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Saturday, July 24, 2021

Life Clips Inc (OTCMKTS: LCLP) Powerful Move on Blockchain Technology & Digital Asset Exchange Solutions Operator Belfrics Group Acquisition

Life Clips Inc (OTCMKTS: LCLP) is making a powerful move up the charts on record volume after the Company announced it has agreed to acquire Belfrics Group a global blockchain technology firm that runs cryptocurrency exchanges on its proprietary platform. LCLP is under heavy accumulation and moving up quickly with momentum. The stock is emerging as among the most actively searched and talked about stocks in small caps trading over $30 million in dollar volume on Monday alone. LCLP is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars. Currently on a collision course with $0.0619 LCLP is stretching its legs for a blue-sky breakout! 

LCLP made a big move entering the $2 trillion cryptocurrency market expected to reach $8 trillion dollars by 2030, by acquiring Belfrics Group. Belfrics currently has a presence in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, and Bahrain; and it has the capability to process over 1 million transactions per second. Belfrics Group specializes in blockchain technology and digital asset exchange solutions. Belfrics runs two distinct business verticals: Digital asset exchange and blockchain division. Belfrics is one among the few regulated exchanges across the globe, that provides regulated digital asset trading solutions. Belrium, the proprietary blockchain developed by Belfrics, acts the central focal point of the blockchain division. Belrium, which is a hybrid private-public blockchain solution, focusses on identity management on blockchain for decentralized transactions. 

Life Clips Inc (OTCMKTS: LCLP) is the parent company of Cognitive Apps Software Solutions Inc. and distributes single-use and cordless batteries under the Mobeego brand for use with cellular phones and other mobile devices. Cognitive Apps is an AI-Powered mental health analytics platform that empowers businesses to measure, understand, and improve mental well-being of their employees, patients and customers. Drug development for mental health disorders and other cognitive impairments is hampered by the inability to identify at risk groups before the onset of clinically significant symptoms, as well as continuous assessments on the progress made by the participants. Cognitive Apps is addressing this problem by pioneering a speech-based AI technology which could help accurately predict risk for various types of depression and mood and anxiety-based disorders years before a clinical diagnosis is obtained. Our technology can help detect and monitor subtle changes in mental state by assessing individuals more frequently and more objectively than the assessments used today. The speech and voice recognition market is expected to grow at a CAGR of 17.2% from 2019 to 2025 to reach $26.79 billion by 2025. 

The stock has skyrocketed since Life Clips announced, it has agreed to acquire Belfrics Group a global blockchain technology firm that runs cryptocurrency exchanges on its proprietary platform. Belfrics currently has a presence in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, and Bahrain; and it has the capability to process over 1 million transactions per second.  

The cryptocurrency market is expected to reach $8 trillion dollars by 2030, while the market for blockchain technology is expected to add $176 billion to the US GDP during the same period. Founded in 2014, the Belfrics digital exchange platform, which was fully developed in-house, is one of the most compliant platforms in the cryptocurrency industry. Supported by the proprietary technology of Belrium blockchain KYC solution, the KYC and AML process of Belfrics Exchange is well accepted by regulators globally. With 10 operational offices in 8 countries, Belfrics provides localized and personalized support to digital currency traders. Through its blockchain Academy, Belfrics provides continuous training to traders, developers and blockchain enthusiasts in more than 20 countries. Belfrics is licensed and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia.

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The Company is led by Robert Grinberg, an executive with more than 30 years of experience in the financial services industry. In 1997, Mr. Grinberg opened his own independent broker dealer, Program Trading Corp. Later he sold the Company to further the evolution of his business model by becoming a private investor and placing millions of dollars to work in various industries, ranging from oil and gas, healthcare, logistics, biotechnology, digital therapeutics to cannabis. Mr. Grinberg has been privately financing companies for almost 20 years and has extensive knowledge of securities trading, private placements, mergers and acquisitions, and public financing. Robert Grinberg was appointed CEO of Life Clips, Inc. in January 2021 and is making monumental strides in advancing the Company’s strategic future plans.

Life Clips CEO Robert Grinberg commented: “It has taken a tremendous amount of work to prepare Life Clips for this landmark moment. We are proud to have reached this milestone for our shareholders by becoming current and settling previous liabilities of the Company to the satisfaction of our acquisition candidate. According to PwC, the total volume of mergers and acquisitions in the cryptocurrency industry more than doubled from $481 million in 2019 to $1.1 billion in 2020. The average deal size increased from $19 million in 2019 to nearly $53 million. Major global cryptocurrency exchanges like Binance, FTX and Coinbase made the top three acquisitions in the crypto industry in 2020. We welcome Praveen and his team to our family and look forward to providing them with the resources to take their world class cryptocurrency exchange and platform to the next level.” 

Belfrics CEO and Founder, Praveen Kumar, will remain the CEO of Belfrics, while Robert Grinberg will serve as CEO of Life Clips. Mr. Praveen Kumar stated: “This is an exciting time for Belfrics. After many years of hard work building a global exchange for cryptocurrency and the most secured trading platform, it is time to spread our wings globally. The acquisition of Belfrics by Life Clips will help expand the reach of both our cryptocurrency platform and our blockchain solutions, which will create an impact worldwide.” 

Belfrics Group specializes in blockchain technology and digital asset exchange solutions. Belfrics runs two distinct business verticals: Digital asset exchange and blockchain division. Belfrics is one among the few regulated exchanges across the globe, that provides regulated digital asset trading solutions. Belrium, the proprietary blockchain developed by Belfrics, acts the central focal point of the blockchain division. Belrium, which is a hybrid private-public blockchain solution, focusses on identity management on blockchain for decentralized transactions. 

The Belfrics Group acquisition is expected to close in the second quarter. The final number of shares issuable upon closing is subject to adjustment prior to closing. All shares issuable pursuant to the acquisition will be restricted securities subject to statutory resale restrictions. 

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Life Clips Inc is making a powerful move up the charts on record volume after the Company announced it has agreed to acquire Belfrics Group a global blockchain technology firm that runs cryptocurrency exchanges on its proprietary platform. LCLP is under heavy accumulation and moving up quickly with momentum. The stock is emerging as among the most actively searched and talked about stocks in small caps trading over $30 million in dollar volume on Monday alone. LCLP is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars. Currently on a collision course with $0.0619 LCLP is stretching its legs for a blue-sky breakout!  LCLP made a big move entering the $2 trillion cryptocurrency market expected to reach $8 trillion dollars by 2030, by acquiring Belfrics Group. Belfrics currently has a presence in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, and Bahrain; and it has the capability to process over 1 million transactions per second. Belfrics Group specializes in blockchain technology and digital asset exchange solutions. Belfrics runs two distinct business verticals: Digital asset exchange and blockchain division. Belfrics is one among the few regulated exchanges across the globe, that provides regulated digital asset trading solutions. Belrium, the proprietary blockchain developed by Belfrics, acts the central focal point of the blockchain division. Belrium, which is a hybrid private-public blockchain solution, focusses on identity management on blockchain for decentralized transactions. We wil be updating on LCLP so make sure you Subscribe to Microcapdaily so you know what’s going on with LCLP.

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Disclosure: we hold no position in LCLP either long or short and we have not been compensated for this article.

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