SOURCE: Hamilton Thorne

Hamilton Thorne

November 16, 2015 16:53 ET

Hamilton Thorne Announces Exercises of Warrants Yielding Gross Proceeds of CDN $1.1 Million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

BEVERLY, MA and TORONTO, ON--(Marketwired - Nov 16, 2015) - Hamilton Thorne Ltd. (TSX VENTURE: HTL) ("Hamilton Thorne" or the "Company"), a leading provider of precision laser devices and advanced image analysis systems for the fertility, stem cell and developmental biology research markets, today announced the exercises of a total of 5,720,500 warrants issued in November 2014 at an exercise price of CDN$0.20 per share yielding gross proceeds of CDN$1,144,100 (approx. US$850,000).

Management and Insiders exercised a total of 1,770,500 warrants yielding gross proceeds of CDN$354,100 (approx. US$265,000).

Following these exercises, the Company will have 69,965,039 shares issued and outstanding. The remaining 1,779,500 unexercised warrants expired.

The Company intends to use the proceeds from the warrant exercises to fund its acquisition strategy, product development, and provide working capital to support its operations and future growth.

About Hamilton Thorne Ltd. (www.hamiltonthorne.com)

Hamilton Thorne designs, manufactures and distributes precision laser devices and advanced image analysis systems for the fertility, stem cell and developmental biology research markets. It provides novel solutions for Life Science that reduce cost, increase productivity, improve results and enable research breakthroughs in regenerative medicine, stem cell research and fertility markets. Hamilton Thorne's laser products attach to standard inverted microscopes and operate as robotic micro-surgeons, enabling a wide array of scientific applications and IVF procedures. Its image analysis systems improve outcomes in human IVF clinics and animal breeding facilities and provide high-end toxicology analyses.

Hamilton Thorne's growing customer base includes pharmaceutical companies, biotechnology companies, fertility clinics, university research centers, and other commercial and academic research establishments worldwide. Current customers include world-leading research labs such as Harvard, MIT, Yale, McGill, DuPont, Monsanto, Charles River Labs, Jackson Labs, Merck, Novartis, Pfizer, and Oxford and Cambridge.

Neither the Toronto Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

Contact Information

  • For more information, please contact:

    David Wolf
    President & CEO
    Hamilton Thorne Ltd.
    978-921-2050
    Email Contact

    Michael Bruns
    CFO
    Hamilton Thorne Ltd.
    978-921-2050
    Email Contact