Therma Bright Inc. announced a non-brokered private placement of up to 100,000,000 units at price CAD 0.01 per unit for gross proceeds CAD 1,000,000 on May 22, 2024. Each unit will be comprised of one common share in the capital of the Company and one-half non-transferable common share purchase warrant. Each full warrant will entitle the holder to purchase over three years one additional share at an exercise price of CAD 0.05 during the first year and CAD 0.10 during the second and third years.

The transaction is subject to accordance with the policies of the TSX Venture Exchange. The Offering is expected to close on or before June 7, 2024. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance.

Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.