with our vision to innovate and expand our capabilities in high-demand areas."
NUBURU remains committed to its strategic plan, which includes a Joint-Pursuit Agreement (JPA) with a defense-tech company to develop cutting-edge solutions utilizing directed energy weapons and advanced surveillance systems. As the company progresses with its acquisitions and product development, it is dedicated to enhancing its technological offerings and delivering shareholder value.
NUBURU's focus continues to be on advancing its technology and integrating artificial intelligence, robotic process automation, and innovative fintech platforms, ensuring it meets the evolving needs of its target markets effectively.
About NUBURU
NUBURU, Inc. was founded in 2015 as a developer and manufacturer of industrial blue laser technology that is transforming the speed and quality of laser-based manufacturing. Under its new management team led by Executive Chairman Alessandro Zamboni, NUBURU is executing a comprehensive growth and diversification strategy, expanding into complementary domains such as defense-tech, security, and operational resilience solutions. Headquartered in Centennial, Colorado, NUBURU is leveraging strategic partnerships and acquisitions to accelerate growth in high-value sectors. For more information, visit www.nuburu.net.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release may be forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "plan," "seek," "targets," "projects," "could," "would," "continue," "forecast" or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts, and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Many factors may cause the Company's actual results to differ materially from current expectations, including but are not limited to: (1) the ability to meet security exchange listing standards; (2) the impact of the loss of the Company’s patent portfolio through the previously announced foreclosure; (3) failure to achieve expectations regarding business development and the Company’s acquisition strategy; (4) the inability to access sufficient capital to operate; (5) the inability to recognize the anticipated benefits of the initial business combination and the current transaction, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) changes in applicable laws or regulations; (7) adverse impacts of general economic, business, and competitive factors; (8) volatility in the financial system and markets caused by geopolitical and economic factors; and (9) other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company’s most recent periodic report on Form 10-K or Form 10-Q and other documents filed with the SEC from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company does not give any assurance that it will achieve its expected results. The Company assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by applicable law.
