Tickers: XCNQ:LNK, PINX:LGLOF
Tags: #Mining, #Technology, #Blockchain
VANCOUVER, BC, CANADA - TheNewswire - MAY 1, 2020, LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK) (CNSX:LNK.CN) (FRA:LGT) (OTC:LGLOF) ("LINK" or the "Company") is providing an update on the status of the filing of its annual financial statements for the fiscal year ending November 30, 2019 and its interim financial statements for the three-month period ending February 29, 2020, including the accompanying management's discussion and analysis and related CEO and CFO certifications.
As previously announced on March 30, 2020, the Company is relying on the 45-day extension being offered by various securities regulators in Canada, in response to the COVID-19 pandemic, for certain periodic filings that are required to be made on or before June 1, 2020. Specifically, the Alberta Securities Commission enacted Blanket Order 51-517, Temporary Exemption from Certain Corporate Finance Requirements ("BO 51-517") and the British Columbia Securities Commission enacted BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements ("BCI 51-515")
The Company, being a reporting issued in Alberta and British Columbia, is relying on the temporary exemptions pursuant to BO 51-517 and BCI 51-515 with respect to the following: (i) the requirement to file audited financial statements for the year ended November 30, 2019 and the interim period ended February 29, 2020 (the "Financial Statements") within 120 days of the Company's financial year end and 60 days after the end of the mentioned interim period, respectively, as required by sections 4.2(b) and 4.4(b) of National Instrument 51-102 ("NI 51-102"); (ii) the requirement to file management discussion and analysis (the "MD&A") for the period covered by the Financial Statements within 120 days of the Company's financial year end (with respect of the annual financial statements) and within 60 days of the mentioned interim period (with respect of the mentioned interim financial statements) required by section 5.1(2) of NI 51-102; and (iii) the requirement to file certifications of the Financial Statements (the "Certificates" and together with the Financial Statements, the "Filings") pursuant to sections 4.1 and 5.1 of National Instrument 52-109.
Recent events pertaining to COVID-19 have impacted the ability of the Company, its employees and its auditors to rely on timely information and to prepare the Financial Statements and MD&A. The Company is working closely with its auditors and anticipates it will file the Filings by May 15, 2020 (in respect of the annual financial statements) and June 16, 2020 (in respect of the mentioned interim financial statements).
In the interim, members of the Company's management and other insiders are subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company confirms there have been no material business developments other than those that have been previously disclosed in the Company's news releases and filings.
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 the anticipated timing of the filing of the Company's audited annual and interim financial statements and MD&A for its most recently completed financial year and most recently completely fiscal quarter, 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.
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