Hamilton Thorne Announces CDN $10,000,000 Bought Deal Private Placement
August 28 2018 - 8:21AM
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY,
OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES
Hamilton Thorne Ltd. (TSX-V:HTL), a leading world-wide provider of
precision instruments, consumables, software and services to the
Assisted Reproductive Technologies (ART) and developmental biology
research markets, today announced that it has entered into an
agreement with Bloom Burton Securities Inc., on behalf of a
syndicate of underwriters that includes Beacon Securities Ltd.
and Cormark Securities Inc. (collectively, the “Underwriters”),
pursuant to which the Underwriters have agreed to purchase, on a
bought deal private placement basis, 9,090,910 common shares of the
Company (the “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 net proceeds of the Offering will be used for funding cash
consideration of future acquisitions and general working capital
purposes.
Closing of the Offering is expected to occur on or about
September 20, 2018 and is subject to certain conditions including,
but not limited to, the receipt of all necessary regulatory and
stock exchange approvals, including the approval of the TSX Venture
Exchange and the applicable securities regulatory authorities.
“This strategic financing positions us to continue to grow
Hamilton Thorne through acquisition,” stated David Wolf, President
and Chief Executive Officer. “By strengthening our balance sheet
and broadening our institutional ownership we will be able to
accelerate and expand our acquisition program.”
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. 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 absent registration or an applicable exemption from the
registration requirements of the United States Securities Act of
1933, as amended, and applicable state securities laws.
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 expected closing date of the Offering and
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 including the risk that
the Company may not be able to obtain the necessary regulatory
approvals, as applicable, or to complete the Offering on the
proposed terms or at all. 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 |
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Michael Bruns,
CFO |
Hamilton Thorne
Ltd. |
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Hamilton Thorne
Ltd. |
978-921-2050 |
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978-921-2050 |
ir@hamiltonthorne.ltd |
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ir@hamiltonthorne.ltd |
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Glen Akselrod |
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Bristol Investor
Relations |
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416-737-4467 |
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glen@bristolir.com |
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