Hamilton Thorne Announces Closing of $7.0 Million Private Placement Financing
BEVERLY, Mass. and TORONTO, May 29, 2020 (GLOBE NEWSWIRE) — Hamilton Thorne Ltd. (TSX-V: HTL) (“Hamilton Thorne” or the “Company”), a leading provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART), research, and cell biology markets, is pleased to announce that it has closed a non-brokered private placement offering (the “Offering“) of common shares of the Company (“Shares”). An aggregate of 6,364,000 Shares were sold under the Offering at a price of $1.10 per Share for total gross proceeds of $7,000,400 (approximately US$5.1 million). Unless otherwise indicated, all dollar amounts in this press release are expressed in Canadian currency.
The Company intends to use the net proceeds of the Offering for future acquisitions and for general corporate purposes.The Shares issued in connection with the Offering will be subject to a four month hold period expiring on September 30, 2020. In connection with the Offering, the Company paid arm’s length finders fees of approximately $315,000.The Shares issued have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined under the U.S. Securities Act) without registration or an exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.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), research, and cell biology markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed, Planer, 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 TSX 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.Forward-Looking StatementsCertain information in this press release may contain forward-looking statements, including, without limitation, with respect to the use of the net proceeds of the Offering. 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, including the annual information form of the Company dated May 12, 2020, which filings are available at www.sedar.com.For more information, please contact:
The Company intends to use the net proceeds of the Offering for future acquisitions and for general corporate purposes.The Shares issued in connection with the Offering will be subject to a four month hold period expiring on September 30, 2020. In connection with the Offering, the Company paid arm’s length finders fees of approximately $315,000.The Shares issued have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined under the U.S. Securities Act) without registration or an exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.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), research, and cell biology markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed, Planer, 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 TSX 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.Forward-Looking StatementsCertain information in this press release may contain forward-looking statements, including, without limitation, with respect to the use of the net proceeds of the Offering. 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, including the annual information form of the Company dated May 12, 2020, which filings are available at www.sedar.com.For more information, please contact:
