On October 22, 2024, Apolo IV Acquisition Corp. (TSXV: AIV.P) and Marviken Ontario Inc., in collaboration with BotOptions (UK) PLC, agreed to a reverse takeover. The transaction, expected to qualify as Apolo's "Qualifying Transaction" under TSXV guidelines, will merge Apolo with Marviken, resulting in a new entity, Marviken Energy Inc.

Marviken owns a 600-acre Energy Cluster in Sweden, including battery storage facilities and plans for a data center and 70 MW/70 MWh battery energy storage system. The transaction will involve consolidating Apolo's shares, with Marviken shareholders receiving Apolo shares on a one-for-one basis post-consolidation. Marviken also plans a concurrent private placement of subscription receipts to raise $5 million, led by Haywood Securities Inc.

Legal advisors include Mason Law for Marviken, Cassels Brock & Blackwell LLP for Apolo, and Bennett Jones LLP for Haywood Securities. The transaction is subject to board, shareholder, and regulatory approvals, with completion targeted by December 31, 2024.

Trading of Apolo shares remains halted pending regulatory review.