Link Global Technologies Signs 6 MW Power Purchase Agreements with Block One Technologies for their Digital Currency Mining Operations
(TheNewswire)
Vancouver, BC, Canada - TheNewswire - June 24, 2020 - Link Global Technologies Inc. (CSE:LNK) (CNSX:LNK.CN) (FRA:LGT) (OTC:LGLOF) (“LINK” or the “Company”), an innovative power and infrastructure solutions provider for digital mining and data hosting operations, is pleased to announce that its phase one development of power in Alberta is fully subscribed through agreements (the “Agreements”) with Block One Technologies (“Block One”). According to the terms of these Agreements, Link will provide Block One with 6 megawatts (MW) of electrical power for an initial term of one year, at an agreed upon rate calculated in Canadian dollars per kilowatt hour.
“We are very pleased to be working with an experienced, professional group such as Block One Technologies,” said Stephen Jenkins, President & CEO of Link. “This partnership allows Block One to access our existing power assets in order to conduct its digital mining operations more cost effectively, while also allowing us to expand our current business operations. While this is the first formal agreement between Block One and Link, the companies intend to pursue future agreements that will play an important role in Link’s growth strategy.”
Bijan Alizadeh, Founder & Chairman of Block One, commented: “By working with Link, Block One can take advantage of the competitive energy prices Link offers, while continuing to expand our digital currency mining operations. We have deep expertise in the digital mining space and partnering with Link on power supply makes a lot of sense for us and our clients.”
About Block One Technology Inc.
Block One Technology, Inc. is built upon our founders’ five years of experience establishing, optimizing, and developing efficient and secure turnkey crypto mining facilities in multiple jurisdictions for individuals and institutions.
By utilizing efficient energy supply, we control power usage, which increases profitability and ensures uninterrupted operations. As we expand by building our own gas power plant to produce energy on demand, we will further optimize our facilities, increasing our already large warehouse capacity, and guaranteeing 99.5% uptime.
About Link Global Technologies Inc.
Link is engaged in the business of providing infrastructure and operating expertise for digital mining 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 energy and infrastructure for other data-hosting services.
On behalf of Link Global Technologies Inc.
Robert Pirooz
Chairman
For more information visit http://linkglobal.io/ or contact:
Steve Jenkins
+1-877-770-6545
Investors please contact:
+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 relate to: that the partnership allows Block One to access Link’s existing power assets in order to conduct its digital mining operations more cost effectively, while also allowing Link to expand its current business operations; that the companies intend to pursue future agreements that will play an important role in Link’s growth strategy; that by working with Link, Block One can take advantage of the competitive energy prices Link offers, while continuing to expand its digital currency mining operations; and other matters relating to the Company’s business plans.
All such forward-looking statements are based on the reasonable beliefs, expectations and opinions of the relevant management as of the date such statements are made; and are subject to risks, uncertainties, assumptions and other factors that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation, 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, material adverse consequences of the COVID-19 pandemic; unanticipated changes in laws, regulations or other industry standards affecting the business of the Company; the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For a complete discussion with respect to the Company and the risks associated with forward-looking statements, please refer to the Company’s financial statements and related MD&A, as well as other documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission and that Alberta Securities Commission, which are filed on SEDAR at www.sedar.com.
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