Link Global Technologies Announces Closing CAD $1,314,798 Oversubscribed Non-Brokered Private Placement Units Offering

Rhea-AI Summary

Link Global Technologies has successfully closed a non-brokered private placement, issuing 2,191,329 units at CAD $0.60 each, raising a total of CAD $1,314,798. Each unit consists of one common share and one-half of a warrant, allowing purchase of additional shares at CAD $0.90 for 19 months. The funds will support the commissioning of new 10 MW power sites in Alberta, generating an expected USD $350,000 monthly revenue. Additionally, the company has extinguished $12,600 of debt via the issuance of 21,000 units and plans to commence Bitcoin mining on February 21, 2021.

Positive

• Raised CAD $1,314,798 from private placement.
• Plans to generate an additional USD $350,000 in monthly revenue from new power sites.
• Extinguished $12,600 debt improving financial position.
• Commencing Bitcoin mining operations on February 21, 2021.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / February 17, 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 the closing of its non-brokered private placement (the "Financing") previously announced onFebruary 10, 2021, by issuing 2,191,329 units (each, a "Unit") at a price of CAD $0.60 per Unit for the total gross proceeds of CAD $1,314,798. Each Unit consists of one common share of the Company (each, a "Share") and one-half of one transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional Share at a price of CAD $0.90 per Share for a period of 19 months from the date of closing of the Financing. The Company also announces it has extinguished debt in the amount of $12,600 owed by the company to arms' length third party vendors, in exchange for the issuance of 21,000 Units.

The Company paid finders' fees of CAD $49,056 and issued 81,760 finders' warrants, each of which entitles the holder to purchase one Share at a price of CAD $0.90 for 19 months from the date of closing of the Financing. All securities issued in the Financing are subject to a four-month hold period expiring June 18, 2021.

Link intends to use the net proceeds from the Financing for:

• The commissioning of new 10 Megawatt (MW) power sites in Alberta. Link is generating power from dormant and stranded natural gas assets, and supplying this power via fixed-price contracts to its clients, which include Bitcoin miners and data hosting operations. This site will generate an additional revenue of USD $350,000 per month for Link, as previously announced in a press release dated January 4, 2021.
• Marketing and general working capital purposes.

Link President and Chief Executive Officer Stephen Jenkins commented, "We are very pleased with the level of interest in Link's latest financing, and we appreciate the support from our new and existing shareholders. We are executing on our business plan as previously outlined in March 2020, and have since secured over 20 Megawatts (MW) of power-generating assets, of which 8.75 MW has been in operation since 2020, generating revenues in excess of USD $1.5 million (unaudited) for the Company. Along with hosting of machines we begin to mobilize our own fleet of mining machines to self-mine for Bitcoin, with the added advantage of leveraging our growing supply of low-cost, reliable power, generated from dormant and stranded natural gas assets. Link has substantial experience in operating crypto mining machines and the Company looks forward to commencing its Bitcoin mining operations on February 21, 2021."

None of the securities acquired in connection with the Financing will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Link Global Technologies Inc.

Link is engaged in the business of 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

Investors 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: the intended use of the net proceeds from the Financing; that the Company's new site will generate an additional revenue of USD $350,000 per month for Link; that the Company is in a position to mobilize its own fleet of crypto mining machines to self-mine for Bitcoin, with the added advantage of leveraging its growing supply of low-cost, reliable power, generated from dormant and stranded natural gas assets; and that the Company looks forward to commencing its Bitcoin mining operations in the near future.

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 Company may use the net proceeds from the Financing for uses other than those set out in this news release; 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.

This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about Link's prospective results of operations, including revenue, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this news release was made as of the date of this news release and was provided for the purpose of providing further information about Link's future business operations. The Company disclaims any intention or obligation to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, except as required by securities law. Investors are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.

SOURCE: Link Global Technologies Inc.

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FAQ

What is the total amount raised by Link Global Technologies in their recent private placement?

Link Global Technologies raised a total of CAD $1,314,798 in their recent private placement.

What are the expected new revenue gains for Link Global Technologies?

Link Global Technologies expects to generate an additional USD $350,000 in monthly revenue from new power sites.

When does Link Global Technologies plan to start their Bitcoin mining operations?

Link Global Technologies plans to commence Bitcoin mining operations on February 21, 2021.

What is the purpose of the proceeds from Link Global Technologies' private placement?

The proceeds will be used for commissioning new power sites, marketing, and general working capital purposes.

What kind of units were issued by Link Global Technologies in their private placement?

Link Global Technologies issued units that consist of one common share and one-half of a transferable warrant.