Therma Bright Announces Share Consolidation
Rhea-AI Summary
Therma Bright (OTCQB: TBRIF) has announced a significant 1:8 share consolidation effective July 8, 2025. The company's outstanding shares will be reduced from 454,457,147 to approximately 56,807,143 shares post-consolidation.
The consolidation will affect all outstanding incentive stock options and warrants, which will be adjusted proportionally. Shareholders will receive new share certificates or Direct Registration Advice after submitting their pre-consolidation certificates with a letter of transmittal to Olympia Trust Company.
Positive
- Share consolidation could help meet minimum share price requirements for exchange listing
- Consolidation may attract institutional investors who prefer higher-priced shares
Negative
- Consolidation does not fundamentally change company value or market capitalization
- Transaction costs and administrative burden for shareholders to exchange certificates
Toronto, Ontario--(Newsfile Corp. - July 3, 2025) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX) ("Therma Bright" or the "Company") announces, further to its news release dated June 11, 2025, that effective Tuesday, July 8, 2025, the Company will consolidate the common shares in the capital of the Company (the "Shares") on the basis of one (1) post-consolidation Share for every eight (8) pre-consolidation Shares (the "Consolidation"). The new CUSIP number will be 883426207 and the new ISIN number will be CA8834262070 for the post-Consolidation Shares.
The Company currently has 454,457,147 Shares issued and outstanding and there will be approximately 56,807,143 Shares, subject to rounding, issued and outstanding on a post-Consolidation basis.
No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded down to the nearest whole Share. The Company's outstanding incentive stock options and warrants will be adjusted on the same basis (1:8) to reflect the Consolidation in accordance with their respective terms with proportionate adjustments to be made to the exercise prices.
The Company's post-Consolidation Shares are expected to begin trading on the TSX Venture Exchange (the "TSXV") on or about July 8, 2025.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders will be required to send their respective certificates representing the pre-Consolidation Shares along with a properly executed letter of transmittal to the Company's transfer agent, Olympia Trust Company (the "Transfer Agent"), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through the Transfer agent at 1-587-774-2340 or by email to cssinquiries@olympiatrust.com. All shareholders who submit a duly completed letter of transmittal along with their respective pre-Consolidation Share certificate(s) to the Transfer Agent, will receive a post-Consolidation Share certificate or Direct Registration Advice representing the post-Consolidation Shares.
About Therma Bright Inc.
Therma Bright develops and partners on cutting-edge diagnostic and medical device technologies that address 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
FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as current and future development of Therma Bright's products and related technology 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. Completion of the Consolidation remains subject to all necessary corporate and regulatory approvals. If the required approvals are not obtained, the Consolidation may not proceed as contemplated or at all.
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/257621
FAQ
What is the share consolidation ratio for Therma Bright (TBRIF) announced for July 2025?
How many shares will Therma Bright (TBRIF) have after the July 2025 consolidation?
When will Therma Bright's (TBRIF) consolidated shares begin trading?
What should Therma Bright (TBRIF) shareholders do with their existing share certificates?
Will Therma Bright (TBRIF) issue fractional shares in the consolidation?
