LGLOF - Link Global Technologies Commissions 8.75 MW of Generating Power and Two Mobile Data Centers Resulting in Revenues in Excess of CAD $1 Million (Unaudited)
(TheNewswire)
Vancouver, BC, Canada - TheNewswire - October 16 , 2020, Link Global Technologies Inc.(CSE:LNK) (CNSX:LNK) (FRA:LGT) (OTC:LGLOF )(" LINK " or the " Company ") an innovative power andinfrastructure solutions provider for digital mining and data hostingoperations, is pleased to announce the successful commissioning of theCompany's latest semi-mobile data centers in Alberta. As a result,Link has generated over CAD $1 million (unaudited) in revenues sinceJune 2020.
Stephen Jenkins, CEO of Link, states: "Our teamhas been working tirelessly to commission and optimize the sites. Weare appreciative of the support and effort from everyone helping,including the principals from Block One Technologies Inc., and theirteam. Commissioning sites is a complicated process including theconstruction of new infrastructure and the entire operation cast atLink and Block One has collectively made this happen. Our immediatenext steps are to optimize and winterize the sites to maximizerevenues and continue to lower operational costs as we focus onexpanding our power generation capacity."
Operational highlights of the last four months:
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- Successful commissioning DataCenters - As previously announced on June 24, 2020 , Link setout to commission and provide 6 MW of power generation to Block OneTechnologies. To-date, the Company has commissioned 8.5 MW of powergeneration over two sites in Alberta (3.75MW in eastern Alberta and 5MW at a secondary site in western Alberta). The Company is on track tosecure and provide up to 50 MW of electricity to supply thecryptocurrency mining community.
- Completed acquisition of a 25%stake in jointly owned petroleum and natural gasrights and assets in eastern Alberta for a total of $600,000, whichhedges against higher commodity prices and provides Link with anothersource of income.
- Completed CAD $1M strategicfinancing from Block One Technologies with theproceeds being used for the development of capital infrastructure formobile data centers.
- Lowered power rates by repositioning existing infrastructure from the USA and BCto Alberta with more favorable industry terms.
About Link Global TechnologiesInc.
Link is engaged in the business of providinginfrastructure and operating expertise for digital mining operations.Link's objectives include locating and securing, for lease and optionto purchase, properties with access to low-cost reliable power, anddeploying this low-cost power to conduct digital mining and supplyenergy 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/ orcontact:
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 doesnot accept responsibility for the adequacy or accuracy of thisrelease.
CAUTIONARY STATEMENT REGARDINGFORWARD-LOOKING INFORMATION. This news releasecontains "forward-looking statements" within the meaning ofapplicable Canadian securities legislation. Forward-looking statementsconsist of statements that are not purely historical and include anystatements regarding beliefs, plans, expectations or intentionsregarding the future. Often, but not always, forward-lookingstatements 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, orstatements that certain actions, events or results "may","would", "could", "should" or"might" occur. Forward-looking statements made in this newsrelease include, but are not limited, to: statements with respect to the Company's immediate next steps to optimizeand winterize the sites to maximize revenues and continue to loweroperational costs as the Company focuses on expanding its powergeneration capacity . All such forward-lookingstatements are based on factors or assumptions that were applied indrawing a conclusion or making a forecast or projection, includingassumptions based on historical trends, current conditions andexpected future developments. Since forward-looking statements relateto future events and conditions, by their very nature they requiremaking assumptions and involve inherent risks and uncertainties. TheCompany cautions that although it is believed that the assumptions arereasonable in the circumstances, these risks and uncertainties giverise to the possibility that actual results may differ materially fromthe expectations set out in the forward-looking statements. In thecase of the Company, these risks, uncertainties, assumptions and otherfactors include, without limitation: those set out in the Company'smost recent MD&A, fluctuations in the price of electricity,fluctuations in the price of digital currencies/Bitcoin, the futurepotential halving of Bitcoin, increases in the network difficulty rateand price of digital currencies/Bitcoin, negative changes in the levelof digital currency/Bitcoin rewards per block, the securing ofeconomic rates for the purchase of power, the opportunities foracquiring digital currency mining hardware, unanticipated changes inlaws, regulations or other industry standards affecting the businessof the Company, reliance on key management personnel, the Company'sability to implement its business plan, litigation risk, stock pricevolatility, the effects of general economic and other factors beyondthe control of the Company, and other matters that may occur in thefuture. Given these risks, undue reliance should not be placed onthese forward-looking statements, which apply only as of the datehereof. Other than as specifically required by law, the Companyundertakes no obligation to update any forward-looking statements toreflect new information, subsequent or otherwise.
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