Mr. Jeffrey Sherman reports

TELESCOPE INNOVATIONS REPORTS STRONG GROWTH IN FISCAL YEAR 2023

Telescope Innovations Corp. has released financial results for the fiscal year ended Aug. 31, 2023. The company generated revenues of $2.82-million, representing an increase of 375 per cent over the previous fiscal year.

financial highlights of the fiscal year ended Aug. 31, 2023:

• Revenues of $2,824,010, a 375-per-cent increase over FY 2022;
• Expenses of $3,542,104;
• Net loss of $718,094;
• Total assets of $3,290,512.

A year of business development and investment in three strategic areas

1. Telescope worked to establish global leadership in on-line chemistry sampling and analysis products by launching its flagship product, DirectInject-LC. This product has been adopted by 13 of the top 20 pharmaceutical companies in the world.
2. Telescope executed multiple strategic contract projects building custom automated workflows to become the provider of choice for self-driving laboratories for major pharmaceutical manufacturers.
3. The company invested in the development of intellectual property focused on high-value specialty materials. Telescope was granted a Canadian patent on the production of pharmaceutically relevant indole compounds, and recently filed a provisional patent application on the synthesis of battery materials.

Jeffrey Sherman, Telescope chief operating officer, commented: "We are very pleased with the adoption of our DirectInject technology this year. We aim to build on this momentum and further grow our strategic partnerships within the pharmaceutical and chemical manufacturing sector. Telescope is becoming a well-trusted provider of chemical technology, and we're excited for the growth ahead."

Readers are encouraged to review the full financial statements and accompanying management discussion and analysis for the year ended Aug. 31, 2023, both of which are available under the profile for the company on SEDAR+.

About Telescope Innovations Corp.

Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The company builds and deploys new enabling technologies, including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency and data quality. The company's aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.

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