Source: Telo Genomics.
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  • Telo Genomics (TELO) has completed the second and final tranche of its oversubscribed non-brokered private placement
  • The company issued an additional 390,000 units for gross proceeds of C$195,000
  • The offering has now raised a total of $2,287,750
  • Telo intends to use the proceeds to fund its studies with the Mayo Clinic as well as a new certified Clinical Laboratory Improvement Amendments lab
  • Telo Genomics is a biotech company pioneering a telomere platform applicable to liquid biopsies and related technologies in oncology and neurological diseases
  • Telo Genomics (TELO) is up by 2.04 per cent and is currently trading at $0.50 per share

Telo Genomics (TELO) has completed the second and final tranche of its oversubscribed non-brokered private placement.

The company issued an additional 390,000 units for gross proceeds of C$195,000.

The offering has now raised a total of $2,287,750.

Each unit consists of one Telo common share and one-half of one non-transferable common share purchase warrant.

Each warrant entitles the holder to acquire one additional common share for $0.75 until January 2, 2023.

Telo intends to use the proceeds to fund its ongoing collaborative studies with the Mayo Clinic in multiple myeloma, the construction or purchase of a certified Clinical Laboratory Improvement Amendments lab, the exploration of additional indications and for general working capital purposes.

A director of the company subscribed for 10,000 units, which constitutes a related party transaction.

Telo Genomics is a biotech company pioneering a telomere platform applicable to liquid biopsies and related technologies in oncology and neurological diseases.

Telo Genomics (TELO) is up by 2.04 per cent and is currently trading at $0.50 per share as of 1:13 pm ET.

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