Therma Bright announces up to $420K non-brokered private placement
Therma Bright (TBRIF) announced a proposed non-brokered private placement offering of up to 14M common shares at a price of $0.03 per share, aiming to raise gross proceeds of up to $420K.
In accordance with TSX Venture Exchange policies, the medical device developer is relying on a minimum pricing exception to issue securities below the standard $0.05 threshold.
Therma Bright plans to allocate the net proceeds from the financing across five main operational areas, led by $168K for clearing outstanding debt and funding general working capital, and $120K for an initial product manufacturing deposit.
The remaining funds will cover $50K for a consumer marketing analysis, up to $42K for investor relations activities, and $40K to reimburse expenses paid by management and address accrued salaries.
All securities issued under the offering carry a standard four-month-and-one-day statutory hold period, with closing remaining subject to final TSXV approval.
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