Yahoo Finance Telo Genomics Announces Warrant Exercise Agreement
TORONTO, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Telo Genomics Corp. (TSX-V: TELO) (OTC: TDSGF) (the “Company” or “TELO”) is pleased to announce that it has engaged Leede Jones Gable Inc. and Mackie Research Corporation (the “Brokers”) to solicit and facilitate, on a commercially reasonable efforts basis, the exercise of warrants issued pursuant to the Company’s financing announced November 25th, 2019 (the “Warrants”). TELO has 8,677,500 Warrants outstanding with an exercise price $0.20 per share which expire on November 25th, 2020. In connection with the engagement, the Brokers will be paid a fee of 4% of the gross proceeds received by TELO from the exercise of the Warrants.
“We sincerely appreciate the continued support of Leede, Mackie and all of our shareholders as we continue to develop Teloview®; our industry leading telomere platform technology, with non-invasive prognostic and diagnostic applications for cancer,” said Hugh Rogers, director of TELO.
The Company also agreed to issue 100,000 common shares of the Company at a deemed price of $0.25 per share in connection with a historical account payable. The issuance of the shares is subject to the TSX Venture Exchange’s final approval and will be subject to a statutory four month hold period in accordance with applicable securities laws, and additionally to a voluntary one year hold period.
About Telo Genomics
Telo Genomics is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant interest to the medical community for being less invasive and more easily replicated than traditional diagnostic approaches. By combining our team’s considerable expertise in quantitative analysis of 3D telomeres with molecular biology and artificial intelligence to recognize disease-associated genetic instability, Telo Genomics is developing simple and accurate products that improve day-to-day care for patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The benefits of our proprietary technology have been substantiated in over 150 peer reviewed publications and in 25 clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer’s disease. Our lead application, Telo-MM is being developed to provide important, actionable information to medical professionals in the treatment of Multiple Myeloma, a deadly form of blood cancer. For more information please visit www.telodx.com.
For further information, please contact:
Hugh Rogers
Director
416-673-8487
info@telodx.com
MaRS Centre, South Tower, 101 College Street, Suite 200, Toronto, ON, M5G 1L7
www.telodx.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding: the exercise of the Warrants and finder’s fees payable in connection therewith; and the issuance of shares in connection with a historical account payable are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.