News 2018-04-03 09:32 ET - News Release
Toronto, Ontario--(Newsfile Corp. - April 3, 2018) - Therma Bright Inc. (TSXV: THRM) ("Therma Bright" or the "Company"), a progressive medical device technology company, announces that further to its news releases on March 14, 2018 the Company has agreed to amend the definitive asset purchase agreement (the "Agreement') with the ICTV Brands group of companies, including ICTV Brands, Inc., pursuant to which it has agreed to acquire from the sellers the ClearTouch®nail phototherapy device (the "Nail Product") and the no!no! skin® phototherapy acne device (the "Acne Product", and together with the Nail Product, the "Purchased Products"), together with certain assets relating to the Purchased Products, but excluding any liabilities related thereto. The Purchased Products do not include any rights to the trademark or name "no!no!" or "no!no! skin". This transaction is an arm's length transaction.
The Company and ICTV are currently negotiating terms including a revised closing date and will report back once the amendment is signed. Therma management expects to negotiate more advantageous terms for the Company.
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