Therma Bright to Conduct Non-Brokered LIFE Financing and Private Placement for Up to $6 Million
Both the financing and private placement will include common shares only and will not include warrants.

Proprietary diagnostic and medical device technologies developer and investment partner Therma Bright (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX) announced that it will be conducting a non-brokered listed issuer financing exemption (LIFE) private placement of up to CAD$3,000,000 through the issuance of up to 50,000,000 common shares of the company at CAD$0.06 per share.
Subject to compliance with applicable regulatory requirements and per National Instrument 45-106 – Prospectus Exemptions (NI 45-106), the LIFE Financing is being made to purchasers resident in each of the Provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106.
The shares issued under the LIFE Exemption will not be subject to a hold period per applicable Canadian securities laws. There is an offering document related to the LIFE financing that can be accessed under the Therma Bright SEDAR profile and on the company’s website. Prospective investors should read this Offering Document before making an investment decision.
The LIFE Financing is expected to close in one or more closings and Therma Bright expects to close the first tranche on or about October 18, 2024, or such earlier or later date as the Company may determine. Closing of the LIFE Financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange (TSXV).
In addition to the LIFE Financing, the Company announces a concurrent non-brokered private placement of up to CAD$3,000,000 through the issuance of up to 50,000,000 common shares of the Company at CAD$0.06 per share to purchasers pursuant to other applicable exemptions under NI 45-106. All securities issued in connection with the Concurrent Private Placement will be subject to a statutory hold period of four months and one day following the date of issuance per applicable Canadian securities laws.
Rob Fia, CEO of Therma Bright stated:
“These funds will help us further implement our strategic plan in driving Venowave sales and Digital Cough Analyzer’s U.S. Food and Drug Administration (FDA) 513(g) as a remote therapeutic monitoring (RTM) solution, Investor Relations services as well as our investment in Inretio, Instatin and Invixa.”
The closing of the Concurrent Private Placement may take place in one or more tranches as determined by the Company and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSXV.
The Company may pay finders’ fees to eligible finders in connection with the LIFE Financing and the Concurrent Private Placement, subject to compliance with applicable securities laws and the policies of the TSXV.
The net proceeds from the LIFE Financing and the Concurrent Private Placement will be utilized to enhance the Company’s working capital, including funding for sales, marketing, and general operations.
It is anticipated that insiders of the Company will participate in the LIFE Financing and/or the Concurrent Private Placement. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (MI 61-101). Such insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 under sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on any of the exchanges or markets outlined in subsection 5.5(b) of MI 61-101, and the fair market value of the securities to be distributed to the insiders will not exceed 25% of the Company’s market capitalization.
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Therma Bright (TSXV: THRM) is a paid client of Wealthy VC.
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