Therma Bright plans $420,000 non-brokered private placement

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX0) announced a proposed non-brokered private placement of up to 14,000,000 common shares at $0.03 per share, for total proceeds of up to $420,000.

The company is relying on a minimum pricing exception under TSX Venture Exchange policies, which permits the issuance of securities at below $0.05 per listed security.

According to the press release, the intended use of proceeds includes a $120,000 initial deposit for product manufacturing, $50,000 for a consumer marketing analysis, up to $42,000 for investor relations activities, $40,000 for reimbursement of management expenses and partial payment of accrued salaries, and $168,000 for outstanding debt and general working capital.

Directors and officers may participate in the offering, which would constitute a related party transaction under Multilateral Instrument 61-101. The company expects such participation to be exempt from formal valuation and minority shareholder approval requirements, as the value of securities involved is not expected to exceed 25% of the company's market capitalization.

All shares issued under the offering will be subject to a hold period of four months and one day from issuance. The offering remains subject to regulatory approval, including from the TSX Venture Exchange. Finders' fees may be paid to eligible finders, subject to applicable securities laws.

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