VANCOUVER, BC / ACCESSWIRE / August 3, 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 provide a corporate update on recent activity.
$18 MILLION EQUITY FACILITY WITH ALUMINA PARTNERS
The Company announces the signing of a definitive agreement with Alumina Partners (Ontario) Ltd. ('Alumina') for a commitment to purchase up to $18,000,000 of common stock of the Company (the 'Facility'), in a series of private placements offerings (the 'Offerings').
Under the proposed terms of the Facility, Link Global, at its discretion, may elect to drawdown in $1,000,000 increments of the Facility as a new Offering. The terms of each Offering will be determined subject to market conditions at the time of the drawdown. There are no penalties for not drawing on the Facility and no upfront fees or interest associated with the use of this Facility.
The Facility's sole purpose is to allow Link to continue its growth strategy with complete financial flexibility and freedom. At the discretion of Link, the Facility enables the accessing of funds when necessary to meet capital infrastructure demands while protecting shareholder value.
Stephen Jenkins, Chief Executive Officer of Link, comments, 'We have been busy with the acquisition of quality sites and quality customers. The flexibility of this financing mechanism allows us only to draw down as necessary, minimizing dilution. Building infrastructure is always a sound investment, and the sites we are developing offer great opportunities but require capital partners to achieve successful build-out. We are grateful to Alumina for this financing option.'
'We are excited to support Link Global as they move to aggressively expand their footprint in high-demand managed crypto mining infrastructure,' said Adi Nahmani, Managing Member of Alumina Partners. 'This year has shown everyone in the space that power infrastructure matters both qualitatively and quantitatively as a key differentiator in ways beyond just raw cost per kilowatt-hour. As a result, we are confident in Link management's roadmap in the future. As the field continues to evolve rapidly, we look forward to investing in the growth potential of managed infrastructure in the crypto space.'