Hamilton Thorne Announces Initial Closing of Over-Subscribed CDN$750,000 Private Placement

Date Announced: 11 Nov 2014

Maker of laser devices for stem cell research raises money.

BEVERLY, MA and TORONTO, ON--(Marketwired - Nov 11, 2014) - 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 initial closing of its previously announced non-brokered private placement.

"We were gratified to secure this over-subscribed private placement at the maximum offering amount of CDN$750,000," commented David Wolf, President and CEO of Hamilton Thorne. "In addition to providing funding to accelerate product development and support our future growth, one of our objectives in completing this Offering was to increase liquidity in our shares by diversifying and broadening our shareholder base. We are pleased to welcome a number of new shareholders to Hamilton Thorne."

At the initial closing, the Company issued an aggregate of 6,537,500 units of the Company (each, a "Unit") at an offering price of CDN$0.10 per Unit for aggregate gross proceeds of CDN$653,750 (the "Offering"). Each Unit consists of one common share (each, a "Common Share") of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant will provide the holder the right to purchase a Common Share at CDN$0.20 for a period of twelve months following the closing (subject to acceleration in certain circumstances at the Company's sole discretion). The Company has received definitive subscription agreements in respect of the remaining 962,500 Units and expects to close on such Units on or about November 14, 2014.

The Company is not paying any finders' fees or commissions in connection with the Offering. All securities issued in connection with this Offering are subject to a four month hold period in accordance with applicable securities laws.

Source: Hamilton Thorne

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