Therma Bright Announces Non-Brokered LIFE Financing & Concurrent Private Placement for up to a combined CAD$6 Million

Core Viewpoint - Therma Bright Inc. is conducting a non-brokered LIFE financing and a concurrent private placement to raise up to CAD$6 million through the issuance of common shares, aimed at enhancing working capital and supporting strategic initiatives [2][3][8]. Financing Details - The LIFE financing will involve issuing up to 50,000,000 common shares at a price of CAD$0.06 per share, with a total expected amount of CAD$3,000,000 [3][6]. - The concurrent private placement will also issue up to 50,000,000 common shares at the same price, targeting an additional CAD$3,000,000 [6]. - The LIFE financing is expected to close on or about October 18, 2024, subject to regulatory approvals [5]. Regulatory Compliance - The LIFE financing is conducted under the listed issuer financing exemption, allowing shares to be issued without a hold period in Canada, except Quebec [4]. - The concurrent private placement will have a statutory hold period of four months and one day following issuance [6][7]. Use of Proceeds - The net proceeds from both financings will be utilized to enhance the company's working capital, including funding for sales, marketing, and general operations [8]. Insider Participation - It is anticipated that insiders of the company will participate in the financings, which may be considered related party transactions but will be exempt from certain formal requirements [9]. Strategic Initiatives - The funds raised will support the implementation of the company's strategic plan, including driving sales for Venowave and advancing the Digital Cough Analyzer's FDA approval process [10].