Termination of Reverse Takeover Agreement
Vaxil Bio Ltd. (“Vaxil” or the “Company”) (TSXV: VXL) has recently announced the termination of its definitive agreement with Green Data Center Real Estate Inc. This decision comes after careful consideration and mutual agreement between the two parties.
Details of the Agreement Cancellation
As stated in their announcement, the agreement, which was initially signed on August 21, 2024, involved Green Data Centers repaying a loan along with interest to Vaxil by July 9, 2025. As part of the agreement's termination, Green Data Centers is required to issue shares valued at US$50,000 to Vaxil, calculated based on an offering price of US$15.00 per share.
Future Strategic Directions for Vaxil
In light of this recent development, Vaxil is committed to exploring new avenues for enhancing shareholder value. The Company plans to continue focusing on the advancement of its existing assets while considering other potential strategic options that may arise. The key goal remains to maximize the return on investment for its shareholders.
About Vaxil Bio Ltd.
Vaxil Bio is an Israeli biotech firm dedicated to the development of innovative immunotherapy solutions. Their flagship product, ImMucin™, has made significant strides, completing a Phase 1/2 clinical trial aimed at treating multiple myeloma. The product has garnered orphan drug status, awarded by both the FDA and EMA, which underscores its potential in addressing critical health challenges.
Additional Considerations
As Vaxil navigates through these changes, it has reiterated its focus not only on ImMucin™ but also on evaluating possible new business avenues that could fall outside traditional biotechnology routes. This flexibility may open doors to various opportunities that align with the Company’s mission and shareholder interests.
Contacting Vaxil
For those seeking further information about Vaxil Bio and its innovative projects, you can reach out through the official company's communication channels. Engaging directly will provide insights into their ongoing developments and future plans.
Contact Information
Gadi Levin, CFO
Email: info@vaxil-bio.com
Phone: 647-558-5564
Frequently Asked Questions
What led to the termination of the agreement with Green Data Centers?
Vaxil Bio and Green Data Centers mutually agreed to terminate the agreement after thorough discussions.
What are the consequences of this termination for Vaxil?
Vaxil will receive shares from Green Data Centers valued at US$50,000 and will continue to explore other strategic options.
What is ImMucin™?
ImMucin™ is Vaxil's leading immunotherapy product aimed at treating multiple myeloma, which has shown promise in clinical trials.
How does Vaxil plan to enhance shareholder value?
The Company is focusing on developing its existing assets and evaluating new strategic alternatives.
Who can I contact for more information about Vaxil?
For additional inquiries, you can contact Gadi Levin, the CFO, via email at info@vaxil-bio.com or by phone at 647-558-5564.
