Business
Therma Bright Inc. to Establish Subsidiary for Cannabis Related Devices
Toronto, Ontario--(Newsfile Corp. - November 1, 2018) - Therma Bright Inc. (TSXV: THRM) (" The...
About this update from Therma Bright Inc.
[{"type":"text","content":"Therma Bright Inc. to Establish Subsidiary for Cannabis Related DevicesToronto, Ontario--(Newsfile Corp. - November 1, 2018) - Therma Bright Inc. (TSXV: THRM) (\"Therma Bright\" or the \"Company\"), a progressive medical device technology company announces that it will incorporate a 100% wholly owned subsidiary (the \"Subsidiary\") to hold device related technology for the application or use of medicinal or recreational marijuana. The Company plans to hold the pain relief device, as described in a press release on October 1st, and all related intellectual property developed for the pain relief device, in the Subsidiary. The pain relief device will incorporate the Company's thermal therapy technology and use pain relief formulations with medicinal cannabis and non-medicinal formulations in the form of creams, gels or salves. All research and administration of any medicinal cannabis will be dealt with through authorized and licensed research facilities.Over the last several weeks, Therma Bright has reviewed several device delivery systems for recreational or medicinal cannabis use such as advanced vaping pens for both the recreational and medicinal market, inhaler delivery systems for medicinal cannabis and other delivery system technology such as patches. In addition, the Company has reviewed personal home growing systems for the recreational market place. As a result of legalization of recreational cannabis in Canada on October 17, 2018, the Federal Government of Canada announced that households will be permitted to grow up to 4 plants for personal use. The target acquisitions see the advantage in working with Therma Bright as the Company has a strong understanding of public markets and regulatory requirements for device approvals with both Health Canada and the FDA, a wide breadth of expertise through management, the board of directors and the advisory team and an ISO 13485 quality management system in place. The products are either advanced and ready for sale or require additional development to complete development. The devices will either be sold through licensed producers, licensed recreational retail outlets or provincially managed sales entities across Canada or into International markets where medicinal or recreational cannabis is legal.Therma Bright management expects to review these device related opportunities and wil...