Link Global Technologies Signs A Letter of Intent to Acquire Clean Carbon Equity

Rhea-AI Summary

Link Global Technologies has signed a letter of intent to acquire Clean Carbon Equity for approximately CAD $1.4 million, to be paid in shares at a value of CAD $0.80 each. This acquisition aims to enhance Link's commitment to carbon neutrality, particularly in the crypto mining sector. Clean Carbon Equity specializes in providing verified carbon credits and contributes to Link’s operational revenue. The deal reflects a strategic alignment toward reducing emissions in various industries, particularly in line with the Crypto Climate Accord’s goals for 2030.

Positive

• Acquisition valued at CAD $1.4 million, enhancing revenue potential.
• Strengthens commitment to carbon neutrality, aligning with industry sustainability goals.
• Clean Carbon Equity is operational and profitable, contributing immediately to Link's financials.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 30, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT; OTC: LGLOF) ('LINK' or the 'Company'), an innovative power and infrastructure solutions provider for Bitcoin mining, and data hosting operations, is pleased to announce the signing of a letter of intent ('LOI') to acquire Clean Carbon Equity ('CCE').

Clean Carbon Equity is a private company that provides certified and verified carbon credits to the marketplace. CCE began with a focus on the transportation industry and has expanded into providing carbon credits to many other industries. The applicability to crypto mining is obvious, and the potential for expansion into other industries is endless.

This transaction is valued at approximately CAD $1.4 million, payable in shares of the Company at a deemed value of CAD $0.80 per share, and subject to an escrow period between 15-19 months. The final terms and conditions of the transaction are subject to definitive documentation.

Stephen Jenkins, Chief Executive Officer of Link, comments, 'The acquisition of Clean Carbon Equity is a perfect complement to our business, showing Link's commitment to carbon neutrality. CCE is not only a Carbon offset/credit company but also a technology company specializing in plug-and-play systems, making the process effortless for clients. As well as sharing an environmental likemindedness, one of the biggest caveats is that CCE is an operating, successful business, instantly contributing to Link's top and bottom line. As a fellow member of the Crypto Climate Accord, CCE is leading the way in bringing the crypto mining industry closer to its goal of carbon neutrality by 2030.'

Jenkins goes on to say, 'Chad Clovis, the CEO and founder of CCE, is a practical yet visionary individual. Having spent a good part of his career as an entrepreneur in the trucking industry, Chad has a high level of experience providing solutions for those in multiple industries requiring or desiring to offset emissions. It is clearly evident that there are synergetic connections between Link and CCE. We share a common goal - to reduce emissions wherever possible and offset where necessary.'

About Clean Carbon Equities

Clean Carbon Equity Inc (CCE) is one of Canada's leading traders of Verified Emission Reduction Credits in the voluntary carbon offset market. CCE sources Verified Emission Reduction credits from our global supplier base, selling them to customers in order to offset the CO2 emissions being created by the customer's operations and manages the retirement of the offsets appropriately. CCE provides customers with value by providing customized transaction options, tailored insights, and scalable access into the Verified Emissions Reduction markets. Through these trading activities, CCE supports clean energy projects around the world, assists customers with reducing their Greenhouse Gas footprint and provides a resource to assist in reducing emissions to support Canada's plan of Net Zero emissions by 2050.

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: statements with respect to the Facility and the terms and potential benefits thereof;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:; 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/657801/Link-Global-Technologies-Signs-A-Letter-of-Intent-to-Acquire-Clean-Carbon-Equity

FAQ

What is the purpose of Link Global Technologies' acquisition of Clean Carbon Equity?

The acquisition aims to enhance Link's commitment to carbon neutrality and solidify its position in the carbon credits market, particularly for crypto mining.

What is the value of the acquisition deal between Link Global Technologies and Clean Carbon Equity?

The acquisition deal is valued at approximately CAD $1.4 million, payable in shares at CAD $0.80 per share.

How does the acquisition of Clean Carbon Equity impact Link Global Technologies' financials?

Clean Carbon Equity is an operational and successful business, which will contribute positively to Link's top and bottom line immediately after the acquisition.

What are the expected benefits of Clean Carbon Equity's expertise for Link Global Technologies?

CCE brings expertise in providing verified carbon credits, which will help Link expand its offerings and align with sustainability goals in various industries.

When was the letter of intent for the acquisition signed?

The letter of intent was signed on July 30, 2021.