THERMA BRIGHT INC ORD - TBRIF STOCK NEWS

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has expanded its investment in InStatin, a company developing an inhaled statin solution for chronic lung conditions like asthma and COPD. This investment is part of a SAFE (Simple Agreement for Future Equity) plan, which will increase Therma's ownership stake from the current 17% at a discount to InStatin's next financing round.

InStatin is initiating preclinical studies to progress towards Phase 1 human trials. The global asthma treatment market is projected to reach USD $30.1 billion by 2030, highlighting significant market potential. Additionally, Therma Bright is in discussions regarding its investment in InVixa, which is developing inhaled statins for COVID-19 pneumonia and ARDS treatment.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has received positive notification from the U.S. Centers for Medicare & Medicaid Services (CMS) regarding pending permanent Current Procedural Terminology (CPT®) and Healthcare Common Procedure Coding System (HCPCS) codes for its Venowave VW5 device. The codes are expected to cover ten health-related and CMS reimbursable indications, including prevention of deep vein thrombosis (DVT) and management of post-thrombotic syndrome symptoms.

The company anticipates formal approval in the coming days, which could significantly impact its market opportunity. According to the CDC, over 900,000 U.S. citizens are affected by DVT and pulmonary embolism annually. Global market projections for DVT treatment alone range from USD $1.26 billion by 2028 to USD $1.554 billion by 2032.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has received FDA 510K approval for its Venowave VW5 device, addressing the U.S. Centers for Medicare and Medicaid Services (CMS) requirements. This approval allows the device to be used successively by multiple patients, a key factor for securing permanent CPT® and HCPCS codes. The Venowave VW5 is a compact, battery-operated peristaltic pump that improves vascular and lymphatic flow in lower limbs, targeting conditions like deep vein thrombosis (DVT) and pulmonary embolism (PE).

With this approval, Therma Bright expects imminent issuance of permanent codes, enabling distribution partners to deploy Venowave to Medicare and Medicaid medical practitioners. The company has also engaged Outside The Box Capital Inc. for marketing and investor relations services to enhance communication with investors and expand visibility.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX), a developer and investment partner in diagnostic and medical device technologies, has engaged Independent Trading Group (ITG) for market-making services. This engagement, subject to regulatory approval, aims to maintain a reasonable market and improve liquidity of Therma Bright's common shares on the TSXV and other trading venues.

The agreement includes compensation of CAD $5,500 per month to ITG, with an initial one-month term that automatically renews unless terminated. Either party can terminate with 30 days' notice. ITG will not receive shares or options as compensation, and there are no performance factors in the agreement. The companies are unrelated, and ITG has no interest in Therma Bright's securities at the time of the agreement.

Therma Bright Inc. (TBRIF), a developer of medical device technologies, provided a market update.

The company successfully raised $1M CAD through a private placement, intending to invest in its Digital Cough Analyzer and InStatin Inc., along with covering debts and working capital.

The Venowave device awaits permanent HCPCS and CPT codes, potentially expanding its market reach.

Therma is working with the FDA on the regulatory requirements for its AI-powered Digital Cough Analyzer.

Investments in Inretio and InStatin show promise, with Therma holding significant stakes in both companies.

A strategic review is ongoing to explore various options to maximize shareholder value.

Therma Bright (TSXV: THRM, OTCQB: TBRIF) announced it has completed debt settlements by issuing 19,250,000 common shares at $0.01 per share, settling an aggregate debt of $192,500. These shares are subject to a hold period until October 20, 2024. CEO Rob Fia participated in the debt settlement, receiving 8,500,000 shares for $85,000 of debt, which is a related party transaction under MI 61-101. Prior to this, Fia owned 28,718,744 shares (7.2% of Therma's outstanding shares). Post-transaction, he now owns 37,218,744 shares, representing 8.8% of the total outstanding shares. On a partially diluted basis, Fia's ownership could rise to 13.3%. Fia's acquisition is for investment purposes and he may change his holdings in the future. Further details can be found on SEDAR+.

Therma Bright has completed the first tranche of its non-brokered private placement, raising $854,500 by issuing 85,450,000 units at $0.01 each. The proceeds will fund investments in Digital Cough Technology and InStatin Inc, cover management and director debts, investor relations, and general working capital. CEO Rob Fia purchased 17,500,000 units for $175,000, increasing his stake to 7.2%. Allele Communications will provide investor relations services for $7,500 per month under a new consulting agreement. The securities are subject to a hold period until October 11, 2024.

Therma Bright, a developer of diagnostic and medical device technologies, announces a non-brokered private placement offering up to $1,000,000 by issuing 100,000,000 units at $0.01 per unit. Each unit includes one common share and a half-warrant, with full warrants exercisable over three years at $0.05 in the first year and $0.10 in the subsequent years. The proceeds will fund their Digital Cough technology, pay debts, and support general working capital. The offering is expected to close by June 7, 2024, pending regulatory approvals. Additionally, Therma Bright has granted stock options and warrants to directors, officers, consultants, and entered into debt settlements issuing common shares.