Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Green Block Mining Corp. Capital/Financing Update 2021

Feb 4, 2021

47735_rns_2021-02-03_af070474-ba98-4632-b996-44522b5e8638.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

==> picture [58 x 41] intentionally omitted <==

==> picture [59 x 41] intentionally omitted <==

==> picture [58 x 41] intentionally omitted <==

==> picture [20 x 82] intentionally omitted <==

==> picture [6 x 82] intentionally omitted <==

==> picture [58 x 41] intentionally omitted <==

==> picture [59 x 41] intentionally omitted <==

==> picture [58 x 41] intentionally omitted <==

C SE: LNK | F R A: LGT | OT C : LGLOF

For Imme d iate Release

  • LINK GLOBAL TECHNOLOGIES SIGNS POWER AND ROYALTY MINING AGREEMENT FOR 50 PETAHASH TO BEGIN FEBRUARY 21[st] 2021.

  • LINK GLOBAL ANNOUNCES $640,000 NON-BROKERED PRIVATE PLACEMENT UNITS OFFERING

VANCOUVER, B C , CANAD A , FEBRU A RY 3, 20 2 1, LINK G LOBAL T E CHNOLO G IES INC. (C S E: LNK; F R A: LGT; O TC: LGLO F ) ("LINK" or the "Co m pany"), an i nnovative p ower and infr a structure so l utions prov i der for Bit c oin mining a nd data ho s ting operat i ons, is plea s ed to provide a n update o n its planne d bitcoin mi n ing operati o ns. As previously anno u nced on Ja n uary 4, 2021, the Compa n y is acqui r ing 2,600 b itcoin min e rs for self- m ining and royalty ear n ings. This is “ p hase one” o f that program.

A private, arms-len g th compan y has deliv e red over 5 0 Petahash or roughly .35 BTC/ d ay at today’s d ifficulty, t h rough a c o mbination o f ASICs m achines to begin mining at the L ink’s facilities in Alberta. The agree m ent include s a base rat e charge fo r power and a profit sh a re on the bitc o ins (BTC) mined. President and CEO Step h en Jenkins comments, “this agre e ment allows L I NK to gen e rate revenu e in two wa y s: a Power P urchase A g reement (P P A) and a r o yalty agreeme n t. Our arr a ngement is attractive f o r several r e asons: the immediacy of revenue with BTC ear n ings and t h e stable inc o me from t h e PPA. W h ile most co m panies tie u p large amounts of capit a l for up to seven mon t hs to acqui r e more ma c hines, LI N K's approa c h is differe n t by acquirin g a blend o f new and u s ed machin e s, allowing immediate cash flow a nd tieing u p less capital.

Under the agreement, LINK will manage the machines, and the private company will send a percentage of the net profit to LINK on a bi-weekly basis. This agreement takes effect on February 21[st] , 2021.

$640,000 Units Offering Private Placement

Link Global is also pleased to announce a non-brokered private placement of approximately 1,066,667 units (each, a “Unit”) at a price of $0.60 per Unit for gross proceeds of up to $640,000 (the “Offering”). Each Unit will consist of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to purchase one share at a price of $0.90 per share for a period of nineteen (19) months following the closing of the Offering.

The Company intends to use the proceeds from the Offering 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 contract to its clients, which include Bitcoin miners and data hosting operations.

  • Marketing and general working capital.

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after the closing of the Offering. Completion of the Offering is subject to the approval of the Canadian Securities Exchange (the “Exchange”). Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61101”) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The Company may pay finder’s fees in connection with the Offering in accordance with applicable laws.

The Company also announces that in connection with the closing of the financing (the “Financing”) previously announced on January 7, 2021, it has paid additional finder’s fees of $1,050 and issued 3,000 finder’s warrants, each of which entitles the holder to purchase one common share at a price of $0.50 for 18 months from the date of closing of the Financing. All securities issued in the Financing are subject to a four-month hold period expiring May 8, 2021.

None of the securities sold in connection with the Offering and 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 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 [email protected] +1-877-770-6545

For investor information, please contact: [email protected] +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: that the new agreement will allow LINK to generate revenue in two ways: a Power Purchase Agreement (PPA) and a royalty agreement; the perceived benefits of the new arrangement, including the immediacy of revenue with BTC earnings and the stable income from the PPA; the Offering, including the proposed uses of proceeds; and other matters relating to the business 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: that actual results from the new agreement may differ materially from the parties' expectations; that the Offering might not close on the terms announced or at all; that the actual uses of proceeds of the Offering may differ 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.