Link Global Technologies Announces Letter of Intent with Starco Fuels for Joint Operations to Generate up to 40 Megawatts Electrical Power
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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Currency is in Canadian dollars unless specified otherwise
VANCOUVER, BC / ACCESSWIRE / January 28, 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 the signing of a letter of intent ("LOI") dated January 22, 2021 with Starco Fuels LLC ("Starco") for the supply of up to 40 megawatts (MW) of generators for Bitcoin mining operations in Canada and United States.
Under the terms of the LOI, Starco has agreed to be responsible for the acquisition, transport, and installation of generators with the capability of delivering 40 MW of electrical power. Link has agreed to be responsible for the gas supply and all other aspects of the transaction including without limitation: site preparation, delivery of and linkage to the gas supply, transmission lines, Bitcoin container connections, and operation and maintenance of the generators to OEM specifications, including all personnel.
Under the LOI, the parties have agreed to negotiate a definitive three party joint operating agreement with a third party gas supplier within ten days of the execution of the LOI, which would supersede the LOI in its entirety.
Starco Fuels LLC, established in 2012, is a privately owned company headquartered in Southeast Texas. Starco has a diverse team with over 80 years of combined experience in gas, entrepreneurship, management, legislation, and distribution industries. Starco is one of many successful businesses under the leadership of Mr. Tahir Javid. Mr. Javed is a business magnate, investor, and philanthropist. He has developed a vertically-integrated corporate enterprise across wholesale retail, healthcare services, real estate, and agriculture sectors that today employs thousands of people across the globe.
With the addition of Starco, Link will have the following operations in Alberta and overall power generating capacity:
- 3.75 MW - Eastern Alberta site
- 5 MW - Western Alberta site 1
- 10 MW - Western Alberta site 2
- 40 MW Starco sites
Link President and Chief Executive Officer Stephen Jenkins commented, "We are pleased to announce the creation of, what is sure to be, a ground-breaking relationship. The plans with Starco are exactly what we have envisioned within our pathway to success including the expansion of assets in the United States and already disclosed international opportunities. Mr. Javed, Starco's charismatic President, and CEO, will add a new level of opportunities and value to our company and shareholders."
Mr, Tahir Javed has also enthusiastically stated, "We are excited to venture into this cross-border relationship with Mr. Jenkins and Link Global. The synergies between the two companies promise to be mutually beneficial while addressing much needed environmental solutions with regards to abandoned and dormant natural gas sites."
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.
Chief Executive Officer
Investors, please contact:
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:
the Company's intention to negotiate a definitive three party joint operating agreement with a third party gas supplier within ten days of the execution of the LOI on the proposed terms outlined in this news release; the Company's operations upon entry into a definitive agreement in respect of the transactions contemplated in this news release; the perceived benefits of the prospective relationship between the Company and Starco, including the expansion of assets in the United States and already disclosed international opportunities and that Starco's CEO and President will add a new level of opportunities and value to the Company and its shareholders; 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: the inability of the parties to enter into a definitive three party joint operating agreement with a third party gas supplier at all or on the terms announced, 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, plans related to the Company's business and potential customer base, the securing of economic rates for the purchase of power, the opportunities for acquiring digital currency mining hardware, 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.
SOURCE: Link Global Technologies Inc.
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