Therma Bright Extends Closing to Acquire Benepod(R) Pain Relief Technology and Other Medical Device Technology from Saringer Life Science Technologies Inc.
Toronto, Ontario--(Newsfile Corp. - April 8, 2020) - Therma Bright Inc. (TSXV: THRM), ("Therma Bright" or the "Company"), a progressive medical device technology company, has agreed to extend the closing of the asset purchase transaction with Saringer Life Science Technologies Inc. ("Saringer"). As previously reported on January 15, 2020 the Company entered into a non-binding letter of intent ("LOI") to acquire Benepod® pain relief technology and other medical device related technology from Saringer.
Despite the difficulties being faced during the current Covid-19 pandemic crisis, Therma has agreed with Saringer to extend the period to complete due diligence, prepare definitive agreements and conclude the asset purchase on or about July 31, 2020. The terms as outlined in the press release issued on January 15, 2020 will remain the same.
More information about Saringer products can be found at:
The transaction will be subject to TSX Venture Exchange approval.
Rob Fia, CEO, commented:
"The Covid-19 crisis has created a difficult environment to conclude the transaction between Therma and Saringer on our original timeline. We continue to believe that Saringer is an attractive acquisition as Saringer's BenePod® technology is a proven pain relief technology saving Therma extensive time and expense related to design, quality management implementation and IP protection.
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 and healthcare 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.
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Therma Bright Inc.
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 acquisition of the Saringer products, 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 protect all or any of the patents 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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54266