U.S. Markets open in 1 hr 26 mins

Life Clips, Inc. Retires 27.6 Million Shares

AVENTURA, FLORIDA--(Marketwired - Apr 10, 2017) - Life Clips, Inc. (LCLP) (the "Company") a designer and seller of mobile accessories, is pleased to announce 27,617,226 shares of its common stock has been returned and cancelled by the transfer agent. The shares were returned by Robert Gruder who resigned as the Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer of the Company on January 12, 2017. As of Friday, April 7, 2017, Life Clips, Inc. had 79,370,345 shares outstanding.

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.