Currency is in Canadian dollars unless specified otherwise
VANCOUVER, BC, CANADA, MARCH 4, 2020, LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT;OTC: LGLOF) (“LINK” or the “Company”) today announced that it has closed a first tranche (the “First Tranche”) of a non-brokered private placement financing (the “Financing”). The First Tranche consisted of 2,500,000 units (each, a “Unit”) of the Company at a price of $0.32 per Unit for gross proceeds of $800,000. 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 $0.64 per Share for a period of two (2) years from the closing of the Financing. The Company expects to close a second tranche of the Financing in a timely manner. The Company also announce sit has extinguished debt in the amount of $500,000 owed by the Company to an existing shareholder, in exchange for the issuance of 1,562,500 Units (the “Debt Settlement”).
All securities issued in connection with the Financing and the Debt Settlement will be subject to a statutory hold period expiring four months and one day after the closing of the Financing and the Debt Settlement, as applicable.
None of the securities sold in connection with the Offering or issued in connection with the Debt Settlement 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.
Mr. Stephen Jenkins, Link CEO commented, “We are encouraged with another round of investments into Link Global. One of the Company’s original backers prior to the start of operations recently completed a full conversion of debt into shares, which really demonstrates confidence in our abilities to execute. Mr. Jenkins further comments, “As previously discussed in our press release dated January 2, 2020, our plans with Convega Energy and our new Link Cloud Mining platform are moving quickly and this funding support shows the commitment and belief of our shareholders. We look forward to updating the market and our shareholders on further progress in the coming weeks.”
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 https://linkglobal.io/ or contact:
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This news release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as statements that the Company expects to close a second tranche of the Financing in a timely manner; the Company’s plans to update the market and its shareholders on further progress in the coming weeks; and statements regarding the business plans of the Company. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; or (ii) the inability of the Company to close a second tranche of the Financing in a timely manner at all or on the terms announced. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.