Definitive Agreement to Acquire Clean Carbon Equity VANCOUVER, BC / ACCESSWIRE / October 1, 2021 / 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."
The Acquisition
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.
To learn more about Link's activities, visit us at https://linkglobal.io/
https://www.accesswire.com/666512/Link-Global-Technologies-Announces-Definitive-Agreement-to-Acquire-Clean-Carbon-Equity-Setting-the-Path-Towards-Carbon-Neutrality