Vaxil Bio Partners with Green Data Centers
Vaxil Bio Ltd. (“Vaxil” or the “Company”) (TSXV:VXL) is excited to announce its new partnership with Green Data Center Real Estate Inc., a corporation incorporated in British Columbia. The two companies have signed an amalgamation agreement, which will allow Vaxil to acquire all issued and outstanding securities of Green Data Centers through a three-cornered amalgamation under the Business Corporations Act (British Columbia). As a result, former security holders of Green Data Centers will receive Vaxil securities on a one-for-one basis.
Importance of the Agreement
This transaction is expected to result in a reverse take-over of Vaxil, marking a significant shift in the Company’s business model as it transitions to focus on the operations of Green Data Centers after the deal is finalized.
Overview of Green Data Centers
Green Data Centers is dedicated to sustainably powering the digital world. The company specializes in developing renewable energy generation, storage assets, and hyperscale data centers, all of which are crucial for meeting the increasing demand for digital data and artificial intelligence (AI). With the rapid growth of the AI sector, the need for substantial energy resources is projected to rise dramatically.
Strategies for Value Creation
Green Data Centers creates value through various strategies:
- Renewable Generation: Harnessing solar and wind energy to generate long-term revenue through grid sales while providing cost-effective energy for data centers.
- Battery Energy Storage Systems (BESS): Developing projects that capitalize on energy price fluctuations and offer grid services.
- Data Centers: Establishing powered land and operational wholesale data centers.
Upcoming Development Projects
Green Data Centers has several exciting projects in the pipeline, including:
West Texas BESS Project
This initiative aims to develop a 250MW/1000MWh BESS project with a projected capital expenditure of $375 million USD. According to third-party modeling, the expected gross revenues will exceed $100 million USD. Plans for construction and contractor selection are anticipated to be finalized by early 2025.
Funding and Financial Strategies
Green Data Centers plans to finance its projects through non-recourse methods, utilizing equity, debt, and tax credits available under the Inflation Reduction Act. The company is currently in discussions with potential equity partners and providers to secure the necessary funding for its initiatives.
Shareholder Meetings and Approvals
Vaxil is preparing to hold a shareholder meeting to vote on various matters related to the transaction. This includes a potential name change to “Green Data Centers Inc.” and the appointment of a new board of directors. Additionally, the Company will undergo a share consolidation in anticipation of this transition.
The completion of the transaction is contingent upon standard closing conditions, including obtaining the required 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.
