CHARLOTTE, N.C., Aug. 11, 2016 /PRNewswire/ -- Life Clips®, Inc. (OTC-QB: LCLP), an innovative brand of products revolutionizing the way people capture, manage, enjoy, and charge the devices that share life's moments is pleased to announce that it has signed a distribution agreement with BConnexion of Brazil. The agreement calls for annual minimum quota purchases of 500,000 Mobeego ® units with a total value of at least $800,000 USD. Quarterly quotas must be met to maintain the agreement.
Bob Gruder, CEO of Life Clips, Inc., states, "Once again we've proven our model to continue growing in the global marketplace. This agreement with BConnexion opens the door for more opportunity in Latin America. BConnexion has experience in selling green products. Because the Mobeego battery can be recycled, this is perfect fit for them. Industry analysis shows that this market will be a hotbed for growth over the next few years and establishing a market now could allow us to gain mass appeal during the boom phase."
According to research* from the GSMA, the international association of mobile service providers, estimates show that by 2020, smartphones are expected to comprise 68% of all phone connections in the region. In absolute numbers, this will mean that there will be more than 605 million smartphones in the region by the year 2020.
"Our entry into Brazil presents a great opportunity and yet another revenue stream for Life Clips and the Mobeego® brand," Gruder added. "BConnexion has a solid foothold within the Brazilian market and we'll look to capitalize on their key relationships moving forward."
About Life Clips®, Inc:
Life Clips is a developer and manufacturer of action cameras aimed at families, action sports enthusiasts, and those on vacation. Life Clips also offers innovative accessories like one time use batteries Mobeego® for mobile devices. Our future cameras will allow for live streaming and filming an event from more than one perspective. High quality videos and stills can be taken from unique positions. www.LifeClips.com
The Mobeego® brand launched in November 2015. Mobeego® is available within 16 different countries and has sold north of 450,000 units. Mobeego®'s anticipated revenue before the end of Q3 of this year is $1,000,000. The Mobeego® product is an affordable & award winning one time use wireless, disposable & recyclable battery that plugs directly into one's mobile device, iPad, or action camera. The products can be seen at the Mobeego site: www.mobeego.com.
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.
External Link For GSMA Research: http://knowledge.wharton.upenn.edu/article/why-latin-america-is-the-next-big-mobile-battleground/
Chief Executive Officer
Life Clips Investor Relations
Atlanta Capital Partners, LLC
(866) 692-6847 Toll Free - U.S. And Canada
SOURCE Life Clips, Inc.