Therma Bright Announces Expanded U.S. Orders for Venowave and Mobilizes Supply Chain for Upcoming Sales Volume
Rhea-AI Summary
Therma Bright (OTCQB:TBRIF) reported expanded U.S. orders for its Venowave mobile compression device and a shares-for-debt settlement.
Horizon Health USA ordered 100 more units, bringing its total to 300, while Gen-X Med ordered 50. Therma plans bulk component reorders to support rising demand. The company intends to settle $396,840 of debt by issuing 6,614,000 shares at $0.06, including 4,700,000 shares to directors and officers, subject to TSXV acceptance and a four-month-plus-one-day hold period.
Positive
- Horizon Health cumulative Venowave orders reach 300 units within months
- Gen-X Med places follow-on order for 50 Venowave units in the U.S.
- Plan to reorder bulk components to support higher Venowave sales volumes
- Proposed settlement of $396,840 debt via equity reduces balance-sheet liabilities
Negative
- Issuance of 6,614,000 new shares at $0.06 increases share count and potential dilution
- 4,700,000 shares to directors and officers create related-party transaction considerations
- Debt settlement and insider participation remain subject to TSXV acceptance
AI-generated analysis. How Rhea-AI works. Not financial advice.
The Company Announces Shares for Debt Settlements
Toronto, Ontario--(Newsfile Corp. - June 23, 2026) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX0) ("Therma" or the "Company"), a developer and investment partner specializing in advanced medical device technologies, is pleased to announce continued sales momentum for its Venowave mobile compression device in the United States, highlighted by additional follow-on orders from Horizon Health USA ("Horizon") and from Gen-X Med.
Building on the rapid deployment of previous shipments, Horizon Health USA has placed a new order for 100 Venowave units. This brings Horizon's positive order history to a total of 300 units within just months of their initial adoption, demonstrating consistent clinician satisfaction and market adoption across Horizon's extensive vascular patient base.
Further expanding Therma Bright's market footprint, Gen-X Med has placed a follow-on order for 50 Venowave units. This existing customer relationship reflects the broadening appeal and commercial traction of the Venowave technology across distinct medical distribution networks in the U.S.
To meet this accelerated demand and prepare for upcoming sales, Therma Bright is actively organizing and streamlining its manufacturing logistics for the next phase of bulk component reordering, ensuring a seamless supply chain to support both current and pipeline orders.
Rob Fia, CEO of Therma Bright, commented: "The positive order history from Horizon Health is a tremendous validation of Venowave's utility and market fit. Seeing a premier distributor repeatedly double down on their inventory proves that patients and clinicians are getting real value. Furthermore, Gen-X Med's additional order of 50 units shows that our traction is expanding into new channels. We are now aggressively managing our manufacturing logistics to ensure we are fully prepared for the next wave of reorders and upcoming sales volumes."
Therma also announces that it has negotiated debt settlements with arm's length and non-arm's length creditors. Pursuant to the debt settlements, and subject to acceptance by the TSX Venture Exchange (the "TSXV"), the Company proposes to settle aggregate debt of
Directors and officers of the Company are participating in the debt settlements and will receive an aggregate of 4,700,000 shares in consideration for the settlement of an aggregate
About Venowave:
Venowave is a compact, battery-operated peristaltic pump that is worn on the calf. It is designed to increase blood flow in the veins to prevent blood clots and treat symptoms of chronic venous insufficiency. Venowave is a mobile mechanical compression system reimbursable in the United States through Medicare with permanent HCPCS code, E0683.
About Therma Bright Inc.
Therma Bright is a developer and investment partner specializing in advanced diagnostic and medical device technologies. The Company's portfolio includes innovative solutions for vascular health, respiratory diagnostics, and topical treatments. Therma Bright is listed on the TSX Venture Exchange (THRM), the OTCQB (TBRIF), and the Frankfurt Stock Exchange (JNX0).
For further information, please contact:
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. 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/302500