Tickers: XCNQ:LNK, PINX:LGLOF
Tags: #Mining, #Technology, #Blockchain
Currency is in Canadian dollars unless specified otherwise
Vancouver, Bc, Canada - TheNewswire - July 14, 2020 - LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK) (CNSX:LNK.CN) (FRA:LGT) (OTC:LGLOF) ("LINK" or the "Company"), a power and infrastructure solutions provider for digital mining and data hosting operation, is pleased to announce a non-brokered private placement of up to 2,121,212 units (each, a "Unit") at a price of $0.33 per Unit for gross proceeds of up to $700,000 (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of $0.66 per Share for a period of two years following the closing of the Offering. The Company intends to use the proceeds from the Offering for: commissioning of the Kirkwell site for tenant's cryptocurrency mining operations and general working capital purposes.
The Company is also pleased to announce the appointment of Mr. Stuart McLaughlin to its Advisory Board. Mr. McLaughlin is President and CEO of Higher Ground Holdings, a privately held investment firm. Mr. McLaughlin was formerly one of the principals in Grouse Mountain Resorts and was the chair of PAVCO Crown Corporation. The Advisory Board provides strategic advice on the direction of the Company, advising and assisting with business development by and for the Company, and facilitating introductions between the Company and third parties who may be in a position to assist in furthering the goals of the Company.
Stephen Jenkins, President and CEO of Link, commented, "Link appreciates the continued support of its shareholders. By accessing strategic capital for the commissioning of the Kirkwell site, we anticipate the generation of substantial revenues that will lead the Company to profitability." Mr. Jenkins further commented, "We are also honoured to have Mr. McLaughlin join the Company as a special advisor. His experience and vision will be a welcome contribution to the development of Link's business model and expansion objectives."
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.
Investors, please 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. Forward-looking statements made in this news release relate to: the Company's ability to obtain and close financing on the proposed terms outlined in this news release, the size and timing of completion of the private placement and debt conversion, the intended use of the net proceeds from the financing, the Company's ability to secure low cost and usable power for the purpose of digital currency miming, completion of 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, 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: adverse market conditions, the inability of the Company to close the private placement financing in a timely manner at all or on the terms announced; in ability of the Company to pursue its business plans; the inability to secure economic rates for the purchase of power, or to capitalize on opportunities for acquiring digital currency mining hardware. 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.
Copyright (c) 2020 TheNewswire - All rights reserved.