Life Clips, Inc. (OTCQB: LCLP) is engaged as a sourcing, logistics, sales and marketing services provider. Shares of the service provider are surging 50%, through early trading on Monday, July 31, 2017. Over the past month, Life Clips, Inc. has seen average daily volume of 5.5 million shares. However, volume of 22.85 million shares or dollar volume of $61,695, has already exchanged hands on Monday.

Shares of Life Clips, Inc. are jumping Monday, after the company announced it has launched a new business division. The new business will feature government and military procurement and sourcing for the U.S., NATO, and other foreign governments. The new division is made possible through its acquisition of Ascenda International Corporation. Here is the full press detailing of the new business division:

Life Clips, Inc. Press Release:

AVENTURA, Fla., July 31, 2017 (GLOBE NEWSWIRE) —  Life Clips, Inc. (OTCQB:LCLP) (the “Company”) a provider of global sourcing, supply chain, logistics and sales and marketing services, announced today it has formed a new division to pursue government and military sourcing and procurement opportunities. This division will be led by DOD veteran, Edward J. Schmidt.

Ed’s international background and accomplishments supported US (DOD/State Department), NATO, United Nations and foreign government (MOD/MOI) defense and aerospace development and sustainment for land, air and sea platforms.  His military background in various commands and senior staff positions provided leadership, resource management, and major logistic support to successfully deploy, sustain, and transition US and NATO forces, globally.  Ed’s 20+ years in the private sector led startups, M&A, change management, and global sourcing for IT, Managed Services and Defense/Aerospace industry.  Ed is a Senior Advisor to the National Defense Industry Association (NDIA) as well as Picatinny Arsenal, Aberdeen Proving Ground and UN – Office of Disarmament Affairs.  Previously, under the US Army Congressional Fellowship Program, Ed served as Program Lead and Recruiting Liaison Officer (RLO) for Japan’s Ground Defense Force (GDF), which for the first time in Japan’s history met its National GDF recruiting goals and objectives.  Ed’s professional credibility is further enhanced by his MBA from Air University/Syracuse University and his Bachelor of Science in Business Administration from Saint Norbert College, coupled with his military service as a Defense Comptroller and Contracting Officer.

Commenting on the new division and the appointment of Mr. Schmidt, Huey Long, Life Clips CEO, stated “The acquisition of Ascenda, coupled with our organic sourcing and logistics growth, has positioned Life Clips to pursue the multi- billion dollar Government and Military Procurement and Sourcing opportunities. By forming this new division, we will be in a position to pursue both domestic and international contracting and bidding opportunities. There is no better executive to lead this group than Ed Schmidt. Ed is a seasoned government and military executive and has served our country for many years. I look forward to working with Ed to rapidly grow this division.”

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 With its main offices in Shanghai, China, Ascenda has been in continuous trading operations for 17 years with bi-directional trading and import/export capabilities in China, Taiwan, Korea, Japan, Indonesia, Mexico, Brazil, Argentina, United Kingdom, United States, France, Spain, Germany, Italy, and Israel. Ascenda operates around the world with a network of hundreds of factories, logistics and supply chain suppliers. In 2003 Ascenda introduced the concept of “Speed Sourcing” for its clients offering end to end sourcing at a fraction of the cost and time compared to traditional exporters and export service providers. The services include; design, licensing, factory qualifications and negotiating, financial services, import and export, sales, and end to end supply chain services 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.

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