Telescope closes $5.2M first tranche of placement

Mr. Henry Dubina reports TELESCOPE CLOSES INITIAL TRANCHE OF PRIVATE PLACEMENT Telescope Innovations Corp. has closed the first tranche of its private placement under the listed issuer financing exemption (as defined below) and has issued 20,813,184 common shares of the company at a price of 25 cents per common share for gross proceeds of $5,203,296. "We are pleased to announce the successful first tranche closing of our oversubscribed equity raise," said Henry Dubina, chief executive officer of Telescope. "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. Additionally, we aim to enhance our business development capabilities to better support our distribution partners across the U.S., Europe and Asia." In accordance with National Instrument 45-106 (Prospectus Exemptions), the offering was made to purchasers resident in Canada, except Quebec, as well as certain jurisdictions outside of Canada, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 and in reliance on the amendments to Part 5A of NI 45-106 set forth in Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The common shares offered under the listed issuer financing exemption are not subject to a hold period in accordance with applicable Canadian securities laws. Finders' fees in the amount of $103,612.50 have been paid by the company in connection with the offering to certain arm's-length parties. About Telescope Innovations Corp. Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improve experimental throughput, efficiency and data quality. The company's aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability. We seek Safe Harbor.