AVENTURA, FLORIDA--(Marketwired - Apr 25, 2017) - Life Clips, Inc. (LCLP) (the "Company") a designer and seller of mobile accessories, and provider of global sourcing and sales and marketing services, announced today that it has secured a commitment for an investment of $450,000 from existing investors. The investment is for general operating expenses and growth capital to fund the expansion of its sourcing operations and sales and marketing capability in the United States and international markets, as well as acquisitions.
Life Clips is transitioning to become a service provider specializing in end to end product development, factory sourcing and negotiations, factory production management, total logistics management and PO financing. We are also expanding into multi-channel sales and marketing services. Our primary focus moving forward will be to focus on importing and exporting products to sell globally, including the US, China, Europe, Mexico, Central America, South America and Canada. We are currently performing this service for our customers and plan to leverage these capabilities for our own products.
Huey Long, Life Clips President and Chief Executive Officer, said "We are grateful to our investors for showing enthusiasm for our new business plan. We look forward over the next few months in expanding our Mobeego products as well as our new Global Sourcing Services and Sales and Marketing Services."
Safe Harbor Statement
In addition to statements of current and historical fact, this Press Release contains forward-looking statements. The words "forecast," "will," "intend," "anticipate," "project," "intend," "expect," "should," "believe" and similar expressions are intended to identify forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Press Release, we caution you that these statements are based on a combination of facts and factors currently known by Life Clips and its projections of the future, about which it cannot be certain. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, including those discussed in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Life Clips' annual report on Form 10-Q and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the "SEC"), as well as matters discussed in Life Clips' financial statements and related notes and other filings with the SEC, which may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Accordingly, all forward-looking statements should be evaluated with an understanding of their inherent uncertainty. Except as required by law, Life Clips assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. All distribution agreements call for minimum quarterly quotas. There is a risk that the distributor will not meet these quarterly quotas. In the event the quotas are not met the agreements are in breech which could void the agreement. Therefore the dollar volumes may not be attained.