Life Clips forms new division, CannabAscenda, to provide global sourcing, supply chain and logistics services to the cannabis industry

August 07, 2017

AVENTURA, Fla., Aug. 07, 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 that it has formed a new division, CannabAscenda, to provide global sourcing services to the cannabis industry. The new Company will focus on products and paraphernalia that can be sourced anywhere in the world and provide total logistics solutions and sales and marketing services.

Commenting on the formation of CannabAscenda, Huey Long, CEO of LifeClips stated: “with the launch of our new business model and the recent acquisition of Ascenda, we have a natural platform to evolve into a global sourcing provider for many business lines and products. With the rapid growth and proliferation of medicinal and recreational cannabis, we can immediately source and provide higher quality and more cost effective products and paraphernalia than those currently on the market. Our global logistics solutions specialize in end to end delivery in highly regulated industries and our multi-channel sales and marketing team are experts in getting these products into the consumer’s hands.”

The Company will focus on providing the industry with sourcing and logistics solutions and sales and marketing solutions for products and paraphernalia only. The Company does not currently intend to grow, distribute or sell hemp.

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," "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.


For Business, Marketing and Sales
Huey Long
Chief Executive Officer

Life Clips Investor Relations
David Kugelman
Atlanta Capital Partners, LLC
(404) 856-9157
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