Telo Genomics Announces AGM Voting Results and Provides Corporate Update
Toronto, Ontario--(Newsfile Corp. - March 24, 2021) - Telo Genomics Corp. (TSXV: TELO) (the "Company" or "TELO") is pleased to announce the results of its recent annual general shareholders meeting (the AGM) held on March 04, 2021 in Toronto, ON. The Company is also pleased to provide a corporate update, including an update on its lead clinical development program.
TELO wishes to announce the voting results from the AGM held on March 04, 2021. A total of 5,161,568 shares representing 11% of the Company's total issued and outstanding common shares were voted either by proxy or by proxy holders.
Based on the results of the proxy voting, the following five nominees proposed by TELO's Management were elected as directors of Telo Genomics Corp. to serve until the corporation's next annual meeting of shareholders or until their successors are elected or appointed, with shares represented by proxy or proxy holders voting in favour of individual nominees as shown in the following table.
|Nominee||Number of Shares|
In addition to the election of all nominees listed as directors in the Management Information Circular, dated January 26, 2021, Telo Genomics Corp. shareholders approved all other resolutions placed before the meeting. These included fixing the number of directors of the corporation for the ensuing year at five; appointing auditors for the corporation for the ensuing year; approving the Company's stock option plan; and approving an amendment to the Company's Bylaws to allow holding shareholders meetings in a virtual format only as a COVID-19 safety measure to ensure the safety of the Company's shareholders, directors, officers and stakeholders.
- TELO is pleased to announce that it has received the first batch of samples related to the ongoing multiple myeloma clinical studies conducted in collaboration with Mayo Clinic. The samples received passed the Company's accession quality control and TELO's technical team has already started to process the received samples.
- TELO has advanced discussions with its Clinical Advisory Board and strategic consultant, BioCore Strategies, LLC, for the purpose of expanding the commercial applications of its proprietary diagnostic/prognostic technology platform TeloView®.
- TELO has also received $616,289 funds from the early exercise of warrants that were issued in connection with convertible secured debt (the debt was converted on November 24, 2019) expiring on November 24, 2021. The exercised warrants represent approximately half of the total warrants issued. As a result, the cash position of TELO was $2,153,560 as of February 28, 2021.
- TELO also announces the appointment of Mr. Christopher Ross as the Company's CFO effective April 01, 2021. Mr. Ross is a CPA,CGA with broad financial experience in providing financial accounting, strategic analysis, and consulting services to both private and public companies. He has been granted 100,000 options with a term of 5 years and an exercise price of $0.64 per TELO's approved stock option plan and subject to final TSX Venture Exchange approval.
- Mr. Ross is replacing Mr. Ryan Cheung, who has served as Company's CFO and Board Director since September 2018. Mr. Cheung will continue to serve as a Director on TELO's Board.
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-MMTM 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.
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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 "intends", "will", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the clinical efficacy of products, commercial viability of products, use of proceeds, and the ability of the TeloView® platform to deliver personalized medicine resulting in better treatments and outcomes 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.
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