Global Link Data Solutions Ltd.
TSX VENTURE : GLK

Global Link Data Solutions Ltd.

June 22, 2005 19:49 ET

Global Link Data Solutions Ltd. Announces Private Placement and Conversion of Debenture

CALGARY, ALBERTA--(CCNMatthews - June 22, 2005) - GLOBAL LINK DATA SOLUTIONS LTD. (TSX VENTURE:GLK) ("Global Link" or "the Corporation") is pleased to announce a private placement of $640,000 with a private energy fund and the conversion of its $400,000 debenture.

The Corporation will issue 1,000,000 units to the private energy fund at a price of $0.64 per unit. Each unit is comprised of one common share and a half warrant. A full warrant is exercisable into one common share at a price of $0.90 on or before December 31, 2006. If all warrants are exercised an additional $450,000 will be raised. The unbrokered private placement is subject to regulatory approval.

The proceeds will be used to increase the manufacturing of hydraulic submersible pumps, to expand product line and for working capital for Western Pump Solutions Ltd., a wholly owned subsidiary of Global Link.

As of June 30, 2005 the existing $400,000 convertible debenture will be exchanged for common shares at a conversion price of $0.32, resulting in an additional 1,250,000 shares issued from treasury, one half of which will be restricted until October 31, 2005. The private energy fund will be purchasing 540,000 of these common shares from two principles of the Corporation. Insiders are selling a further 700,000 shares to another private investment fund.

Global Link Data Solutions Ltd. is a leading provider of complete integrated communications and managed solutions for the oil & gas industry. The Corporation provides the latest wireless technologies, managed computer systems including all offerings from satellite and cellular providers. Global Link also provides multi sensor wireless gas detection services to the oil & gas industry. Global Link's wholly owned subsidiary Western Pump Solutions is expanding its product offerings to artificial lift solutions specifically to the CBM market. Ongoing investment in a fleet of rental assets and commitment to working with its clients to provide innovative solutions to their needs has resulted on Global Link becoming a strategic partner to many of the oil & gas major companies.

TSX-V: "GLK" - Close: $0.67

Shares outstanding: 16,214,293

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Global Link Data Solutions Ltd.
    Derek M. Begin
    President and Chief Executive Officer
    (403) 243-0820
    (403) 243-3425 (FAX)
    Email: dbegin@global-link.com
    or
    Global Link Data Solutions Ltd.
    Don Jorgensen
    VP Finance & CFO
    (403) 243-0820
    (403) 243-3425 (FAX)
    Email: djogensen@global-link.com
    Website: www.global-link.com
    or
    Global Link Data Solutions Ltd.
    #10, 5920 - 11th Street S.E.
    Calgary, Alberta T2H 2M4