Hamilton Thorne Announces Completion of CDN $10,000,000 Bought Deal Private Placement
BEVERLY, Mass. and TORONTO, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Hamilton Thorne Ltd. (TSX-V:HTL) (“Hamilton Thorne” or the “Company”), a leading worldwide provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART) and developmental biology research markets, announces the completion of its previously announced bought deal private placement. On closing, the Company issued an aggregate of 9,090,910 common shares of the Company (“Common Shares”) at a price of CDN$1.10 per Common Share (the “Offering Price”) for aggregate gross proceeds of CDN$10,000,001 (the “Offering”). The Offering was led by Bloom Burton Securities Inc. on behalf of a syndicate comprised of Beacon Securities Limited and Cormark Securities Inc. (collectively, the “Underwriters”).
The net proceeds of the Offering will be used for funding cash consideration of future acquisitions and general working capital purposes.
In connection with their services, the Underwriters received a total cash commission of approximately $600,000 and 545,454 non-transferable broker warrants (“Broker Warrants”). Each Broker Warrant is exercisable for a period of 12 months into one common share of Hamilton Thorne at a price of CDN$1.10 per common share.
All securities issued under the Offering will be subject to a four month hold period from the closing date under applicable Canadian securities laws. The Offering is subject to receipt of final acceptance from the TSX Venture Exchange.
About Hamilton Thorne Ltd. (www.hamiltonthorne.ltd)
Hamilton Thorne is a leading global provider of precision instruments, consumables, software and services that reduce cost, increase productivity, improve results and enable breakthroughs in Assisted Reproductive Technologies (ART) and developmental biology research markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed and Embryotech Laboratories brands, through its growing sales force and distributors worldwide. Hamilton Thorne’s customer base consists of fertility clinics, university research centers, animal breeding facilities, pharmaceutical companies, biotechnology companies, and other commercial and academic research establishments.
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. Such statements include, but are not limited to, the proposed use of proceeds. 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.
For more information, please contact: David Wolf, President & CEO Michael Bruns, CFO Hamilton Thorne Ltd. Hamilton Thorne Ltd. 978-921-2050 978-921-2050 firstname.lastname@example.org email@example.com Glen Akselrod Bristol Investor Relations 416-737-4467 firstname.lastname@example.org