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Apolo IV Acquisition Corp. and Marviken Ontario Inc. enter into Binding Letter of Intent to Complete Qualifying Transaction
Apolo IV Acquisition Corp. and Marviken Ontario Inc. enter into Binding Letter of Intent to Compl...
About this update from Apolo Iv Acquisition Corp.
[{"type":"text","content":"\n\n\n\n Apolo IV Acquisition Corp. and Marviken Ontario Inc. enter into Binding Letter of Intent to Complete Qualifying Transaction\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Oct. 22, 2024\n \n\n /CNW/ - Apolo IV Acquisition Corp. (TSXV: AIV.P) (\"\n \n Apolo\n \n \") and Marviken Ontario Inc. (\"\n \n Marviken\n \n \") in cooperation with BotOptions (UK) PLC, a financial institution specialising in the issuing of debt instruments, are pleased to announce that they have entered into a binding letter of intent dated\n \n October 22, 2024\n \n , which outlines the terms and conditions pursuant to which Apolo and Marviken will complete a transaction that will result in a reverse take-over of Apolo by Marviken (the \"\n \n P\n \n\n roposed\n \n\n Transaction\n \n \"). The Proposed Transaction will be an arm's length transaction, and, if completed, will constitute Apolo's \"Qualifying Transaction\" (as such term is defined in Policy 2.4 of the TSX Venture Exchange Corporate Finance Manual).\n \n\n\n\n Marviken\n \n\n\n\n Marviken is the owner of a 600 acre site (the \"\n \n Energy Cluster\n \n \") that is strategically located south of\n \n Stockholm, Sweden\n \n . The Energy Cluster benefits from a long history of power production, existing operational battery facilities, and plans for significant expansion, including a data center and a 70 MW / 70 MWh battery energy storage system (\"\n \n BESS\n \n \") (collectively, the \"\n \n Project\n \n \") connecting via an on-site substation. Marviken is aiming to build services in the transformation of the Swedish energy landscape, driven by a significant need to address grid reliability.\n \n\n\n\n Proposed Transaction Summary\n \n\n\n\n The Proposed Transaction is expected to be structured such that a wholly-owned subsidiary of Apolo will amalgamate with Marviken (the \"\n \n Combination\n \n \") to form a newly amalgamated company (\"\n \n Amalco\n \n \"). Pursuant to the Combination, holders of common shares in the capital of Marviken (each a \"\n \n Marviken Sh...