Avax One Signs LOI to Acquire Canadian Data Center for $2.3M
Avax One Technology announced that it has signed a non-binding letter of intent to acquire the Bantry Data Site, an energy-advantaged data center site in Alberta, Canada. Under the terms of the LOI, Avax One would acquire the site for a purchase price of $2.3M with a targeted closing date of August 1, subject to satisfactory completion of due diligence and negotiation and entry into a definitive purchase and sale agreement. As part of the LOI, Avax One has deposited a fully refundable $100,000 deposit with Newbit's legal counsel. Avax One is engaged in a 30-day due diligence period, during which it will have exclusive access to the site and related information, including a virtual data room, on-site inspection access, and the opportunity to engage with the site's gas supplier.
