Funding
Therma Bright Lifts Non-Brokered Private Placement to $500,000 With Shares at $0.03
By News Desk ·
Key takeaways
- Therma Bright increased its non-brokered private placement to up to $500,000.01 from an earlier target of up to $420,000.
- The offering covers up to 16,666,667 common shares at $0.03 each, issued under a TSXV minimum pricing exception.
- Proceeds include $120,000 for a manufacturing deposit, $50,000 for a consumer marketing analysis and $42,000 for investor relations activities.
Therma Bright Inc. increased its non-brokered private placement to up to $500,000.01, selling up to 16,666,667 common shares at $0.03 each, after interest came in above the previously announced offering of up to $420,000. Aktien published the announcement on November 13, 2026.
Therma Bright's Share Terms and Proceeds Plan
The offering follows the company's news release of October 23, 2026. Therma Bright is relying on a minimum pricing exception under TSX Venture Exchange policies to issue securities below $0.05 per listed security. The shares will be offered to qualified investors under exemptions from prospectus and registration requirements, and the company may pay finders' fees to eligible finders.
The company said it plans to use the proceeds for an initial deposit on product manufacturing of $120,000, a consumer marketing analysis of $50,000, investor relations activities of up to $42,000, reimbursement of management expenses and partial payment of accrued salaries of $40,000, and other outstanding debt plus general working capital of $248,000.
Directors and officers may take part in the offering, which would make it a related party transaction under Multilateral Instrument 61-101. Therma Bright said such participation is expected to be exempt from formal valuation and minority shareholder approval requirements because the fair market value of securities acquired by insiders and the consideration paid are not expected to exceed 25% of the company's market capitalization.
Therma Bright's Earlier Funding and Venowave Orders
Therma Bright's akta.pro company records list one funding round on record, a post-IPO equity round of $1 million dated May 2024. The same records show a first tranche of up to $1 million completed in June 2024, raising $854,500 through 85,450,000 units, with intended use including digital cough technology, management costs, investor relations and general working capital.
| Figure | Detail |
|---|---|
| $854,500 | First tranche of up to $1 million, June 2024 |
| $1 million | Post-IPO equity round, May 2024 |
| $420,000 | Earlier placement target, October 2026 |
| $500,000.01 | Increased placement target, November 2026 |
Debt Settlement and Prior Placement
On October 24, 2026, FinanzNachrichten.de reported that Therma Bright proposed a non-brokered private placement of up to 14,000,000 common shares at $0.03 per share, raising up to $420,000, with proceeds directed to manufacturing deposits, marketing analysis, investor relations and working capital.
In July 2026, Yahoo reported that Therma Bright issued 6,613,999 common shares at a deemed price of $0.06 per share to settle aggregate debt of $396,840. CEO Rob Fia received 4,349,999 shares in exchange for $261,000 in debt, raising his ownership from approximately 7% to 13.1%.
In June 2026, Newsfile reported that Horizon Health USA placed a new order for 100 Venowave units, bringing its total to 300 units within months, and that Gen-X Med ordered an additional 50 units.