Link Global Signs Binding LOI for Electrical Cost Reducing Technology IP Servicing the Bitcoin Mining

Rhea-AI Summary

Link Global Technologies has signed a binding letter of intent to acquire majority ownership of an innovative power delivery system intellectual property aimed at reducing energy costs in Bitcoin mining. The technology, currently in beta testing, has demonstrated energy savings of over 25%. Link intends to implement this technology in its operations and control the intellectual property moving forward. The deal is expected to be finalized by March 31, 2021, with Link exploring further licensing opportunities.

Positive

• Link can earn up to 85% of the technology, increasing its market position.
• Projected energy savings of over 25% could lead to multi-million dollar savings.
• Technology can be retrofitted and applied to various operations, enhancing operational efficiency.
• Control over intellectual property allows for future licensing opportunities.

Negative

• Finalization of the partnership agreement is still pending until March 31, 2021.
• Dependence on the successful implementation of the new technology for anticipated cost savings.

VANCOUVER, BC / ACCESSWIRE / February 25, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) ("LINK" or the "Company"), an innovative power and infrastructure solutions provider for Bitcoin mining and data hosting operations, is pleased to announce that it has signed a binding letter of intent ("LOI"), with arms' length third party, to acquire majority ownership of an innovative power delivery system intellectual property. LINK has been beta testing this technology over the past two years and early indications have shown energy savings of over 25%. Link is satisfied with the commercialization results and is prepared to start implementation throughout its operations.

Under the terms of the LOI signed February 22, 2020:

1. LINK GLOBAL can earn up to 85% of the aforementioned private company.
2. LINK GLOBAL will provide stock and cash to the aforementioned private company relative to the efficacy of the technology. Valuation and details of the transaction will be disclosed on closing.

Key Advantages:

• LINK can apply the technology to new equipment and installations as well as retrofit existing operations.
• LINK has the ability to apply this power-saving solution to other energy applications.
• LINK will control the IP moving forward.
• LINK has the option to license the technology in the future.

LINK President and Chief Executive Officer Stephen Jenkins commented, "After more than 20 years in the clean energy space, my passion has always been exploring innovative solutions. This technology is all about improving efficiency, using less for bigger gains thus incorporating the best aspects of social responsibility and corporate profitability. The excessive power needs for bitcoin mining, demands we look at better ways to operate our systems. This innovative technology, once proven, will give LINK a distinct advantage moving forward. Early beta testing has shown savings of over 25%. These savings are potentially in the multi-millions of dollars with the application, not only in traditional bitcoin mining, but also immersion technology and all data centers in general." Jenkins goes on to say, "The bitcoin mining space is still relatively new where the emphasis has been concentrated on the computing power of the machines. We are now at the time to rethink and improve our power delivery systems."

Link and the Private company are finalizing terms and conditions and will have the partnership agreement completed by March 31, 2021.

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.

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:

info@linkglobal.io
+1-833-707-8708

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: statements with respect to the Agreement and the terms and potential benefits thereof; that the parties will enter into the definitive partnership agreement and the terms thereof, including the timeline for same; that Link's significant expertise in international projects and government relationships will assist the development of these projects; and that the initiatives are slated to begin implementation in fiscal Q1 2021. 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: that the parties may not enter into a definitive partnership agreement at all or on the terms announced; that actual results from the partnership may differ materially from the parties' expectations; 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/631814/Link-Global-Signs-Binding-LOI-for-Electrical-Cost-Reducing-Technology-IP-Servicing-the-Bitcoin-Mining

FAQ

What technology did Link Global Technologies acquire?

Link Global Technologies signed a LOI to acquire a power delivery system intellectual property aimed at reducing Bitcoin mining costs.

What are the projected savings from the new technology?

The new technology has demonstrated energy savings of over 25% during beta testing.

When is the partnership agreement expected to be finalized?

The partnership agreement is expected to be completed by March 31, 2021.

How much ownership can Link Global Technologies acquire?

Link can earn up to 85% ownership of the private company related to the technology.

What impact does this acquisition have on Link Global Technologies?

The acquisition could provide Link with a competitive advantage and significant cost savings in Bitcoin mining.