THERMA BRIGHT ANNOUNCES AMENDMENTS TO INSTATIN & INVIXA ACQUISITIONS

About Therma Bright Inc.

Therma Bright is a key player in the development and partnership of cutting-edge diagnostic and medical device technologies. Focused on delivering innovative solutions, the company addresses crucial medical challenges for both consumers and professionals.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has unveiled updates to its acquisition plans concerning InStatin and InVixa, two innovative companies developing novel treatments for COVID-19, asthma, and chronic obstructive pulmonary disease (COPD). This strategic move underscores Therma Bright’s commitment to cutting-edge medical solutions.

Amended agreement details

The company has entered into an amended agreement with the Vendors, 2740162 Ontario Inc. (August Therapeutics) and Ketiko Bio Corp, securing a 25% interest in both InStatin, Inc. and InVixa, Inc. Therma Bright is set to issue 55,000,000 shares to the Vendors, reflecting the market price. In exchange, Ketiko will transfer 4,159,904 InVixa shares (equivalent to approximately 61% of the outstanding shares) and 520,000 InStatin shares (representing around 17% of outstanding shares). Additionally, an option grants Therma the right to purchase up to 577,386 additional InStatin shares for cash payments of up to $499,997.08.

Finder’s fee

As part of the acquisition process, Therma Bright will issue a finder’s fee, expected to consist of 3,472,222 shares in the company’s capital stock to an arm’s length finder who played a key role in facilitating the transaction.

TSX Venture exchange approval

The completion of this transaction remains contingent on the approval of the TSX Venture Exchange, a crucial step in Therma Bright’s strategic expansion.

About InVixa

InVixa focuses on developing inhaled statins to prevent and treat acute lung diseases caused by COVID-19. The company is dedicated to pioneering inhaled therapies for COVID-19 pneumonia and acute respiratory distress syndrome (ARDS). More information can be found at www.invixainc.com.

About InStatin

InStatin is dedicated to developing innovative treatments using inhaled statins for patients with chronic lung conditions such as asthma and COPD. Learn more about their initiatives at www.instatininc.com.

 

 [Disclaimer: This article is for informational purposes only and should not be construed as financial or investment advice. Any investment involves risks, and individuals should carefully consider their investment decisions. The content of this article does not constitute an offer or solicitation to buy or sell any securities. Readers should consult with their financial advisor or conduct their own research before making investment decisions.]


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