Vaxil Bio Proposed Reverse Takeover With Green Date Terminated
16 Janeiro 2025 - 4:35PM
Vaxil Bio Ltd. (“
Vaxil” or the
“
Company”) (TSXV:VXL) announces that further to
press release from August 21, 2024 with Green Data Center Real
Estate Inc., (“
Green Data Centers”), the Company
and Green Date Centers have mutually agreed to terminate the
definitive agreement entered into as of August 21, 2024
(“
Definitive Agreement”). Pursuant to the
Definitive Agreement, Green Data Centers will repay the loan and
interest it received from Vaxil, by July 9, 2025.
As consideration for the covenants and
agreements of the Vaxil, Green Data shall issue to Vaxil, Green
Data Shares having an aggregate value of US$50,000 at an issue
price equal to US$15.00 per Green Data share.
The Company will continue to actively explore
other strategic options for maximizing shareholder value, including
the continued development of Vaxil’s existing assets.
ABOUT VAXIL
Vaxil is an Israeli immunotherapy biotech
company focused on its novel approach to targeting prominent cancer
markers and infectious diseases. Its lead product ImMucin™
completed a Phase 1/2 clinical trial in multiple myeloma for which
it received orphan drug status from the FDA and EMA. The Company is
presently evaluating whether to continue to develop ImMucin™ or to
pursue other business, which may or may not be in the biotechnology
industry, in order to enhance shareholder value.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer: The TSX Venture Exchange Inc. has in
no way passed upon the merits of the Company and has neither
approved nor disapproved the contents of this press release. This
news release contains forward-looking information, which involves
known and unknown risks, uncertainties and other factors that may
cause actual events to differ materially from current expectation.
Important factors - including the availability of funds, the
results of financing efforts, the results of exploration activities
-- that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents
filed from time to time on SEDAR (see www.sedar.com). Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The company disclaims any intention or obligation, except to the
extent required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. This press release does not constitute an offer to
sell or a solicitation of an offer to sell any of the securities
described herein in the United States or elsewhere. These
securities have not been, and will not be, registered in the United
States Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States or to
U.S. persons unless registered or exempt therefrom.
Contact Information
For further information please visit
https://vaxil-bio.com/ or contact:
Gadi Levin, CFOinfo@vaxil-bio.com
647-558-5564
Vaxil Bio (TSXV:VXL)
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