Latest news with #ThermaBright
Yahoo
5 hours ago
- Business
- Yahoo
Therma Bright Proposes to Amend Certain Warrants and Negotiates Debt Settlements
Toronto, Ontario--(Newsfile Corp. - June 5, 2025) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX) ("Therma Bright" or the "Company") a developer and investment partner specializing in advanced diagnostic and medical device technologies, announces that subject to the approval of the TSX Venture Exchange (the "TSXV"), the Company intends to amend the exercise price of an aggregate of 42,725,000 outstanding common share purchase warrants of the Company (the "Warrants") that were issued as part of the Company's private placement ("Private Placement") that closed on June 10, 2024. The Warrants had an original exercise price of $0.05 per share until June 10, 2025, and $0.10 per share thereafter until they expire on June 10, 2027. Following receipt of TSXV acceptance, the Company intends to amend the exercise price to $0.05 per share until December 31, 2025, and $0.10 per share thereafter. All other terms of the Warrants remain the same, including the expiry date of June 10, 2027. 8,750,000 Warrants are held by insiders of the Company. Pursuant to TSXV policies, no more than 10% of the total number of Warrants to be re-priced may be held by insiders. Accordingly, only 4,272,500 Warrants held by insiders will be subject to the foregoing re-pricing amendment and the remainder will retain their original exercise price terms. The application of the Warrant amendments to insiders constitutes a "related party transaction" within Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' Warrant amendment participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the insiders, exceeds 25% of the Company's market capitalization (as determined under MI 61-101). The Company intends to issue an updating news release upon receipt, if any, of Warrant amendment approval. Therma Bright also announces that it has negotiated debt settlements with arm's length creditors pursuant to which it proposes to settle aggregate debt of $124,000 in consideration for which it will issue an aggregate of 6,200,000 common shares at a deemed price of $0.02 per share, subject to acceptance by the TSXV. 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: Therma Bright Fia, CEOrfia@ Follow us X 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'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. 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 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-04-2025
- Business
- Yahoo
Therma Bright Reviews Manufacturing Strategy in Light of US Tariff Changes
Toronto, Ontario--(Newsfile Corp. - April 16, 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 provide an update to address the potential impact of recent and evolving US tariff policies on our current manufacturing operations of Venowave in China, which serves the US market. The Company is actively reviewing the implications of recent tariff changes imposed by the US on goods manufactured in foreign countries, particularly China. These tariffs have the potential to significantly increase the cost of our products sold in the US market. In response, Therma has initiated a comprehensive review of all available manufacturing options to ensure the long-term competitiveness and stability of our supply chain. Therma is reviewing various manufacturing options which includes a thorough analysis of onshoring and establishing manufacturing capabilities within North America (Canada, USA, or Mexico). The Company is also considering a hybrid approach; combining manufacturing of Venowave or component parts in China with onshoring in North America. In the case of continued full manufacturing of Venowave in China the option will be evaluated in conjunction with strategies to mitigate tariff costs, including potential absorption of some or all tariff expenses if financially feasible in the current dynamic environment. The Company's decision-making process will extend beyond pure cost considerations and will encompass critical factors such as: Supply chain resilience: assessing the stability and reliability of different manufacturing locations and potential risks. Lead Times: evaluating the impact on production and delivery timelines. Quality Control: ensuring consistent product quality across different manufacturing environments. Intellectual Property Protection: considering the risks associated with different manufacturing locations. Logistics and Transportation: analysing the efficiency and cost of moving goods from various manufacturing sites to the US market. Market Access and Geopolitical Stability: evaluating the long-term implications of manufacturing locations on market access and geopolitical risks. Therma Bright recognizes that the current tariff landscape is subject to change. Our analysis will consider various potential scenarios and their impact on our business. It is important to emphasize that no final decision regarding our future manufacturing strategy has been made at this time. The Company is committed to keeping our shareholders informed. We will provide a further update once our comprehensive review is complete and a definitive course of action has been determined. We appreciate our shareholders' understanding as we navigate this evolving situation and work to ensure the long-term success of the Company. Therma Bright would also like to announce that it continues to work with national distributors to expand the market presence for Venowave with further updates in the near future. The Venowave VW5, 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 VW5 is built for durability and supports repeated use across multiple patients. About Therma Bright 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: Therma Bright Fia, CEOrfia@ Follow us X FORWARD-LOOKING STATEMENTS Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as manufacturing 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
Associated Press
13-03-2025
- Business
- Associated Press
Image Protect Announces New Consumer Products Division and Secures Exclusive Marketing and Distribution Rights for Major Health-Related Products in Multi-Billion Dollar Sectors
Company Announces Global Wellness Products a New Division of Image Protect, Inc. NEWMEDIAWIRE) - Image Protect, Inc. (OTC:IMTL) ( ('Image Protect' or the 'Company'), in a major announcement the Company has created Global Wellness Products, a new consumer products division in the health and wellness sector, and has already secured its first of several contracts for the marketing and distribution of cutting-edge light therapy health products, as well as other contracts that are currently under negotiation for several other popular new consumer products to be announced. This exclusive contract with Canadian company Therma Bright, Inc. (TSXV:THRM) (OTC:TBRIF), a leading developer specializing in advanced diagnostic and medical device technologies, gives Global Wellness Products the exclusive rights to market and distribute several of their popular and innovative products. With this new division, Global Wellness Products expects to penetrate the multi-billion-dollar health and wellness sector and aggressively market its products on many platforms. This new division is up and running, taking orders and shipping products. With a proven track record of over $2 million in sales in the Canadian market, and with the US market being over ten times larger, the InterceptCS(TM) cold sore prevention product, one of the featured items offered on the Global Wellness Products website, will command the top spot in our initial national advertising campaigns, with strong projected direct-to-consumer sales. CEO of Global Wellness Products, Frank Casella, stated, 'With our new funding partner and initial capital input, we are rapidly expanding the company with this exciting new division. We see great opportunity within the retail marketplace to introduce Therma Bright's consumer products, including the InterceptCS(TM) Cold Sore Prevention Device, as this proven medical device addresses the growing global cold sore treatment market*, which in 2024 was estimated at USD$1.02 billion and is expected to grow to USD$1.57 billion over the next 7 years. The InterceptCS(TM) device fits nicely into this marketplace, which is mainly driven by ointments and creams. With over 5 million chronic cold sore sufferers in the U.S. alone, the potential for this unique, proven product is nothing short of limitless. The technology, efficacy, and pricing are going to be a resounding success for the company, and our excellent working relationship with Therma Bright will continue to produce additional opportunities.' * Source: Per Coherent Research, the global cold sore treatment market was estimated at USD$1.02 billion in 2024 and is expected to reach USD$1.57 billion by 2031. President of Therma Bright, Rob Fia, added, 'We're pleased to team up with Global Wellness Products for the sale and delivery of our cutting-edge consumer products, including the successful InterceptCS(TM) cold sore prevention device, and witness how its consumer-direct marketing expertise and retail partners can help to market and sell our innovative cold sore prevention device and related heat and light therapy products. We anticipate great success and look forward to working with Frank Casella and Global Wellness Products.' With over 50 years of combined experience in the direct response consumer sales industry, the management team at Image Protect believes that Global Wellness Products is the perfect opportunity to drive additional revenue and profits to the company. The company is excited about this new division and, because of the potential in the billion-dollar markets, expects Global Wellness Products to quickly become its highest-grossing division. Shareholders are encouraged to visit the new division at and to see the products that are already available and currently shipping. Products include InterceptCS(TM), the world's first clinically proven medical device that prevents cold sores, and Benepod(TM), a patented hot and cold light therapy device that helps relieve pain without the need for medications. Other products are coming online in the summer of 2025 and beyond. Follow Image Protect, Inc. to learn more about Global Wellness Products, Review Control Reputation Management, and and to stay informed about company developments and growth: Company social media accounts: Image Protect corporate updates on X: @IMTLCorp Global Wellness Products Company updates on X: @GWProds Review Control Company updates on X: @Review_Control. Facebook: ImageProtect Instagram: ImageProtectCorp Company web addresses: About Image Protect, Inc. Image Protect, Inc. is a consumer products and business services company, featuring technologically inventive wellness products specializing in light therapy applications through its newest division, Global Wellness Products. In addition, the company maintains two diverse and vitally important business-to-business services in Review Control(TM) Reputation Management and for businesses of all types and sizes, as well as individuals who need online reputation assistance. Utilizing proprietary technology applications combined with excellent customer service and support, its newly acquired subsidiaries Review Control(TM) Reputation Management and 2-Cent the company has established itself in the space in recent years and continues to grow and penetrate new verticals. New services are currently in development to further the company's commitment to providing the very best in review marketing subscription products to the business community. About Global Wellness Products Global Wellness Products is the company's newest division and was created to be a premier leader in the health and wellness products space. With over 50 years of combined experience in the direct response consumer products sector, the principals and staff at Global Wellness Products are ready to make massive inroads into the multi-billion-dollar health and wellness industry. About Review Control(TM) Reputation Management Review Control(TM) Reputation Management is a proprietary, business-to-business subscription platform that can increase and improve the online reviews of its clients and serves a vital business interest to millions of businesses of all types and sizes. With prices starting at just $59 per month, it is an easy, affordable, and effective solution for any type of business to obtain more positive online reviews- which increases search ranking, attracts more customers and revenue, and increases the value of the client's business. Founded in 2018, Review Control(TM) has established itself as a recognized national brand and has grown steadily since its inception, providing excellent service and many satisfied clients. About 2-Cent Texts is our newest proprietary business-to-business text marketing service that allows our clients to capitalize on their success by providing affordable outreach to their existing customer base via targeted text messaging. With both SMS and MMS capabilities, this platform closes the communication gap between business owners and their loyal customers. It also provides the ability to retain those valuable customers with a constant stream of updates, sales and promotions, service reminders, and all manner of profitable messaging, increasing incremental sales and revenues. Safe Harbor Provision Cautionary statement for purposes of the 'Safe Harbor' provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties, and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties, and assumptions include the execution and performance of contracts by the company and its customers, suppliers, and partners. The company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
Associated Press
31-01-2025
- Business
- Associated Press
Therma Bright Inc. (OTC: TBRIF) Expands in $6.72 Billion Compression Market
In an aging world where healthcare costs are rising, the demand for cost-effective, non-invasive treatments is skyrocketing. One sector seeing a surge in interest is compression therapy, a market projected to grow from $4.18 billion in 2024 to $6.72 billion by 2033. Traditionally dominated by compression stockings and bulky pneumatic devices, the space is undergoing a technological shift toward portable, user-friendly solutions—opening the door for companies developing next-generation devices. One under-the-radar player making moves in this space is Therma Bright Inc. (OTCQB: TBRIF) (TSXV: THRM) (FSE: JNX). The company's Venowave VW5, an FDA-cleared, battery-powered compression device, has been gaining traction in the U.S. market, especially following recent reimbursement approvals from Medicare and private insurers. With a growing distribution network, strong early sales, and a huge addressable market, Therma Bright is quickly positioning itself as a compelling small-cap investment in a sector experiencing major tailwinds. With reimbursement momentum building and major distribution deals already in place, is Therma Bright an overlooked gem in the booming compression therapy industry? Let's take a closer look at the opportunity. Therma Bright Inc.: Advancing Medical Innovation with Venowave VW5 Therma Bright Inc. is a developer and investment partner in advanced diagnostic and medical device technologies. The company focuses on delivering high-quality, innovative healthcare solutions to both consumers and medical professionals. Milestone Achievement: HCPCS Code Reimbursement Secured Therma Bright and its nationwide U.S. distribution partners have successfully secured Medicare and Medicaid HCPCS Level II code reimbursements within just 60 days. Since October 1, 2024, over 110 Venowave VW5 units have been deployed across the U.S. in pilot tests, with 25 units already receiving full reimbursement through commercial health networks and federal healthcare programs. The remaining 85 units are anticipated to follow suit soon. Given these strong results, the company has initiated discussions on scaling sales, optimizing delivery logistics, and ramping up manufacturing with its distribution partners. 'Our U.S. national distributors are highly impressed with the speed of CMS reimbursements for the Venowave VW5,' said Rob Fia, CEO of Therma Bright. 'Typically, brand-new HCPCS Level II codes require more time to process, but our code has been efficiently handled within 60 days. This sets a strong precedent for even faster reimbursements in the future and supports our commercialization efforts.' Expanding U.S. Distribution with DME Authority Therma Bright has signed a Letter of Intent (LOI) with DME Authority, a Nashville-based distributor, to significantly expand Venowave's reach. Under this agreement, DME Authority will establish at least three comprehensive distribution agreements, requiring an initial inventory purchase of $2 million. Collectively, these partners will commit to purchasing $6 million worth of Venowave VW5 units within the first six months of 2025, with an equal commitment for Q3 and Q4. DME Authority will also acquire Therma Bright's remaining in-stock inventory as part of this agreement, ensuring seamless market expansion. 'Our strategy to secure Venowave's HCPCS code was crucial, and the timing couldn't be better,' said Erick Gosse, CEO of DME Authority. 'Medicare patients have lacked a mobile mechanical compression solution—Venowave now fills that gap effectively.' Venowave VW5 The Venowave VW5 is a compact, battery-operated peristaltic pump designed to improve vascular and lymphatic flow in the lower limbs. It qualifies for Medicare and Medicaid reimbursement under 10 medical indications and is the only Medicare-approved mobile mechanical compression system under HCPCS code E0683. Major Purchase Orders Driving Market Expansion Therma Bright continues to strengthen its market presence through key purchase agreements: Valor Medical Solutions: Placed an initial order for 100 Venowave VW5 units following successful pilot trials. The purchase equates to a minimum of $81,955 USD in HCPCS code reimbursements ($117,952 CAD). Valor anticipates increasing its orders bi-weekly to meet growing demand. DME Authority: Confirmed a major purchase order of 1,750 Venowave VW5 units, totaling $1.43 million USD ($2.05 million CAD) in reimbursements. This milestone further solidifies DME's role as a Premier Distributor Partner for Therma Bright. Market Outlook: Seizing a Growing Opportunity The global compression therapy market, valued at $4.18 billion in 2024, is projected to grow to $6.72 billion by 2033, representing a CAGR of 7.3%. Therma Bright is well-positioned to capitalize on this expanding market through strategic partnerships, timely reimbursements, and the increasing adoption of Venowave VW5. 'With strong distributor commitments, rapid reimbursement processing, and increasing patient demand, we anticipate significant revenue growth in 2025 and beyond,' added Rob Fia. Therma Bright remains committed to innovation, accessibility, and enhancing patient care as it scales its commercialization efforts for Venowave VW5 in the U.S. healthcare market. Disclaimers:CapitalGainsReport (CGR) is not operated by a licensed broker, a dealer, or a registered investment adviser. This content is for informational purposes only and is not intended to be investment advice. 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