Life Clips, Inc. announced that on June 22, 2017, in connection with the Transactions and as required by the SPA, the company named Donald Su Yo Ruan, as President/CEO of Asia Operations of the Company. Mr. Ruan was also named as a Director of the company on the same date, following a resolution of the Board of Directors (the “Board”) of the Company to expand the size of the Board from 4 to 5 persons, and to name Mr. Ruan to the newly created vacancy and to serve as the Chairman of the Board, in each case in accordance with the Bylaws of the company. Life Clips believes that Mr. Ruan’s deep and extensive experience, as set forth below, and particularly his success at operating and growing the operations of Ascenda Corporation and the Targets, makes him uniquely qualified to help lead Life Clips going forward. Mr. Ruan has extensive knowledge and experience with operations such as those of Life Clips, both currently and going forward, including experience with respect to design, licensing, import and supply chain services, as well as negotiating and coordinating with factories, managing logistics and ensuring that products are where they need to be, on time.