On June 14, 2023, Telo Genomics Corp. closed the transaction. The company issued 11,335,500 units at an issue price of CAD 0.25 per unit for the gross proceeds of CAD 2,833,875.

The warrants will entitle the holder to acquire one additional Common Share at a price of CAD 0.40 per Common Share until June 13, 2025. The company paid a total of CAD 173,503.75 finder's fees in cash and issued a total of 694,015 finder's warrants. Each Finder's Warrant entitles the holder to acquire one common share of the Company at a price of CAD 0.25 per share until June 13, 2024.

The securities issued pursuant to the Offering are subject to a statutory four month hold period ending on October 14, 2023 in accordance with applicable securities laws. The transaction involved participation from 103 placees including 11 pro groups for 2,225,000. The company paid Finder's fee of CAD 173,503.73 in cash and 694,015 warrants.

Each warrant entitles the holder to purchase one common share at the price of CAD 0.25 for period of two years from the date of issuance.