Hamilton Thorne Announces Amendment to Proposed Private Placement and Debenture Interest Conversion
25 Agosto 2011 - 8:26PM
Marketwired
Hamilton Thorne Ltd. (TSX-V: HTL) ("Hamilton Thorne" or the
"Company"), a leading provider of advanced laser systems for the
regenerative medicine, fertility and stem cell research markets,
today announced, further to its news release issued on August 8,
2011, that it has amended the terms of its proposed private
placement of common shares ("Common Shares") of the Company. Under
the revised terms, the Company proposes to issue an aggregate of up
to approximately 15,000,000 Common Shares at a price of CDN$0.20
per Common Share, for aggregate gross proceeds of up to
approximately US$3.0 million. The Company anticipates that up to
approximately 12,250,000 Common Shares, representing gross proceeds
of up to approximately US$2.45 million, will be issued to insiders
of the Company. The Company is expecting an initial closing with
insiders on or before August 31, 2011 with the offering to remain
open to additional participation for up to thirty days thereafter.
The private placement remains subject to the approval of the TSX
Venture Exchange ("TSX-V").
As a result of these amendments, the Company also adjusted the
proposed terms pursuant to which the holders of the convertible
subordinated debentures issued in August 2010 and March 2011 may
exercise the previously announced right to convert the interest
accrued on the principal amount of such debentures into Common
Shares. All accrued interest shall now be convertible into Common
Shares at the new offering price of CDN$0.20 upon exercise of the
voluntary debenture conversion right. All other debenture
conversion terms, as announced on August 8, 2011, remain unchanged.
The conversion of all accrued interest into Common Shares remains
subject to TSX-V approval.
For further details on the proposed private placement and the
debenture conversion, including commentary on certain related party
transactions matters, please refer to the Company's news release
issued on August 8, 2011.
About Hamilton Thorne Ltd.
(www.hamiltonthorne.com)
Hamilton Thorne provides novel solutions for Life Science that
reduce cost, increase productivity as much as ten-fold, and enable
research breakthroughs in regenerative medicine, stem cell research
and fertility markets. The Company's new LYKOS™, Staccato™ and
Stiletto™ laser systems offer significant scientific advantages in
the fields of developmental biology, cancer research and advanced
cell biology. Hamilton Thorne's laser products attach to standard
inverted microscopes and operate as robotic micro-surgeons,
enabling a wide array of scientific applications and procedures.
Each member of Hamilton Thorne's family of products serves a
different research purpose. By simply turning the microscope
turret, researchers can have a new world of scientific capabilities
at their fingertips.
Hamilton Thorne's growing customer base includes pharmaceutical
companies, biotechnology companies, fertility clinics, university
research centers, and other commercial and academic research
establishments worldwide. Current customers include world-leading
research labs such as Harvard University, MIT, Yale, McGill
University, DuPont, Monsanto, Charles River Labs, Jackson Labs,
Merck, Novartis, Pfizer, Oxford University, and Cambridge.
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. 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. 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.
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For more information, please contact: David Wolf
President Hamilton Thorne Ltd. 978-921-2050 Email Contact Lisa
Rivero Director of Corporate Communications Hamilton Thorne Ltd.
978-921-2050 Email Contact
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