Therma Bright Secures New Customer Initial Purchase Order, Signaling Market Confidence

Rhea-AI Summary

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has secured a new customer with an initial purchase order for 200 units of its Venowave VW5 product. The order comes from a key distributor in the Durable Medical Equipment sector, with potential for significant follow-on orders following a successful market launch over the next two months.

The company also announced two debt settlements: issuance of 2,000,000 common shares at $0.05 per share to settle $100,000 debt, and a proposed settlement of $24,000 debt through 676,000 common shares at $0.0355 per share.

Venowave is a Medicare and Medicaid-eligible device that enhances vascular and lymphatic flow in lower limbs. This FDA-designated Durable Medical Equipment operates on a rechargeable 1.5V NiMH AA battery and is designed for multi-patient use.

Positive

• Secured new customer and initial order for 200 Venowave units
• Potential for significant follow-on orders after market launch
• Product qualifies for Medicare and Medicaid reimbursement

Negative

• Issuing 2.68M new shares for debt settlements, indicating financial strain
• Settling debt at low share prices ($0.05 and $0.0355) suggesting weak market valuation

Toronto, Ontario--(Newsfile Corp. - April 24, 2025) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX) ("Therma" or the "Company"), a developer and investment partner specializing in advanced diagnostic and medical device technologies, is pleased to announce the successful signing of a new customer, resulting in an initial purchase order for 200 units of its flagship Venowave VW5 product, ("Venowave").

This purchase order underscores the continued demand for Venowave and the strength of the Company's product offering despite a challenging global business environment. The new customer, a key distributor within the Durable Medical Equipment sector, will be introducing Venowave to their established customer base.

Early indications following this initial order and a successful market launch over the next two months suggest the potential for significant follow-on orders of Venowave. Therma Bright is optimistic about the prospects of this new partnership and the opportunity to further expand the reach of its innovative medical device.

Rob Fia, CEO, commented: "This initial order is a testament to the value proposition of Venowave and the dedication of our team. We are excited to partner with this new distributor and look forward to the potential for substantial growth in this channel."

Therma Bright remains committed to navigating the evolving global trade environment and will continue to explore all available options to ensure the consistent and cost-effective delivery of its products to the market.

Further updates regarding the progress of this new business relationship and subsequent order volumes will be provided as they become available.

Therma Bright also announces that further to its press release of January 9, 2025, it has now issued 2,000,000 common shares at a deemed price of $0.05 per share to settle aggregate debt of $100,000. All shares issued in relation to this debt settlement are subject to a hold period expiring August 24, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The Company also announces that it has negotiated a debt settlement with an arm's length creditor pursuant to which it proposes to settle aggregate debt of $24,000 in consideration for which it will issue an aggregate of 676,000 common shares at a deemed price of $0.0355 per share, subject to acceptance by the TSX Venture Exchange.

Venowave, which qualifies for Medicare and Medicaid HCPCS code reimbursement under 10 medical indications, is a compact, battery-operated peristaltic pump designed to enhance vascular and lymphatic flow in the lower limbs. When strapped below the knee, the device generates a wave-form motion that compresses the calf, promoting upward displacement of venous and lymphatic fluid. Powered by a single rechargeable 1.5V NiMH AA battery, the FDA-designated Durable Medical Equipment (DME) device allows users to receive treatment while staying active. The Venowave is built for durability and supports repeated use across multiple patients.

About Therma Bright Inc.

Therma Bright develops and partners on cutting-edge diagnostic and medical device technologies that address key 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 such as current and future sales of Venowave 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.

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/249651

FAQ

What is the size of Therma Bright's (TBRIF) new Venowave purchase order?

The initial purchase order is for 200 units of the Venowave VW5 product from a new distributor in the Durable Medical Equipment sector.

How many shares is TBRIF issuing for debt settlement in April 2025?

Therma Bright is issuing 2,000,000 shares at $0.05 per share for $100,000 debt, and proposing 676,000 shares at $0.0355 per share for $24,000 debt.

What medical reimbursements are available for Therma Bright's Venowave device?

Venowave qualifies for Medicare and Medicaid HCPCS code reimbursement under 10 medical indications.

When will the hold period expire for TBRIF's debt settlement shares?

The hold period for the 2,000,000 shares issued in the debt settlement expires on August 24, 2025.