Therma Bright Announces Closing of Over-Subscribed Private Placement for $1,250,000


    Toronto, Ontario–(Newsfile Corp. – August 6, 2020) – Therma Bright Inc. (TSXV: THRM), (“Therma” or the “Company“), a progressive medical device technology company, announces that it has completed the closing of its non-brokered private placement (the “Offering“) previously announced on July 20, 2020 and increased July 22, 2020. The Company has issued 16,666,667 units for gross proceeds of $1,250,000. No finder’s fee was paid in conjunction with the Offering. All securities issued are subject to a four month hold period expiring December 6, 2020, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

    Insiders of the Company purchased a total of 2,866,667 units under the private placement, which is considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a), respectively, of MI 61-101 in respect of such insider participation. No new insiders and no control persons were created in connection with the private placement.

    Rob Fia, the Company’s President & CEO, stated: “We are very pleased with the interest and positive market response for our private placement. Management and Board members participated for $215,000 in this private placement which exemplifies our team’s strong belief in our technology and the Company’s prospects.”

    About Therma Bright Inc.

    Therma Bright is a progressive medical device technology company focused on providing consumers and medical professionals with quality medical devices that address their medical and healthcare needs. The Company’s initial breakthrough proprietary technology delivers effective, non-invasive and pain-free skincare. Therma Bright received a Class II medical device status from the FDA for its platform technology that is indicated for the relief of the pain, itch, and inflammation of a variety of insect bites or stings. The Company received clearance for the above claims from the US FDA in 1997.

    Therma Bright Inc. trades on the TSXV (TSXV: THRM). For more information visit: and

    For further information, please contact:

    Therma Bright
    Rob Fia, CEO


    Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events such as a private placement financing, as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.


    Please enter your comment!
    Please enter your name here