Telo Genomics Corp. to File Statement of Defence and Counterclaim to Lawsuit Filed by Former President

Rhea-AI Summary

Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) announced it has received a Statement of Claim from its former President, Sherif Louis, who is seeking approximately $530,000 in alleged unpaid notice and bonuses. The Company stated it intends to vigorously defend against the claim and will file a statement of defence and counterclaim in response.

The announcement represents a legal dispute between the Company and its former executive, with potential financial implications depending on the outcome of the legal proceedings.

Positive

• None.

Negative

• Legal claim of $530,000 filed against the company by former President
• Potential financial liability and legal expenses from lawsuit defense

Toronto, Ontario--(Newsfile Corp. - June 30, 2025) - Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) (the "Company" or "Telo Genomics") has received a Statement of Claim filed by Sherif Louis, the former President of the Company, in the amount of approximately $530,000 for notice and bonuses that he claims are owed to him. Telo intends to file a statement of defence and counterclaim and vigorously defend the claim.

For further information, please contact:
Guido Baechler
Executive Chairman
647-477-9365
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 "intends", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Certain forward-looking statements, including statements regarding the Company's the amounts claimed and the Company's intent to defend the claim are subject to known and unknown risks, uncertainties and other factors that may cause the actual outcome to be materially different from those expressed or implied by such forward-looking statements or forward-looking information.. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257397

FAQ

How much is the former President of Telo Genomics (TDSGF) claiming in the lawsuit?

The former President, Sherif Louis, is claiming approximately $530,000 for alleged unpaid notice and bonuses.

What is Telo Genomics' (TDSGF) response to the lawsuit filed by its former President?

Telo Genomics stated it intends to vigorously defend against the claim and will file a statement of defence and counterclaim.

Who filed the lawsuit against Telo Genomics (TDSGF)?

Sherif Louis, the former President of Telo Genomics, filed the lawsuit.

What is the basis for the lawsuit against Telo Genomics (TDSGF)?

The lawsuit is based on claims for unpaid notice and bonuses that the former President alleges are owed to him.