World News: 14:32 GMT Friday 14th September 2018. [Hamilton Thorne Ltd. via Globe Newswire via SPi World News]
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.
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.
Globe Newswire: 14:32 GMT Friday 14th September 2018
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