Telo Genomics increases private placement to $1.6 million

Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) announced it has increased the size of its previously announced private placement of convertible debentures from $1,200,000 to $1,600,000.

The debentures will carry a 15% annual interest rate, compounded quarterly, and mature on December 15, 2026. Holders can convert the principal amount into common shares at $0.05 per share before maturity. The company cannot prepay the debentures prior to the maturity date.

For every $100,000 of convertible debentures issued, the company will issue 2 million detachable warrants. Each warrant allows the purchase of one common share at $0.08 per share for 12 months from the closing date.

The company previously closed an initial tranche, issuing debentures and 16,800,000 warrants for gross proceeds of $840,000. It plans to close one or two additional tranches for up to $760,000 in aggregate gross proceeds, with the final tranche expected to close by March 6, 2026.

Telo Genomics will use the net proceeds for working capital and general corporate purposes. The company may pay finder's fees in connection with the offering.

All securities issued will be subject to a four-month and one-day statutory hold period from the issuance date under Canadian securities laws. The offering requires regulatory approvals, including approval from the TSX Venture Exchange.

Telo Genomics develops diagnostic and prognostic tests for human disease through chromosomal telomere analysis, with applications in oncology and neurological diseases.

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