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Term Sheet signed with Mission World Group for delivery of power for 3000 latest generation Bitcoin miners
3-year term with an option for additional 3 years
Option for an additional 3000 miners in Q1/Q2 of 2022
270 Petahash in 2021 with optional 270 Petahash in 2022, for a total of 540 Petahash
Upon project completion, Link Global will have 880 Petahash under contract in 2021
Appointment of Operations Manager to oversee Alberta
VANCOUVER, BC / ACCESSWIRE / June 24, 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 the Company has entered into a strategic co-mining agreement (the 'Agreement') with North American cryptocurrency mining company Mission World Group and its subsidiary GSV Futures Inc. ('GSV') Pursuant to the terms of the Agreement, the Company will provide certain premises (the 'Premises') to GSV for the purpose of the operation of 3,000 Bitcoin mining units (the 'Miners') and the Company will also provide services to maintain the Premises for a term of three years. This is an arms length transaction between GSV and Link Global.
Under the terms of the Agreement, Link will provide the power and infrastructure for the operation of the Miners and will also provide management services necessary to maintain 95% uptime on the Miners. In consideration for these services, Link will provide a competitive rate for power and receive a profit share of mined coins. It is expected that the miners will be delivered and installed during the third and fourth quarters of this year.
Estimated Calendar Miner Delivery Dates
Q3/Q4 2021: 3,000 Miners
Q1/Q2 2022: Optional 3,000 Miners
Link President and Chief Executive Officer Stephen Jenkins commented, 'This is an exciting time for Link. We are very happy to have a quality private company join forces with us to co-develop and partner with us to operate this significant amount of machines. We look at this as another opportunity for Link to work with mining companies that are looking to rapidly increase their locations for processing blockchain solutions. '
Link Global has hired a 25-year project and completions Professional with a pedigree in the international energy sector. This position will support the compressed timelines of the projects and ensure timely execution on all facility deliverables, driving operational success on Links road to 100MW.
Investor Relations Engagement
The Company has engaged Scandinavian Alliance for investor relations and marketing services. Scandinavian Alliance has been engaged to heighten market and brand awareness for Link Global and to broaden the Company's reach within the investment community. Scandinavian Alliance has agreed to comply with all applicable securities laws and the policies of the Canadian Securities Exchange (the 'CSE') in providing the services.
The Company also announces it has granted 200,000 stock options to Scandinavian Alliance. The options are exercisable for a period of two years at a price of $0.53 per share , the closing price on June 18, 2021. The options are subject to the policies of the CSE.
About Mission World Group and subsidiary GSV futures Inc.
Mission World Group and subsidiary GSV futures Inc. offer a broad range of value-added services including ASIC mining, high-performance computing, hosting, and cloud services. The private company is considered one of the largest and most efficient service providers in data computing and storage.
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.
Chief Executive Officer & Director
For more information, visithttp://linkglobal.io/ or contact:
For investor information, please contact:
Investor Relations Manager
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. 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 actual use of proceeds of the Offering may differ materially from 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.
SOURCE: Link Global Technologies Inc.
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