Telescope closes $5.2M first tranche of placement

Executive Summary

• Telescope Innovations Corp. has closed the initial tranche of its private placement under the listed issuer financing exemption, raising gross proceeds of $5,203,296.
• The company issued 20,813,184 common shares at a price of $0.25 per share.
• The capital raise is intended to accelerate the development of the company's self-driving laboratory and the DirectInject-LC product line, while enhancing business development capabilities in the U.S., Europe, and Asia.

Key Details

• Transaction Structure: Initial tranche of a private placement under the listed issuer financing exemption (NI 45-106).
• Shares Issued: 20,813,184 common shares.
• Price Per Share: $0.25 CAD.
• Gross Proceeds: $5,203,296.
• Finders' Fees: $103,612.50 paid to arm's-length parties.
• Regulatory Exemption: Offered pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 and Coordinated Blanket Order 45-935.
• Jurisdiction: Purchasers resident in Canada (except Quebec) and certain jurisdictions outside of Canada.
• Hold Period: Common shares are not subject to a hold period under applicable Canadian securities laws.
• Use of Proceeds: Accelerate development of self-driving laboratory and next-generation DirectInject-LC product line; enhance business development capabilities for distribution partners in the U.S., Europe, and Asia.

Notable Quotes

• "We are pleased to announce the successful first tranche closing of our oversubscribed equity raise... This is a seminal event for the company. Having operated the business responsibly at near cash break-even over the past two years, this funding will enable Telescope to accelerate the development of our self-driving laboratory and the next generation of our flagship DirectInject-LC product line." — Henry Dubina, Chief Executive Officer