Link Global Technologies Announces Definitive Agreement to Acquire Clean Carbon Equity, Setting the Path Towards Carbon Neutrality
October 1, 2021 (Source) — LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FSE:LGT)(OTC PINK:LGLOF) (“LINK” or the “Company”), an innovative power and infrastructure solutions provider for data hosting operations and the digital economy, is pleased to announce that the final agreements have been signed to acquire Clean Carbon Equity (“CCE”) (LOI -July 30, 2021) an arm’s length private company existing under the laws of British Columbia (the “Acquisition”).
The closing of the Acquisition (the “Closing”) will position LINK as a global ESG leader in the data and digital economy sector, and projects to increase cash flow and create new long-term revenue opportunities for the Company. With the Acquisition, LINK has also operationalized its plans to become carbon neutral by 2026, well ahead of the 2030 timeline established by the Crypto Climate Accord.
THE COMMITMENT TO CARBON-NEUTRAL MINING THROUGH CLEAN CARBON EQUITIES IS QUANTIFIABLE AND VERIFIABLE
“The significance of this acquisition can’t be overstated,” said Stephen Jenkins, Chief Executive Officer of Link. With mandatory offsets slated for $65.0/tonne in 2023, businesses will be in need of offset solutions. CCE is already in the business and has cash flow from the outset. However, if companies are not proactive, the cost of producing a megawatt of power unmitigated will rise significantly depending on the generation source. CCE will offer a solution.”
“CCE will continue to exist as a separate, wholly-owned subsidiary of LINK, allowing CCE to encourage and assist other crypto-related companies in achieving their commitments to carbon neutrality. CCE operates a user-friendly system that allows Carbon Credits/Offsets to be calculated and traded, ensuring verification and retirement as deemed necessary. Our first order of business will be to make Link Global carbon neutral.”
“We first started this company because of the needs of my transportation company,” added Chad Clovis, CEO of Clean Carbon Equity. “I was trying to buy carbon offsets and was surprised by the degree of difficulty I was finding. We saw the need for a better system – so we created it. We are very excited about the opportunity of joining forces with Link Global. Over the past four (4) months alone, CCE has offset 10,000 tonnes of CO2 with Verified Emission Reduction Credits and with a number of larger value projects expected to close in the next two quarters, the company is expecting considerable growth. CCE plans to launch a carbon offset calculator and digital currency payment system for offsetters, and the company believes these initiatives will be important growth drivers within the digital currency sector.”
Link has agreed to acquire CCE for $1,200,000 CAD through the issuance to the shareholders of CCE of common shares of Link valued at $.80 per share for a total of 1,750,000 shares and 875,000 warrants to purchase common shares of Link, with each warrant exercisable at $1.12 per share for 24 months following the date of issuance. Completion of the Acquisition remains subject to, among other things: receipt of all necessary approvals; and other conditions which are customary for transactions of this nature.
All LINK securities to be issued in the Acquisition will be issued pursuant to an exemption from applicable securities laws with a voluntary escrow period. There will be no finder’s fees paid in connection with the Acquisition.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Act”), or any state securities laws and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.
Carbon Offset Information
Carbon offsets are measured in metric tons of carbon dioxide-equivalent (CO2e) and may represent six primary categories of greenhouse gases: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), perfluorocarbons (PFCs), hydrofluorocarbons (HFCs), and sulphur hexafluoride (SF6). One carbon offset represents the reduction of one metric ton of carbon dioxide or its equivalent in other greenhouse gases.
The Voluntary Carbon Offsets market size is projected to reach USD 514.7 million by 2027, from USD 247.9 million in 2020, at a CAGR of 11.0% during 2021-2027. This growth allows for Voluntary Carbon Offset marketing companies such as Clean Carbon Equity to experience tremendous growth and profitability while supporting the global clean energy transition.
About Clean Carbon Equities
Clean Carbon Equity Inc (CCE) is one of Canada’s leading traders of Verified Emission Reduction Credits in the voluntary carbon offset market. CCE sources Verified Emission Reduction credits from our global supplier base, selling them to customers in order to offset the CO2 emissions being created by the customer’s operations and manages the retirement of the offsets appropriately. CCE provides customers with value by providing customized transaction options, tailored insights, and scalable access into the Verified Emissions Reduction markets. Through these trading activities, CCE supports clean energy projects around the world, assists customers with reducing their Greenhouse Gas footprint and provides a resource to assist in reducing emissions to support Canada’s plan of Net Zero emissions by 2050.
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.
To learn more about Link’s activities, visit us at https://linkglobal.io/
On behalf of Link Global Technologies Inc.
Chief Executive Officer & Director
For more information, visit http://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. Forward-looking statements made in this news release include, but are not limited, to: statements with respect to the Acquisition of CCE and the potential benefits and timing thereof; the Closing of the Acquisition; the consideration payable in respect of the Acquisition; the business of LINK following the Closing of the Acquisition; and other business plans of the Company and CCE following the Closing of the Acquisition. 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 the parties may not be able to satisfy the conditions to Closing of the Acquisition; 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.
This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about LINK’s expected increase in assets, cash flow and revenue opportunities on a post-Closing basis, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraphs. The actual financial results of LINK on a post-Closing basis may vary from the amounts set out herein and such variation may be material. LINK and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, LINK undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about LINK’s anticipated future business operations on a post-closing basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.
SOURCE: Link Global Technologies Inc.
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