VANCOUVER, BC, CANADA, MARCH 24, 2020, LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT; OTC: LGLOF) (“LINK” or the “Company”) is pleased to announce it has significantly advanced its previously announced commitment to secure 50 megawatts (“MW”) of electricity for its cryptocurrency mining community by proceeding with the purchase of a direct interest in certain power-generating assets located in the Province of Alberta.
The Company has agreed to purchase from Convega Energy Ltd. (“Convega”) and Gunnarr Resources Inc. (“Gunnarr”), two Alberta-based energy providers, a 25% stake in certain of their jointly owned petroleum and natural gas rights and assets. Completion of the purchase is subject to the parties negotiating and entering into a definitive asset conveyance agreement and obtaining environmental regulatory approval, both of which are currently being undertaken in good faith by the parties. The Company has paid $300,000 to Convega and Gunnarr to secure completion of the transaction.
President and CEO, Stephen Jenkins commented, “We are moving forward with our program of securing low cost power for our operations. Link has been working closely with Convega and Gunnarr for the past two months and it has been a worthwhile experience. We believe by combining expertise in the power generation and the datacenter space, we can provide one of the best platforms for digital currency operations anywhere in the world.”
About Link Global Technologies Inc.
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.
For more information visit http://linkglobal.io/ or contact:
The CSE has not 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: timely implementation and execution of a definitive asset conveyance agreement, as well as the proposed terms and conditions contained in the agreement, receipt of regulatory and environmental approvals without unexpected delays or conditions that are required for the transfer of rights and assets contemplated in this news release, the Company’s ability to secure low cost and usable power for the purpose of digital currency mining; 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, unanticipated changes in laws, regulations or other industry standards affecting the business of the Company, Convega or Gunnarr, 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