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Therma Bright Extends Closings of Financings

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Toronto, Ontario–(Newsfile Corp. – June 11, 2018) – Therma Bright Inc. (TSXV: THRM), (“Therma Bright” or the “Company“), a progressive medical device technology company, announces that it is extending the closing date of its previously announced equity financing of up to $2.5 million and convertible debenture financing of up to $1.5 million, for a further thirty (30) days from the date of this release. This extension will provide investors additional time to complete and deliver their subscriptions for the 2nd tranche closing of these financings (the 1st tranche closing having been press released on April 27, 2018). The Company intends the 2nd tranche closing to be completed as soon as possible within the next 30 days.

Therma Bright confirms that there is no material fact or material change about the Company that has not been generally disclosed.

Details of the equity private placement and convertible debenture offering were previously announced in Therma Bright’s press release dated April 19, 2018 and are also outlined below.

The equity financing is comprised of units of the Company (“Units“) at a price of $0.05 per Unit. Each Unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share for three years at a price of $0.05/share in the first year and thereafter at $0.10/share, subject to acceleration, at the option of the Company, in the event that its common shares trade at or above $0.13/share for 10 consecutive trading days following the date which is four months and one day from the closing date, and the Company has provided warrant holders with 30 days prior written notice of the accelerated warrant exercise date.

Three-year convertible debentures (“Debentures“) are also being offered to eligible investors in principal amounts of $1,000 per Debenture, with 8% interest payable thereon. A minimum of 12 months’ interest on the full principal amount will be payable, regardless of whether the Debenture is converted prior to such time. Subject to prior Exchange approval, interest may be paid in shares at the market price of the Company’s common shares at the time of conversion. The Debentures will be convertible into units of the Company at a conversion price of $0.05/unit if converted in the first year and thereafter at $0.10/unit. Each unit will be comprised of one common share and one-fifth (1/5) of one common share purchase warrant. Each whole warrant will be exercisable for one common share for a period of two years from the date of issue of the warrant at an exercise price of $0.05 if exercised on or before the date that is one year from the date of issuance of the Debenture or thereafter at an exercise price of $0.10. No fractional warrants will be issued, and such fraction will instead be rounded up or down to the nearest whole warrant, with 0.5 of a warrant being rounded up. The subscriber may convert the Debenture at any time until the maturity date. The Company may convert the Debenture on the earlier of, and at any time thereafter: (a) at any time after the date that is 12 months after the date of issue of the Debentures until the maturity date; and (b) the 16th day after the closing price of the Company’s common shares on the TSXV exceeds $0.075 for fifteen (15) consecutive trading days, provided such conversion date is at least six (6) months after the date of issue of the Debentures. Therma Bright may, at its option, subject to providing not more than 60 and not less than 30 days prior notice, redeem the Debentures in whole or in part.

In conjunction with both of these financings, the Company may pay a finder’s fee in cash, shares or warrants, or a combination thereof, to eligible persons, subject to and in compliance with regulatory policies.

Proceeds received from these financings will be used for general working capital.

Both financings are subject to TSX Venture Exchange approval.

About Therma Bright Inc.:

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 the Company’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). The Company received approval for the above claims from FDA (United States) in 1997.

Therma Bright Inc. trades on the TSXV (TSXV: THRM). For more information visit: www.thejenexcorporation.com or www.therozap.com.

For further information please contact:
Therma Bright Inc.
Rob Fia
CEO
rfia@thejenexcorporation.com

FORWARD LOOKING STATEMENTS

Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance and include the potential 2nd tranche closing of the equity financing and the debenture financing, all as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. In addition to other risks, the Company may not complete all or any of the transactions as described in this news on the timelines described. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES