VANCOUVER, BC / ACCESSWIRE / January 28, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC Pink:LGLOF) (“LINK” or the “Company”), an innovative power and infrastructure solutions provider for Bitcoin mining and data hosting operations, is pleased to announce the signing of a letter of intent (“LOI”) dated January 22, 2021 with Starco Fuels LLC (“Starco”) for the supply of up to 40 megawatts (MW) of generators for Bitcoin mining operations in Canada and United States.
Under the terms of the LOI, Starco has agreed to be responsible for the acquisition, transport, and installation of generators with the capability of delivering 40 MW of electrical power. Link has agreed to be responsible for the gas supply and all other aspects of the transaction including without limitation: site preparation, delivery of and linkage to the gas supply, transmission lines, Bitcoin container connections, and operation and maintenance of the generators to OEM specifications, including all personnel.
Under the LOI, the parties have agreed to negotiate a definitive three party joint operating agreement with a third party gas supplier within ten days of the execution of the LOI, which would supersede the LOI in its entirety.
Starco Fuels LLC, established in 2012, is a privately owned company headquartered in Southeast Texas. Starco has a diverse team with over 80 years of combined experience in gas, entrepreneurship, management, legislation, and distribution industries. Starco is one of many successful businesses under the leadership of Mr. Tahir Javid. Mr. Javed is a business magnate, investor, and philanthropist. He has developed a vertically-integrated corporate enterprise across wholesale retail, healthcare services, real estate, and agriculture sectors that today employs thousands of people across the globe.
With the addition of Starco, Link will now have approximately 60 MW of power generating capacity in Canada and in the United States, with 8.75 MW in operations in Alberta, Canada.
Link President and Chief Executive Officer Stephen Jenkins commented, “We are pleased to announce the creation of, what is sure to be, a ground-breaking relationship. The plans with Starco are exactly what we have envisioned within our pathway to success including the expansion of assets in the United States and already disclosed international opportunities. Mr. Javed, Starco’s charismatic President, and CEO, will add a new level of opportunities and value to our company and shareholders.”
Mr, Tahir Javed has also enthusiastically stated, “We are excited to venture into this cross-border relationship with Mr. Jenkins and Link Global. The synergies between the two companies promise to be mutually beneficial while addressing much needed environmental solutions with regards to abandoned and dormant natural gas sites.”
About Link Global Technologies Inc.
Link is engaged in the business of providing infrastructure and operating expertise for digital mining and data hosting operations. Link‘s objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power, and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services.
On behalf of Link Global Technologies Inc.
Chief Executive Officer
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION. This news release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “forecast”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes”, or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results “may”, “would”, “could”, “should” or “might” occur. Forward-looking statements made in this news release include, but are not limited, to the intended use of proceeds from the debt financing; expectations with respect to the new power site; and other statements regarding the business plans of the Company. All such forward-looking statements are based on factors or assumptions applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions, and expected future developments. Since forward-looking statements relate to future events and conditions, they require making assumptions and involving inherent risks and uncertainties by their very nature. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation: that actual results from the new power site may differ from the Company’s expectations; those set out in the Company’s most recent MD&A, fluctuations in the price of electricity, fluctuations in the price of digital currencies/Bitcoin, the future potential halving of Bitcoin, increases in the network difficulty rate and price of digital currencies/Bitcoin, negative changes in the level of digital currency/Bitcoin rewards per block, the securing of economic rates for the purchase of power, the opportunities for acquiring digital currency mining hardware, unanticipated changes in laws, regulations or other industry standards affecting the business of the Company, reliance on key management personnel, the Company’s ability to implement its business plan, litigation risk, stock price volatility, the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.