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 development 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 Trade Inc. (“CatalX”), Canada’s premier cryptocurrency alternate with over 40+ Altcoins obtainable 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 tens of millions of customers in actual time and cutting-edge cyber safety system CyberSmoat®, which is patent pending.
Options of the CatalX platform embody:
- Absolutely featured alternate order guide
- $0 deposit charges and fast funding (post-KYC)
- 0.15% buying and selling charges
- Tightest purchase and promote spreads in Canada below 0.1%
- Lowest charges to purchase BTC in Canada
The proposed fairness funding might be glad by the issuance of 37,500,000 frequent shares of LiteLink to CatalX and a money cost 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 charge 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 might be topic to a four-month-and-one-day statutory maintain interval in accordance with relevant securities legislation.
“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 excellent yr and continues to develop. In January 2021 alone, the corporate skilled 80% development 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 direction of the crypto market.”
“CatalX has additionally skilled vital development 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 succeed in $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. Briefly, this firm is rising in a short time.
“It is not stunning while you take a look at the expansion of the general market. Bitcoin simply closed out one of many largest years in its historical past and is predicted to proceed rallying in 2021 due to a surge of recent developments coming into the crypto area this yr, together with the launch of Facebook’s bitcoin-inspired cryptocurrency and the US cryptocurrency regulations.
“Regardless of latest worth volatility, Bitcoin remains to be up over 290% within the final yr and is predicted to remain elevated due to rising adoption of crypto amongst cost 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 comparable to loans and insurance coverage with many DeFi tasks constructed on prime of the Ethereum community.
“Cryptocurrency is clearly right here to remain, so we’re very enthusiastic about constructing a powerful 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 will not be 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 which means of relevant securities legal guidelines and the insurance policies of the Canadian Securities Trade.
LiteLink would additionally prefer to announce that it has engaged North Equities to supply and handle a complete six-month digital media advertising marketing campaign for the Firm for a complete price of $100,000. The Firm has additionally engaged Djordje Kovic for a digital media and advertising marketing campaign for 4 months for a complete price 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 development 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 Trade
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 completely regulated Cryptocurrency alternate with FINTRAC, CatalX has the very best requirements in safety and compliance and is partnered with world-trusted names in Blockchain applied sciences, danger 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 which means of america Non-public 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 determine forward-looking statements or data. Such statements characterize 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 vital enterprise, financial, aggressive, political and social dangers, contingencies and uncertainties. Many components, each recognized and unknown, might trigger outcomes, efficiency or achievements to be materially totally different from the outcomes, efficiency or achievements which might be 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 some other occasions affecting such statements and data apart from as required by relevant legal guidelines, guidelines and laws.
SOURCE LiteLink Applied sciences Inc.
