Ask Robert about the $50 Million LOC and why the need for another 1A:
March 23, 2022
Life Clips, Inc. Announces $50 Million Equity Line for Long Term Growth and Expansion
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.”
