Vancouver, BC – January 21, 2020, Link Global Technologies Inc. (“Link” or the “Company”) (CSE: LNK) is pleased to announce it has signed a letter of intent (“LOI”) with Convega Energy Ltd.(“Convega”) based in Calgary, Alberta. The LOI sets out a partnership between Convega and Link to make available up to 50 megawatts (“MW”)of electricity at favorable rates for the cryptocurrency mining community. Link anticipates this opportunity to be of significant advantage to Link customers when coupled with the Company’s management and maintenance services. As contemplated in the LOI, Link and Convega plan to execute a power supply agreement within the next 15 days.
Under the terms of the LOI, Convega and Link plan to initially supply 3 MWs of electricity and then increase this supply commencing in Q2 of 2020. The initial 3 MWs of power is expected to increase Link’ production capacity by approximately 30 bitcoin (“BTC”) per month.
President and CEO Stephen Jenkins commented on the transaction, “Not only have we aligned ourselves with an experienced energy provider in Convega, but this LOI is an extraordinary milestone for a burgeoning company like Link. We believe it will allow Link to deliver on a promise to supply significant hash power to customers.”
Link has also commenced a program for procurement of state-of-the-art cryptocurrency-focused processors, which it intends to couple with its power supply to make “hash power” available to its customers, as well other potential markets.
Mr. Jenkins further commented, “We plan to maximize the current positive trend in the BTC–US Dollar exchange rate by tapping the two most important elements to bitcoin mining –access to low cost power and use of next generation mining machines.”
About Link Global Technologies Inc.
Link is engaged in the business of supplying energy and 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. Link is headquartered in Vancouver, British Columbia and carries out operations in Boardman, Oregon, USA and Beaver Falls, British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information visit http://linkglobal.io/ or contact:
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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 relate to: completion of a definitive power supply or power purchase agreement, including the timing thereof, as well as the proposed terms and condition of the supply of, and access to, power; ability to make available all usable power for the purpose of digital currency mining; assumptions relating to digital currency/bitcoin production capacity; price of digital currency/bitcoin and the level of digital currency/bitcoin rewards per block; plans for procuring digital currency mining machines; and other matters relating to the Company’s business plans.
All such forward-looking statements are based on the reasonable beliefs, expectation sand 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, the results of negotiations of a definitive power supply or power purchase agreement, 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, plans related to the Company’s business and potential customer base, the securing of economic rates for the purchase of power, the opportunities for acquiring digital currency mining hardware, 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.