Toronto, Ontario – Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX), a player in advanced diagnostic and medical device technologies, announced today plans for a share consolidation, pending approval from the TSX Venture Exchange (TSXV). The company intends to consolidate its common shares at an eight-for-one ratio.
The move, according to Therma Bright, is designed to provide the company with greater flexibility in future financing and business transactions. Outstanding options, warrants, and other rights to acquire common shares will also be adjusted to reflect the consolidation.
Currently, Therma Bright has 451,632,147 common shares outstanding. Following the consolidation, and subject to rounding adjustments, the company anticipates approximately 56,454,018 shares will be in circulation. The company does not anticipate any changes to its name or trading symbol in connection with the consolidation.
The consolidation has been greenlit by the Board of Directors, operating under the company’s Articles of Incorporation, which allows for share consolidations up to a 10:1 ratio without requiring shareholder approval. Executives note that this is the only share consolidation undertaken in the past 24 months and that the cumulative consolidation ratio adheres to TSXV Policy 5.8.
About Therma Bright Inc.
Therma Bright is focused on the development of cutting-edge diagnostic and medical device technologies aimed at solving key healthcare challenges. The company’s stock is traded on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX).
Forward-Looking Statements
This press release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially. These statements relate to future events and the development of Therma Bright’s products and technology. Investors are cautioned not to place undue reliance on these statements, as they are not guarantees of future performance. Actual results may vary due to various factors and risks. Therma Bright disclaims any obligation to update these forward-looking statements except as required by securities regulations. The share consolidation is subject to all necessary approvals; failure to obtain these approvals could impact the plan.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this press release.
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