Telo Genomics Corp. announced a non-brokered private placement of 8,000,000 units at an issue price of CAD 0.25 per unit for the gross proceeds of CAD 2,000,000 on May 19, 2023. Each Unit will consist of one common share of the Company and one-half of one non-transferable common share purchase warrant.

Each Warrant will entitle the holder to acquire one additional Common Share at a price of CAD 0.40 per Common Share for a period of 24 months from the date of issuance. In connection with the Offering, the Company may pay a finder's fee to eligible arm's length parties. The finder's fee may consist of a cash fee equal to 7% of the gross proceeds raised under the Offering and finder's warrants equal in number to 7% of the Units sold under the Offering.

Each finder's warrant will entitle the holder to acquire one Common Share of the Company at a price of CAD 0.25 per Common Share for a period of 12 months from the date of issuance. The securities issued pursuant to the Offering will be subject to a four-month hold period from the date of issuance, in accordance with applicable securities laws. The Offering is subject to TSX Venture Exchange acceptance.