Vaxil Bio and Green Data Centers Finalize Amalgamation
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Vaxil Bio Enters Into Agreement With Green Data Centers
Vaxil Bio Ltd. (“Vaxil” or the “Company”) (TSXV:VXL) and Green Data Center Real Estate Inc., a corporation existing under the laws of British Columbia, are pleased to announce that they have entered into an amalgamation agreement. This agreement will see Vaxil acquire all of the issued and outstanding securities of Green Data Centers by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia), allowing the former security holders of Green Data Centers to receive securities of Vaxil on a one-for-one basis.
Significance of the Transaction
The transaction is expected to constitute a reverse take-over of Vaxil, leading to a change in the Company’s business model, focusing on the operations of Green Data Centers after the closing.
About Green Data Centers
Green Data Centers’ mission is to sustainably power the digital world. This corporation develops renewable energy generation, storage assets, and hyperscale data centers, essential for managing the growing demand for digital data and artificial intelligence (AI). With the escalating AI sector, the need for substantial energy resources is poised to increase significantly.
Value Creation Strategies
Green Data Centers generates value through multiple avenues:
- Renewable Generation: Utilizing solar and wind energy to produce long-term revenue through grid sales and cost-effective energy for data centers.
- Battery Energy Storage Systems (BESS): Developing projects that profit from energy price fluctuations and providing grid services.
- Data Centers: Creating powered land and operational wholesale data centers.
Development Pipeline
Green Data Centers’ upcoming projects include:
West Texas BESS Project
Aiming to establish a 250MW/1000MWh BESS project, this initiative has a projected capital expenditure of $375 million USD. The expected gross revenues, based on third-party modelling, exceed $100 million USD. The project includes plans for construction and selecting contractors by early 2025.
Funding and Financing Plans
Green Data Centers intends to finance its developments non-recourse via equity, debt, and tax credits available under the Inflation Reduction Act. Discussions with potential equity providers and partners are underway to ensure the successful financing of projects.
Shareholder Meetings and Approvals
Vaxil plans to hold a shareholder meeting to vote on various matters related to the transaction, including a potential name change to “Green Data Centers Inc.” and appointing a new slate of directors. The Company will also undergo a consolidation of its shares in preparation for this change.
Completion of the transaction depends on customary closing conditions, including necessary approvals from the TSX Venture Exchange.
Contact Information
Vaxil Bio Ltd
Gadi Levin, CEO
info@vaxil-bio.com
+16475585564
Green Data Center Real Estate Inc.
Jason Bak, CEO
jbak@greendatacenters.com
Frequently Asked Questions
What is the primary objective of the transaction between Vaxil and Green Data Centers?
The main goal is to facilitate a reverse take-over where Vaxil will adopt the business model of Green Data Centers, focusing on renewable energy and data center operations.
What kind of projects is Green Data Centers planning?
Green Data Centers is developing renewable energy generation projects, energy storage systems, and wholesale data centers to meet rising demands.
How will this transaction affect Vaxil's shareholders?
Vaxil shareholders will vote on the amalgamation, which will lead to a restructuring of the company and potentially a change in its name and governance.
When is the shareholder meeting expected to be held?
Vaxil intends to hold the shareholder meeting as soon as practicable to discuss the transaction and other related matters.
What are the expected outcomes post-transaction?
Post-transaction, Vaxil plans to focus on Green Data Centers’ business operations, leveraging their expertise in renewable energy and data infrastructure.
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