Toronto, Ontario--(Newsfile Corp. - July 9, 2020) - Therma Bright Inc. (TSXV: THRM), ("Therma Bright" or the "Company"), a progressive medical device technology company, is pleased to announce that it has completed due diligence and will move forward with closing of the asset purchase transaction with Saringer Life Science Technologies Inc. ("Saringer"). As previously reported on January 15, 2020 and April 8th, 2020, the Company entered a non-binding letter of intent ("LOI") to acquire Benepod®pain relief technology and other medical device related technology from Saringer. The terms as outlined in the press release issued on January 15, 2020 will remain the same in the definitive agreement.
More information about Saringer products can be found at:
https://www.saringer.com
The transaction will be subject to TSX Venture Exchange approval.
Rob Fia, CEO, commented:
"We are excited to move forward to close the transaction with Saringer and to add innovative, drug fee pain relief technology to our stable of products. Saringer's BenePod®technology is a proven pain relief technology that continues to have long life intellectual property. We expect to market BenePod® technology and Saringer's other products worldwide after the transaction closes."
About Therma Bright Inc.
Therma Bright is a progressive medical device technology company focused on providing consumers and medical professionals with quality medical devices that address their medical and healthcare needs. The Company's initial breakthrough proprietary technology delivers effective, non-invasive and pain-free skincare. 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 of a variety of insect bites or stings. The Company received clearance for the above claims from the US FDA in 1997.
Therma Bright Inc. trades on the TSXV (TSXV: THRM). For more information visit: www.thermabright.comand www.coldsores.com.
For further information, please contact:
Therma Bright.
Rob Fia, CEO
rfia@thermabright.com
FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as closing of the definitive agreement with Saringer Life Science Technologies Inc. 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. 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.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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