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Date Announced: 09 Jun 2015
Company specializes in laser kit for advanced biological applications.
BEVERLY, MA and TORONTO, ON--(Marketwired - Jun 9, 2015) - Hamilton Thorne Ltd. (TSX-V: 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.
Source: Hamilton Thorne
E-mail: via web site
Web Site: www.hamiltonthorne.com
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