An Update from the CEO of Link Global Technologies
LINK Global Technologies Inc. (CSE:LNK)(FSE:LGT)(OTC PINK:LGLOF) has provided an update on its compliance efforts with the Alberta Utilities Commission (AUC). Management is confident that the regulatory process will conclude by January 2022. LINK is awaiting final approval from Alberta Environment and Parks for its Westlock and Kirkwall facilities. Despite new emissions regulations and a future carbon tax, LINK reports positive noise and emissions studies. The company has sufficient cash to navigate these regulatory challenges and anticipates growth opportunities in Alberta's digital currency mining market.
- Management expects regulatory compliance process with AUC to conclude by January 2022.
- Positive noise measurement and emission dispersion modeling results.
- Sufficient cash reserves to manage ongoing regulatory issues.
- Anticipated operational readiness in Kirkwall and Westlock facilities by early 2022.
- Accrued expertise positions LINK for accelerated growth in Alberta's digital currency market.
- Increased emissions regulations and upcoming carbon tax may hinder new operations.
- Dependence on AUC and Alberta Environment and Parks for final operational approvals.
VANCOUVER, BC / ACCESSWIRE / December 16, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FSE:LGT)(OTC PINK:LGLOF) ("LINK" or the "Company"), an innovative power and infrastructure solutions provider for digital currency mining and data hosting operations, announces an update on recent activities with the Alberta Utilities Commission ("AUC") and other business.
A message from Stephen Jenkins CEO and Director of Link Global Technologies Inc.
LINK management thanks shareholders for their support and patience as the Company works with the AUC to ensure regulatory compliance on all Alberta sites. The digital currency mining market in Alberta is going through a period of transformation. Businesses, regulators and local governments have all been adapting to this rapid growth.
LINK has been transparent with all regulators throughout the compliance process and we have provided all information requested to date. Management anticipates the regulatory process should be completed by the end of January 2022.
While going through the AUC process, LINK has also been actively meeting with senior Government of Alberta heads, elected officials and agencies, introducing the Company and its vision and presenting the opportunity of the digital currency mining markets for communities in the province. LINK has been received positively and management is confident about the Company's potential in Alberta once the AUC regulatory process has been concluded.
LINK is awaiting final approval from Alberta Environment and Parks ("AEP") on its Westlock and Kirkwall facilities. The increased regulations for emissions and the upcoming carbon tax in 2023 is also impacting approvals for new mining operations. However, noise measurement and modelling for Westlock, for example, have shown that sound levels are under the maximum acceptable level and all dispersion modelling for emissions were positive.
Throughout this period, LINK has been working with existing and potential clients and partners to come back stronger and better than ever on the two sites. GSV Futures Inc., a subsidiary of North American cryptocurrency mining company, Mission World Group ("GSV") and a LINK partner, is awaiting regulatory approvals, and we are working with GSV to be ready for implementing the strategic co-mining agreement (see press release dated August 16, 2021). The TAAL Group announced that it has purchased a facility in eastern Canada, which will free up LINK's capacity for new clients in the future.
As LINK is an early entrant in the digital currency mining market in Alberta, the Company has accumulated know-how and expertise ahead of its competitors. Management believes this know-how will allow for accelerated growth while other new entrants are only starting to understand such issues as emissions standards, noise standards, and expectations of the AUC and AEP. Additionally, the purchase of Clean Carbon Equity (CCE) will further strengthen LINK's position in the market (see press release dated October 1, 2021).
CCE management is building its inventory of offset tools and plans to have a software version of an NFT ready for the market shortly. This is anticipated to generate revenue for CCE , allowing both rapid growth for the Company and a simple way for both retailers and wholesalers to buy, trade and retire carbon credits in a transparent and immutable manner.
Early in 2022, the Company expects to be operational in both Kirkwall and Westlock. Management notes that the Company has sufficient cash to tie over the Company while regulatory issues are settled. The Company will update shareholders as soon as practical on the progress and rulings. We thank shareholders for their continued support.
About Link Global Technologies Inc.
LINK is engaged in providing infrastructure and operating expertise for digital mining and data hosting 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 clean energy and infrastructure for other data-hosting services.
To learn more about Link's activities, visit us at https://linkglobal.io/.
On behalf of Link Global Technologies Inc.
Stephen Jenkins
Chief Executive Officer & Director
For more information, visit http://linkglobal.io/ or contact:
Steve Jenkins
stephen@linkglobal.io
+1-877-770-6545
For investor information, please contact:
Omar Diaz
Investor Relations Manager
omar@linkglobal.io
604-551-2950
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 include, but are not limited, to: the Company's progress with the AUC to ensure regulatory compliance on all Alberta sites; that LINK's management anticipates the regulatory process should be completed by the end of January 2022; that management is confident about the Company's potential in Alberta once the AUC regulatory process has been concluded; that LINK is awaiting final approval from Alberta Environment and Parks ("AEP") on its Westlock and Kirkwall facilities; that LINK is working with GSV to be ready for implementing the strategic co-mining agreement; that the TAAL Group announced that it has purchased a facility in eastern Canada, which will free up LINK's capacity for new clients in the future; that management believes this know-how will allow for accelerated growth; that CCE management is building its inventory of offset tools and plans to have a software version of an NFT ready for the market shortly, which is anticipated to generate revenue for CCE, allowing both rapid growth for the Company and a simple way for both retailers and wholesalers to buy, trade and retire carbon credits in a transparent and immutable manner; that early in 2022, the Company expects to be operational in both Kirkwall and Westlock; that the Company has sufficient cash to tie over the Company while regulatory issues are settled; that the Company will update shareholders as soon as practical on the progress and rulings; and other business plans of the Company.
All such forward-looking statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation: potential adverse rulings or determinations by the AUC and AEP; that commercial relationships will not produce the anticipated results; those set out in the Company's most recent MD&A, 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, reliance on key management personnel, the Company's ability to implement its business plan, litigation risk, stock price volatility, the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.
SOURCE: Link Global Technologies Inc.
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https://www.accesswire.com/677936/An-Update-from-the-CEO-of-Link-Global-Technologies
FAQ
What is the latest update from LINK Global Technologies Inc. regarding AUC compliance?
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