Life Clips Inc (fka LCLP)

[Dolly Llama]

Life Clips, Inc. Announces $50 Million Equity Line for Long Term Growth and Expansion

https://www.globenewswire.com/news-release/2022/03/23/2408681/0/en/Life-Clips-Inc-Announces-50-Million-Equity-Line-for-Long-Term-Growth-and-Expansion.html

Life Clips, Inc. Announces $50 Million Equity Line for Long Term Growth and Expansion
March 23, 2022 09:30 ET | Source: Life Clips Inc.




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AVENTURA, Fla., March 23, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) announced today plans to ramp up growth of its Belfrics subsidiary as the Company has secured a commitment for up to $50,000,000 in financing under an equity line of credit.

Robert Grinberg, CEO of Life Clips, said, "We believe by raising capital and putting it to work we will see growth in our bottom-line business, creating shareholder value." Mr. Grinberg continued, “We saw a direct correlation between our investment of money raised through our previous Regulation A offering and an increase in Belfrics’ revenue."

Life Clips will use the proceeds from these transactions expand its fast-growing Belfrics subsidiary by investing in technology, developing new products, expanding to new markets, and hiring quality employees.

Mr. Grinberg added, “We have taken a thoughtful approach to our capital structure over the past year. Our goal has been to raise capital at the lowest cost possible to our shareholders.”

Praveen Kumar, CEO of Life Clips’ Belfrics subsidiary, said, “Belfrics will immediately start deploying capital to bolster our systems and growth. We look to continue the success we achieved in the last quarter.”

About Us

Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by individuals and companies to raise awareness of employees’ mental health. Cognitive Apps is developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Aiki is available on Apple‘s App Store.

For more information on Life Clips visit www.lifeclips.com

For more information on Belfrics Global visit www.belfricsgroup.com

For more information on Cognitive Apps Software Solutions visit https://cogapps.com