TSX VENTURE: HTL
BEVERLY, MA and TORONTO, ON, Dec. 30 /CNW/ - Hamilton Thorne Ltd.
(TSX-V: HTL), a leading provider of advanced laser systems for the
regenerative medicine, developmental biology and stem cell research
markets, today announced that the Company has extended the maturity of
its $5 million line of credit with Commerce Bank and Trust Company
through October 1, 2012. The line of credit extension strengthens the
Company's balance sheet and working capital by continuing to categorize
the debt as long-term, and provides additional time for the Company to
execute its growth strategy and refinance the debt on advantageous
The line of credit extension is supported by letters of credit issued by
two major shareholders. As part of the extension, the Company has
agreed with those shareholders to develop a plan to reduce the debt and
letters of credit over time, including, a commitment to utilize half of
the proceeds from any potential exercise of certain outstanding
warrants to reduce the bank debt.
About Hamilton Thorne Ltd. (www.hamiltonthorne.com)
Hamilton Thorne is a leading provider of advanced laser systems for the
regenerative medicine, and stem cell research markets. Hamilton
Thorne's lead products, the ZILOS-tk™ and XYClone® laser systems,
attach to standard inverted microscopes and operate as robotic
micro-surgeons, significantly reducing time and increasing efficiency
in key in-vitro fertilization, stem cell, and regenerative medical
research applications. The new Staccato™ and Stiletto™ laser systems
are designed to broaden the Company's markets and offer significant
advantages to developmental biology, cancer research and advanced cell
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. 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.
SOURCE Hamilton Thorne Ltd.
For further information: For further information:
David Wolf, President
Hamilton Thorne Ltd.
Lisa Rivero, Director of Corporate Communications
Hamilton Thorne Ltd.
The Equicom Group