CHARLOTTE, N.C., May 16, 2016 (GLOBE NEWSWIRE) -- Life Clips, Inc. (LCLP), an innovative brand of products revolutionizing the way people capture, manage, enjoy, and share life's moments, announced today that the Company has closed a private financing transaction for $700,000. The transaction gives the Company the necessary capital requirements to finalize the acquisition of Batteryfly Energy, LTD and their Mobeego product line. The financing comes just days after the Company filed an 8K announcing a private financing of $300,000 from another existing shareholder.
The capital raised will be used to close the Batteryfly acquisition as well as fulfilling inventory to meet retail and distribution demand for the Mobeego products.
CEO Bob Gruder stated, “This financing, by affiliates of our existing shareholders allows us to move forward to close on our much anticipated Batteryfly acquisition. I believe this is a great testament to the faith our existing, private investors have in the direction of LifeClips and the products the Company is bringing to market. I appreciate their eagerness to keep investments within its group and am excited to have support by similarly long-term minded individuals.”
Mr. Gruder continued; “I think the Mobeego battery will be great for anyone that needs a quick power supply to their phone or action camera. Individuals can keep them on hand as they have a 10-year shelf life and do not require any pre-charge. They are affordable and very easy to use. Mobeego is currently sold in 14 countries including Canada, United Kingdom, Malaysia, France and Russia. Mobeego is a global tech gadget and excellent addition to our pipeline that complements our SoloVu™ 4k action camera perfectly.”
The Company will file an 8K detailing the investment.
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.
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