Life Clips closes distribution agreements valued at USD1.6m

Life Clips, Inc. (OTC-QB: LCLP) has closed on a distribution deal for Mobeego products in Chile, via independent Chilean distributor Jorge Guinguis, the company said.

The agreement calls for annual minimum quota purchases of 100,000 Mobeego units with a total value of at least USD170,000 USD. Quarterly quotas must be met to maintain the agreement.

This is the third six-figure international distribution agreement within the past 30 days for LCLP. August 4, 2016. LCLP closed on a 400,000 unit Mobeego distribution agreement within Spain and Portugal worth an estimated USD700,000. On August 11, 2016, LCLP closed a distribution agreement in Brazil for 500,000 Mobeego units worth an estimate USD800,000.

Mobeego launched in November 2015 that provides one time use wireless, disposable and recyclable batteries that plug directly into mobile devices, iPad or action camera.