VANCOUVER, BC, Jan. 27, 2021 /PRNewswire/ – LiteLink Technologies Inc. (“LiteLink” or “the Firm”) (CSE: LLT) (OTC: LLNKF) (FRA: C0B:FF), an organization targeted in rising applied sciences throughout progress sectors together with: crypto, blockchain, AI and cloud applied sciences. LiteLink is happy to announce that it has signed a Letter of Intent (the “LOI”) to finish an fairness funding in CatalX Alternate Inc. (“CatalX”), Canada’s premier cryptocurrency alternate with over 40+ Altcoins accessible for buy on CatalX.io.
CatalX is a Canadian-based FINTRAC registered and compliant digital asset alternate platform that makes a speciality of cryptocurrency buying and selling, blockchain and cybersecurity expertise. CatalX has developed a scalable and modularized platform with a buying and selling engine that may scale to thousands and thousands of customers in actual time and cutting-edge cyber safety system CyberSmoat®, which is patent pending.
Options of the CatalX platform embrace:
- Totally featured alternate order e-book
- $0 deposit charges and instant funding (post-KYC)
- 0.15% buying and selling charges
- Tightest purchase and promote spreads in Canada beneath 0.1%
- Lowest charges to purchase BTC in Canada
The proposed fairness funding will likely be glad via the issuance of 37,500,000 frequent shares of LiteLink to CatalX and a money fee to CatalX of C$500,000, and would lead to LiteLink having possession and management over 19% of the excellent share capital of CatalX. At the side of closing of the funding, LiteLink may also pay a finder’s price to an arm’s size social gathering of 1,875,000 frequent shares of LiteLink. All securities issued in reference to the funding in CatalX will likely be topic to a four-month-and-one-day statutory maintain interval in accordance with relevant securities regulation.
“We’re very excited to make this funding into CatalX, Canada’s main cryptocurrency alternate, and gaining a stake within the increasing cryptocurrency market,” stated LiteLink CEO Peter Inexperienced. “CatalX has had an impressive 12 months and continues to develop. In January 2021 alone, the corporate skilled 80% progress in new registrations quarter-over-quarter and has already clocked in $1.05 million in deposits within the first 21 days of January.
“Within the final 5 days, CatalX has seen $525,000 in deposits, signaling large issues to come back transferring ahead as increasingly companies and traders flip their consideration in the direction of the crypto market.”
“CatalX has additionally skilled important progress in its buying and selling volumes, with common month-to-month quantity hitting $1.37 million in December 2020. Within the first 3.5 weeks of January, the buying and selling quantity was sitting at $2.85 million and is projected to achieve $5 million for January, a 590% enhance from its October/November common of $725,000. Within the final 5 days alone, the buying and selling quantity was $1.36 million. In brief, this firm is rising in a short time.
“It is not shocking while you have a look at the expansion of the general market. Bitcoin simply closed out one of many greatest years in its historical past and is anticipated to proceed rallying in 2021 because of a surge of recent developments coming into the crypto area this 12 months, together with the launch of Facebook’s bitcoin-inspired cryptocurrency and the US cryptocurrency regulations.
“Regardless of current worth volatility, Bitcoin continues to be up over 290% within the final 12 months and is anticipated to remain elevated because of rising adoption of crypto amongst fee giants like PayPal and Sq. and rising curiosity amongst institutional traders.
“On the identical time, the world’s second-largest cryptocurrency Ethereum has skyrocketed 300% over the last 12 months amid a flurry of curiosity in decentralized finance (DeFi)—utilizing crypto expertise to recreate conventional monetary devices equivalent to loans and insurance coverage with many DeFi initiatives constructed on prime of the Ethereum community.
“Cryptocurrency is clearly right here to remain, so we’re very enthusiastic about constructing a robust relationship with Canada’s main cryptocurrency alternate.”
The Firm is at arms-length from CatalX. Completion of the funding in CatalX is topic to quite a few situations, together with, however not restricted to, completion of due diligence, negotiation of definitive documentation and the receipt of any required regulatory approvals. The proposed funding isn’t anticipated to represent a basic change for the Firm, neither is it anticipated to lead to a change of management of the Firm, inside the that means of relevant securities legal guidelines and the insurance policies of the Canadian Securities Alternate.
LiteLink would additionally wish to announce that it has engaged North Equities to supply and handle a complete six-month digital media advertising and marketing marketing campaign for the Firm for a complete value of $100,000. The Firm has additionally engaged Djordje Kovic for a digital media and advertising and marketing marketing campaign for 4 months for a complete value of $45,000.
About LiteLink Applied sciences Inc.
LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) (FRA: C0B:FF) is an organization targeted on rising applied sciences throughout progress sectors together with: crypto, blockchain, AI and cloud applied sciences. Led by senior leaders and trade specialists, LiteLink invests in and supplies subject material specialists inside portfolio firms to speed up success and maximize worth for shareholders.
About CatalX Alternate
CatalX.io is a Canadian-based is a digital asset alternate platform that makes a speciality of cryptocurrency buying and selling, blockchain and cybersecurity expertise. As a totally regulated Cryptocurrency alternate with FINTRAC, CatalX has the best requirements in safety and compliance and is partnered with world-trusted names in Blockchain applied sciences, threat administration and monetary options together with Bittrex, Prime Belief, Trulioo and Stably to supply their customers with a trusted, safe platform.
This information launch could comprise sure “Ahead-Trying Statements” inside the that means of the USA Personal Securities Litigation Reform Act of 1995 and relevant Canadian securities legal guidelines. When or if used on this information launch, the phrases “anticipate”, “imagine”, “estimate”, “count on”, “goal, “plan”, “forecast”, “could”, “schedule” and related phrases or expressions establish forward-looking statements or data. Such statements symbolize the Firm’s present views with respect to future occasions and are essentially primarily based upon quite a few assumptions and estimates that, whereas thought of affordable by the Firm, are inherently topic to important enterprise, financial, aggressive, political and social dangers, contingencies and uncertainties. Many elements, each recognized and unknown, may trigger outcomes, efficiency or achievements to be materially totally different from the outcomes, efficiency or achievements which are or could also be expressed or implied by such forward-looking statements. The Firm doesn’t intend, and doesn’t assume any obligation, to replace these forward-looking statements or data to replicate adjustments in assumptions or adjustments in circumstances or every other occasions affecting such statements and knowledge apart from as required by relevant legal guidelines, guidelines and rules.
SOURCE LiteLink Applied sciences Inc.
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