Link Global Creates Special Regulatory, Compliance and Advisory Committee To Oversee the Next Phase of Proceedings With the Alberta Utilities Commission

Rhea-AI Summary

Link Global Technologies Inc. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) has formed a special regulatory compliance and advisory committee to oversee its submission in the Alberta Utilities Commission (AUC) proceedings. The Company will respond to AUC Enforcement Staff's previous submission and provide evidence regarding its hosting operations at the Campbell and Kirkwall power plants. The Company acknowledges unawareness of regulatory requirements upon starting operations but commits to ensuring full compliance moving forward. Shareholders will receive updates on the AUC proceedings as they occur.

Positive

• Formation of a regulatory compliance committee to address AUC proceedings.
• Commitment to providing evidence of operations at Campbell and Kirkwall.

Negative

• Previous unawareness of regulatory requirements could indicate operational oversight.

VANCOUVER, BC / ACCESSWIRE / October 5, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) ("LINK" or the "Company"), is pleased to announce that it has created a special regulatory compliance and advisory committee (the "Committee") comprised of two independent directors of the Company to oversee the Company's submission in the second phase of the proceedings before the Alberta Utilities Commission (the "Commission" or "AUC").

The Company will be responding to the AUC Enforcement Staff's submission dated September 24, 2021, by providing evidence of its hosting operations at the two power plants at Campbell (Sturgeon County) and Kirkwall. The Company mines digital currency through revenue share models and provides infrastructure services, including power, to third-party clients' operations. The Company's business model will be clearly explained to assist the Commission in making its determinations.

The Company has acknowledged being unaware of the statutory and regulatory requirements for generating electricity in Alberta when it commenced operations at Campbell and Kirkwall and will continue to work with the Commission to ensure full compliance with the regulatory and compliance processes of the AUC on a go-forward basis.

The Company will update shareholders as soon as practical on the progress of this phase of the AUC proceeding and the rulings from the Commission. We thank shareholders for your 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: that the Company will be responding to the AUC accordingly and will provide evidence of its hosting operations at the two power plants in Campbell and Kirkwall; and that the Company will update shareholders as soon as practical on the progress and rulings. 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:; 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.

View source version on accesswire.com:
https://www.accesswire.com/666774/Link-Global-Creates-Special-Regulatory-Compliance-and-Advisory-Committee-To-Oversee-the-Next-Phase-of-Proceedings-With-the-Alberta-Utilities-Commission

FAQ

What is the recent news regarding Link Global Technologies Inc. (LGLOF)?

Link Global Technologies has created a special regulatory compliance committee to oversee its submission in the Alberta Utilities Commission proceedings.

How is Link Global responding to the Alberta Utilities Commission's submission?

The Company will provide evidence of its operations at the Campbell and Kirkwall power plants as part of its response.

What challenges did Link Global Technologies face regarding compliance?

The Company admitted to being unaware of regulatory requirements for generating electricity in Alberta when it started operations.

Will Link Global Technologies update investors about the AUC proceedings?

Yes, the Company will update shareholders as soon as practical on the progress and outcomes of the AUC proceedings.