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Download this file (HT-Closing_PR-29May2020.pdf)29-May-2020-Press-Release.pdfHamilton Thorne Announces Closing of $7.0 Million Private Placement Financing102 kB

HAMILTON THORNE ANNOUNCES CLOSING OF $7.0 MILLION PRIVATE PLACEMENT FINANCING

BEVERLY, MA and TORONTO, Ontario – May 29, 2020 – Hamilton Thorne Ltd. (TSX-V: HTL) (“Hamilton Thorne” or the “Company”), a leading provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART), research, and cell biology markets, is pleased to announce that it has closed a non-brokered private placement offering (the "Offering") of common shares of the Company (“Shares”). An aggregate of 6,364,000 Shares were sold under the Offering at a price of $1.10 per Share for total gross proceeds of $7,000,400 (approximately US$5.1 million). Unless otherwise indicated, all dollar amounts in this press release are expressed in Canadian currency.

The Company intends to use the net proceeds of the Offering for future acquisitions and for general corporate purposes.

The Shares issued in connection with the Offering will be subject to a four month hold period expiring on September 30, 2020. In connection with the Offering, the Company paid arm’s length finders fees of approximately $315,000.

The Shares issued have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined under the U.S. Securities Act) without registration or an exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in

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), research, and cell biology markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed, Planer, 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 TSX 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.

The Company has included earnings before interest, income taxes, depreciation, amortization, share-based compensation expense, changes in fair value of derivatives and identified acquisition costs related to completed transactions (“Adjusted EBITDA”) as a non-IFRS measure, which is used by management as a measure of financial performance. See section entitled “Use of Non-IFRS Measures” and “Results of Operations” in the Company’s Management Discussion and Analysis for the periods covered for further information and a reconciliation of Adjusted EBITDA to Net Income.

Forward-Looking Statements

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. 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
Hamilton Thorne Ltd.
978-921-2050
ir [AT] hamiltonthorne [DOT] ltd
Michael Bruns, CFO
Hamilton Thorne Ltd.    
978-921-2050 
ir [AT] hamiltonthorne [DOT] ltd
Glen Akselrod
Bristol Investor Relations   
905-326-1888
glen [AT] bristolir [DOT] com

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