Therma Bright Announces Expanded U.S. Orders for Venowave and Mobilizes Supply Chain for Upcoming Sales Volume

Executive Summary

• Therma Bright announced continued sales momentum for its Venowave mobile compression device, securing follow-on orders from Horizon Health USA (100 units) and Gen-X Med (50 units).
• The company negotiated debt settlements totaling $396,840, proposing to issue 6,614,000 common shares at $0.06 per share, pending TSX Venture Exchange approval.
• Directors and officers will receive 4,700,000 shares to settle $282,000 of the debt, structured as a related party transaction exempt from standard minority shareholder approval requirements.

Key Details

• Horizon Health USA placed a new order for 100 Venowave units, bringing their cumulative orders to 300 units within months of initial adoption.
• Gen-X Med placed a follow-on order for 50 Venowave units, expanding commercial traction across distinct U.S. medical distribution networks.
• Therma Bright is actively streamlining manufacturing logistics and initiating bulk component reorders to support current and pipeline demand.
• Debt settlement terms: $396,840 in aggregate debt will be settled for 6,614,000 common shares at a deemed price of $0.06 per share.
• Shares issued under the debt settlement arrangement will be subject to a hold period of four months and one day from the date of issuance.
• Directors and officers will receive 4,700,000 shares in consideration for settling $282,000 of the aggregate debt.
• The director/officer participation constitutes a related party transaction under Multilateral Instrument 61-101, exempt from formal valuation and minority shareholder approval requirements as the company is not listed on specified exchanges and the fair market value of distributed securities is not expected to exceed 25% of market capitalization.
• The debt settlement proposal is subject to acceptance by the TSX Venture Exchange.

Notable Quotes

• Rob Fia, CEO: "The positive order history from Horizon Health is a tremendous validation of Venowave's utility and market fit. Seeing a premier distributor repeatedly double down on their inventory proves that patients and clinicians are getting real value. Furthermore, Gen-X Med's additional order of 50 units shows that our traction is expanding into new channels. We are now aggressively managing our manufacturing logistics to ensure we are fully prepared for the next wave of reorders and upcoming sales volumes."