HAMILTON THORNE APPOINTS DAVID WOLF AS CHIEF EXECUTIVE OFFICER AND DIRECTOR
Co-Founder and Former CEO, Meg Spencer, to Continue as Chairman of the Board
BEVERLY, MA and TORONTO, Ontario – September 6, 2011 - 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 that David Wolf has been appointed Chief Executive Officer. Meg Spencer, the Company’s former CEO, will remain Hamilton Thorne’s Chairman of the Board and will take on a senior strategic role at the Company.
“Hamilton Thorne serves large and growing markets in stem cell, fertility and cell biology markets. With the recent completion of our $2.55 million financing and the sales momentum of new products like the LYKOS™ laser, we have both the products and resources to achieve substantial growth. In working closely with Meg and the Hamilton Thorne team for the past two years, it is clear that we share the same passion and vision for the Company, and I look forward to continuing our Company’s success in my new role,” said David Wolf, President and Chief Executive Office of Hamilton Thorne Ltd. “Meg has been an invaluable leader at Hamilton Thorne whose vision and market knowledge has driven the Company from its inception. We are fortunate that she will remain the Chairman of the Board and take on the Chief Strategic Advisor role at the Company.”
David Wolf joined Hamilton Thorne as President in 2009, and was instrumental in taking the Company public on the TSX Venture Exchange in October of that same year. As President and CEO of the Company, Mr. Wolf will be responsible for the overall operation of Hamilton Thorne. In addition to her continued role as Chairman, Meg Spencer will also be assuming the role of Chief Strategic Advisor. In this role, Ms. Spencer will continue to make key contributions to the overall product, market and business strategies of Hamilton Thorne.
“Taking the Company public in 2009 and launching our game-changing laser systems such as the LYKOS™ and Stiletto™ were two important milestones that I am proud to have accomplished as CEO,” said Meg Spencer, Co-Founder and Chairman of the Board of Hamilton Thorne Ltd. “With these business goals achieved and the Company on a growth path, I now transition the CEO position into David Wolf’s very capable hands. David has played a key role in developing and implementing the Company’s growth and financing strategies over the last two years, and I know that he is the right person to take Hamilton Thorne into its next phase of development.”
The Company also announced that Mr. Wolf has been appointed to the Company’s Board of Directors and that it has granted Mr. Wolf 583,235 incentive stock options to purchase common shares pursuant to the Company’s incentive option plan. The options are exercisable at Cdn$0.18 per share, vest over four years and expire ten years from the date of grant.
For further details on the $2.55 million private placement, please refer to the Company’s news release issued on August 31, 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.
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.