Therma Bright Welcomes Medical Device & Pharmaceutical Veteran Douglas S. Sommerville to Its Advisory Board

Rhea-AI Summary

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has appointed Douglas S. Sommerville to its Advisory Board. With 30 years of experience in the medical device industry, Sommerville brings valuable expertise to the company. He previously served as Head of Country for Teva Canada and Global Vice President of Infusion Systems at Baxter Healthcare International. Sommerville will focus on Venowave sales and business development efforts, leveraging his extensive network in the medical retail space, hospital management, and industry associations. Therma Bright has also granted 3,300,000 stock options to directors, officers, and consultants, exercisable at $0.08 per share for three years.

Positive

• Appointment of Douglas S. Sommerville, a veteran with 30 years of experience in the medical device industry, to the Advisory Board
• Sommerville's extensive network in medical retail, hospital management, and industry associations could potentially boost Venowave sales and business development
• Sommerville's expertise may benefit Therma Bright's investment partners at Inretio, InStatin, and InVixa

Negative

• Granting of 3,300,000 stock options at $0.08 per share may lead to potential dilution for existing shareholders

New Advisory Board Member will focus on Venowave sales and business development efforts

Toronto, Ontario--(Newsfile Corp. - September 12, 2024) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ("Therma" or the "Company"), a developer and investment partner in advanced diagnostic and medical device technologies, is pleased to announce the addition of Douglas S. Sommerville to its Advisory Board. With 30 years of experience in sales and operations within the medical device industry, Mr. Sommerville brings a wealth of expertise to the Company.

Mr. Sommerville previously served as the Head of Country for Teva Canada Limited, where he oversaw the Canadian operations of Teva's generic drug business, the pharmaceutical firm's third-largest global subsidiary with sales exceeding $1.3 billion. Prior to this role, he was the Global Vice President of Infusion Systems at Baxter Healthcare International, a leading global medical and pharmaceutical technology company. In this position, he managed global sales, marketing, and distribution for Baxter's infusion pumping devices, intravenous administration sets, and pain management and ambulatory infusion devices.

Furthermore, Mr. Sommerville served as Chairman of the Canadian Generic Pharmaceutical Association until his retirement from Teva in 2018 and is a U.S. patent holder (number 5,304,163) for the "Integral Reconstitution Device," which is marketed worldwide by Baxter Healthcare under the trade name Mini Bag PLUS.

"We are thrilled to welcome Doug to our Advisory Board," said Rob Fia, CEO of Therma Bright. "Doug is highly respected across North America and internationally, with established relationships within the medical retail space, hospital management, medical practitioner networks, and key industry leaders and associations. His deep expertise in the pharmaceutical and medical device sectors will be invaluable to our business development efforts with Venowave and Digital Cough Analyzer, as well as our investment partners at Inretio, InStatin, and InVixa."

Mr. Sommerville will join Mr. Raimondo, who joined the Advisory Board last month, and will leverage his network to introduce Therma Bright and its innovative diagnostic and medical device technologies.

Therma also announces that pursuant to the Company's 10% rolling stock option plan and in compliance with the policies of the TSXV, it has granted incentive stock options to certain directors, officers and consultants of the Company to purchase up to an aggregate of 3,300,000 common shares of the Company. The options are exercisable for a period of three years at a price of $0.08 per share.

About Therma Bright Inc.
Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.

Therma Bright Inc.
Rob Fia, CEO
rfia@thermabright.com
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FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events and related information such as future sales of Venowave 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 such results will be achieved. Actual results could differ materially from those anticipated due to several 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 because 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223082

FAQ

Who is Douglas S. Sommerville and what is his role at Therma Bright Inc. (TBRIF)?

Douglas S. Sommerville is a medical device and pharmaceutical industry veteran with 30 years of experience who has been appointed to Therma Bright Inc.'s Advisory Board. He will focus on Venowave sales and business development efforts.

What are Douglas S. Sommerville's previous roles before joining Therma Bright Inc. (TBRIF)?

Prior to joining Therma Bright, Sommerville served as Head of Country for Teva Canada and Global Vice President of Infusion Systems at Baxter Healthcare International.

How many stock options did Therma Bright Inc. (TBRIF) grant and at what price?

Therma Bright Inc. granted 3,300,000 stock options to directors, officers, and consultants, exercisable at $0.08 per share for a period of three years.

What specific areas will Douglas S. Sommerville focus on at Therma Bright Inc. (TBRIF)?

Douglas S. Sommerville will focus on Venowave sales and business development efforts, as well as potentially contributing to Therma Bright's investment partners at Inretio, InStatin, and InVixa.