SOURCE: Hamilton Thorne

Hamilton Thorne

June 09, 2015 16:15 ET

Hamilton Thorne Closes Over-Subscribed CDN$1,500,000 Private Placement

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BEVERLY, MA and TORONTO, ON--(Marketwired - Jun 9, 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 closing of an over-subscribed CDN$1.5 million non-brokered private placement.

"In addition to providing funding to accelerate our acquisition program, one of our objectives in completing this private placement was to increase liquidity in our shares by diversifying and broadening our shareholder base," commented David Wolf, President and CEO of Hamilton Thorne. "We are pleased to welcome three new institutional investors as Hamilton Thorne shareholders."

The private placement included Bloom Burton Canadian Healthcare Fund, as lead investor, along with two other institutional investors and several new individual investors.

On closing, the Company issued an aggregate of 4,320,143 units of the Company (each, a "Unit") at an offering price of CDN$0.35 per Unit for aggregate gross proceeds of CDN$1,512,050. Each Unit consisted of one common share (each, a "Common Share") of the Company and one half of one common share purchase warrant (each whole purchase warrant, a "Warrant"). Each Warrant will provide the holder the right to purchase a Common Share at CDN$0.45 for a period of fifteen (15) months following the closing. 

No finder's fees or commissions were paid in connection with this private placement. All securities issued are subject to a four month hold period expiring on October 10, 2015 in accordance with applicable securities laws.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

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 micro-surgical devices, 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