Hamilton Thorne (TSX VENTURE: HTL) Private Placement Unit Offering
A non-brokered private placement basis, an aggregate of up to 6,666,667 Units at an offering price of CDN$0.1125 per unit for aggregate gross proceeds of US$750K.
Each unit will consist of 1 common share and 1/2 common share purchase warrant each warrant will provide the holder the right to purchase a common share at CDN$0.16875 for a period of 12 months following the closing. HTL also announced that its board of directors has approved an amendment to the 2009 stock option plan to increase the number of common shares reserved for issuance under the Plan from 4.8M to 9.3M (19.95% of the currently issued and outstanding common shares). This amendment remains subject to shareholder approval and the approval of the TSX-V. The interesting disclosure part, transparency at work: HTL anticipates that up to approximately 4M Units representing gross proceeds of up to approximately US$450K will be issued to insiders of HTL. The Offering is subject to the approval of the TSX Venture Exchange (“TSX-V”) and is expected to close in mid 5/12. HTL may pay finder’s fees to certain third parties in accordance with the policies of the TSX-V for introducing qualified subscribers to the Company under the private placement. HTL intends to use the net proceeds of the Offering to provide working capital to support its operations and future growth.
Hamilton Thorne designs, manufactures and distributes precision laser devices and advanced image analysis systems for the fertility, stem cell and development biology research markets. It provides novel solutions for Life Science that reduce cost, increase productivity, improve results and enable research breakthroughs in regenerative medicine, stem cell research and fertility markets. HTLs laser products attach to standard inverted microscopes and operate as robotic micro-surgeons, enabling a wide array of scientific applications and IVF procedures. Its image analysis systems improve outcomes in human IVF clinics and animal breeding facilities and provide high-end toxicology analyses. HTL’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, MIT, Yale, McGill, DuPont, Monsanto, Charles River Labs, Jackson Labs, Merck, Novartis, Pfizer, and Oxford and Cambridge.
