Telo Genomics Announces Non-Brokered Private Placement of Convertible Debentures for up to $1,200,000

Executive Summary

• Telo Genomics Corp. announced a non‑brokered private placement to raise up to $1,200,000 through secured convertible debentures.
• The debentures bear 15% annual interest (compounded quarterly), mature nine months after closing, and are convertible at $0.05 per common share.
• For each $100,000 of debentures issued, the company will issue 2 million detachable warrants exercisable at $0.08 per share for 12 months post‑closing; proceeds are earmarked for lab trials and general working capital.

Key Details

• Offering Size: Up to $1.2 M in gross proceeds.
• Instrument: Secured convertible debentures (“Debentures”).
• Interest Rate: 15% per annum, compounded quarterly.
• Maturity: 9 months after the closing date; no pre‑payment right for the company.
• Conversion Price: $0.05 per common share (holder’s election, any time before maturity).
• Warrant Issuance: 2 million detachable warrants per $100,000 of debentures issued.
• Warrant Exercise Price: $0.08 per share; exercisable for a period of 12 months from the closing date.
• Use of Proceeds: Lab trials and general working capital.
• Conditions: Subject to receipt of all necessary approvals from the TSX Venture Exchange.
• Holding Period: Debentures, warrants, and any securities issuable upon conversion or exercise will be subject to a four‑month hold period under Canadian securities laws.
• Finder’s Fees: The company may pay finder’s fees in connection with the offering.

Notable Quotes

(No executive quotes were included in the release.)