VANCOUVER, BC, CANADA, JANUARY 7, 2021, LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT; OTC: LGLOF) (“LINK” or the “Company”), an innovative power and infrastructure solutions provider for Bitcoin mining and data hosting operations, is pleased to announce the closing of its non-brokered private placement (the “Financing”) previously announced on December 23, 2020, by issuing 2,911,300 units (each, a “Unit”) at a price of CAD $0.35 per Unit for the total gross proceeds of CAD $1,018,955. Each Unit consists of one common share of the Company (each, a “Share”) and one-half of one transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional Share at a price of CAD $0.50 per Share for a period of 18 months from the date of closing of the Financing.
The Company paid finders’ fees of CAD $47,886 and issued 136,818 finders’ warrants, each of which entitles the holder to purchase one Share at a price of CAD $0.50 for 18 months from the date of closing of the Financing. All securities issued in the Financing are subject to a four-month hold period expiring May 8, 2021.
Link intends to use the net proceeds from the Financing for:
- The commissioning of new 10 Megawatt (MW) power sites in Alberta. Link is generating power from dormant and stranded natural gas assets, and supplying this power via fixed-price contracts to its clients, which include Bitcoin miners and data hosting operations. This site will generate an additional revenue of USD $350,000 per month for Link, as previously announced in a press release dated January 4, 2021.
- The acquisition of up to 1600 ASICS Miners from an undisclosed party, which the Company will use to mine its own supply of Bitcoin.
- Marketing and general working capital purposes.
Link President and Chief Executive Officer Stephen Jenkins commented, “We are very pleased with the level of interest in Link’s latest financing, and we appreciate the support from our new and existing shareholders. We are executing on our business plan as previously outlined in March 2020, and have since secured over 20 Megawatts (MW) of power-generating assets, of which 8.5 MW has been in operation since June 2020, generating revenues in excess of USD $1.5 million (unaudited) for the Company. We are now in a position to mobilize our own fleet of crypto mining machines to self-mine for Bitcoin, with the added advantage of leveraging our growing supply of low-cost, reliable power, generated from dormant and stranded natural gas assets. Link has substantial experience in operating crypto mining machines and the Company looks forward to commencing its Bitcoin mining operations in the near future.”
None of the securities acquired in connection with the Financing will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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.