On June 21, 2024, Telo Genomics Corp. closed the transaction. The company announced that it has has closed an over-subscribed, non-brokered, private placement of 3,250,000 unit at an issue price of CAD 650,000.

Each Unit consists of one common share and one-half of one nontransferable common share purchase warrant. Each Warrant entitles the holder to acquire one additional Common Share at a price of $0.40 per Common Share until June 21, 2027. In connection with the Offering, the Company paid a total of CAD 7,000 cash and issued a total of 35,000 finder?s warrants as finder?s fees to an arm?s-length finder.

Each Finder's Warrant entitles the holder to acquire one Common Share of the Company at a price of CAD 0.20 per Common Share until June 21, 2025. All securities issued pursuant to the Offering are subject to a four-month and one day hold period ending on October 22, 2024, in accordance with applicable securities laws. The Offering is subject to TSX Venture Exchange final acceptance.