Telo Genomics Announces Private Placement Increased to $2,766,375 from Previously Announced Private Placement of $2,000,000

About this update from Telo Genomics Corp.

[{"type":"text","content":"Telo Genomics Announces Private Placement Increased to $2,766,375 from Previously Announced Private Placement of $2,000,000Toronto, Ontario--(Newsfile Corp. - June 6, 2023) - Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) (the \"Company\" or \"TELO\") is pleased to announce that it has increased the size of its previously announced non-brokered private placement (\"Offering\") from up to $2 million in proceeds to $2,766,375 and 11,065,500 units (the \"Units\" or each a \"Unit\").Each Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one non-transferable common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder to acquire one additional Common Share at a price of $0.40 per Common Share for a period of 24 months from closing. In connection with the Offering, the Company intends to pay finders' fees to eligible arm's length parties. The finders' fees may consist of a cash fee equal to 7% of the proceeds raised under the offering and finders' warrants equal in number to 7% of the Units sold under the Offering. Each finders' warrant will entitle the holder to acquire one Common Share of the Company at a price of $0.25 per share for a period of 12 months from the date of issuance.The Company intends to use the net proceeds of the Offering to fund its commercial plan to launch the Company's lead product for smoldering multiple myeloma, the Company's ongoing collaborative studies with the Mayo Clinic in multiple myeloma, to achieve ISO 15189 certification and the certified Clinical Laboratory Improvement Amendments (CLIA) accreditation, and for general working capital purposes.The securities to be issued pursuant to the Offering are subject to a statutory four month hold period from the date of issuance, in accordance with applicable securities laws. The Offering is subject to final approval from the TSX Venture Exchange. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction ...

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