Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States
NESS-ZIONA, Israel, Jan. 16, 2025 (GLOBE NEWSWIRE) -- 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, CFO
info@vaxil-bio.com
647-558-5564
