VANCOUVER, BC, CANADA, MAY 19,2020, LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK;
FRA: LGT; OTC:
LGLOF)(“LINK” or the “Company”) announces that it
commissioned the first stage of mining operations at its Kirkwall, Alberta site.
As previously announced on March 24, 2020, Link has secured up to 50 megawatts (MW) of electricity for its cryptocurrency mining community under a letter of intent(“LOI”) with its partners in Alberta, allowing for 15,000 new generation machines. Stephen Jenkins, President of Link says, “it is great that Link has been able to transition to operations in Alberta so quickly and efficiently. We were able to stay on schedule, on budget and the operations team deserves a lot of credit.”Link will continue to expand our operations as we already see the cost savings on power. With the halving taken place a week ago we are now able to see the effect on earnings and it clearly shows the price of power as one of the most critical components to success. With Sichuan Province in China recently offering miners low prices for the rainy season, we can do one-up and offer miners low prices year-round.”
The Company also announces that it has granted an aggregate of 550,000 stock options to purchase up to 550,000 common shares of the Company to one officer and three consultants of the Company. Of the 550,000 options, 375,000 vest as to 12.5% every three months for 2 years following the date of grant and are exerc sable for a period of 5 years from the date of grant at a price of $0.35 per common share and 175,000 vest immediately upon the grant and are exercisable for a period of 2 years from the date of grant at a price of $0.35 per common share. Theoptions and the common shares issuable upon the exercise of
the options held by the optionees are subject to stock options.
hold period of four months from the date of grant of the
About Link Global TechnologiesInc.
Link is engaged in the business of providing infrastructure and operating expertise for digital mining 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 energy and infrastructure for other data-hosting services.
On behalf of Link Global Technologies Inc. Robert Pirooz
For more information visit http://linkglobal.io/ or contact:
Steve Jenkins firstname.lastname@example.org
The CSE hasnot reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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 relate to: the LOI with the Company’s partners in Alberta, which could allow for 15,000 new generation machines; the statement that Link will continue to expand its operations; the statement that Link can offer miners low prices year-round;and other matters relating to the Company’s business plans.
All such forward-looking statements are based on the reasonable beliefs, expectations and opinions of the relevant management as of the date such statements are made; and are subject to risks, uncertainties, assumptions and other factors that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. In the case of the Company, these risks, uncertainties, assumptions and other factors include,without limitation, 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, material adverse consequences of the COVID-19 pandemic; unanticipated changes in laws,regulations or other industry standards affecting the business of the Company;the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For a complete discussion with respect to the Company and the risks associated with forward-looking statements, please refer to the Company’s financial statements and related MD&A, as well as other documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission and that Alberta Securities Commission, which are filed on SEDAR at www.sedar.com.