Business
Therma Bright Announces Completion of Debt Settlements
Toronto, Ontario--(Newsfile Corp. - February 16, 2018) - Therma Bright Inc. (TSXV: THRM) ("The...
About this update from Therma Bright Inc.
[{"type":"text","content":"Therma Bright Announces Completion of Debt SettlementsToronto, Ontario--(Newsfile Corp. - February 16, 2018) - Therma Bright Inc. (TSXV: THRM) (\"Therma Bright\" or the \"Company\"), a progressive medical device technology company, announces that further to its news release of January 17, 2018, it has now completed certain debt settlement transactions and issued an aggregate of 2,445,150 common shares to settle an aggregate of $244,515 debt. The settled debt included the issuance to 125,000 shares to Rob Fia, CEO and a director of the Company to settle $12,500 debt; 200,000 shares to Joseph Heng, a director of the Company, to settle $20,000 debt; and 375,000 shares to Tak Wing Law, the Company's CFO, to settle $37,500 debt. The debt settlements with Messrs. Fia Heng and Law are related party transactions as defined in Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is exempt from the formal valuation requirement and the shareholder approval requirement of MI 61-101.All of the shares issued pursuant to the debt settlement are subject to a four month hold period expiring on June 17, 2018.ABOUT THERMA BRIGHT:Therma Bright is a progressive medical device technology company focused on providing consumers with quality medical devices that address their dermatological needs.  Clear and healthy skin for all is at the core of Therma Bright's philosophy as is the belief that such outcomes should not be a privilege for only those who can afford costly procedures and treatments.  The Company's breakthrough proprietary technology delivers effective, non-invasive and pain free skin care. Therma Bright received a Class II medical device status from the FDA for its platform technology that is indicated for the relief of the pain, itch, and inflammation from over 20,000 different insect stings and bites, (including bees, wasps, hornets, mosquitoes, black flies and jellyfish). Therma Bright received approval for the above claims from FDA (United States) in 1997.Therma Bright Inc. trades on the (TSXV: THRM). For more information visit: www.thejenexcorporation.com or www.therozap.com. For further information please contact:Therma Bright Inc.Rob [email protected] FORWARD LOOKING STATEMENTSCertain statements in this news release...