Therma Bright Announces up to $420,000 Non-Brokered Private Placement

Toronto, Ontario–(Newsfile Corp. – October 23, 2026) – Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX0) (“Therma” or the “Company“), a developer and investment partner specializing in advanced medical device technologies, announces that it proposes to undertake a non-brokered private placement of up to 14,000,000 common shares (the “Shares“) at a price of $0.03/Share for total proceeds of up to $420,000 (the “Offering“). In accordance with the policies of the TSX Venture Exchange (“TSXV“), the Company is relying on a minimum pricing exception to issue securities at less than $0.05 per listed security.

The proposed use of proceeds from the Offering is: (i) to pay an initial deposit in relation to the manufacturing of products ($120,000); (ii) to complete a consumer marketing analysis ($50,000); (iii) to pay persons conducting Investor Relations Activities (up to $42,000); (iv) to pay outstanding amounts owing to management for reimbursement of expenses they paid on behalf of the Company and for partial payment of outstanding accrued salaries ($40,000); and (v) to pay other outstanding debt and to fund general working capital ($168,000).

The Shares will be offered to qualified investors in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The Company may pay finders’ fees to eligible finders in connection with the Offering, subject to compliance with applicable securities laws and the policies of the TSXV.

Directors and officers may participate in the Offering. Participation by directors and officers will constitute a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities that may be acquired by the insiders, nor the consideration for the securities that will be paid by such insiders, is expected to exceed 25% of the Company’s market capitalization.

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 are subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and such securities may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with the requirements of an exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction.

About Therma Bright Inc.

Therma Bright is a developer and investment partner specializing in advanced diagnostic and medical device technologies. The Company’s portfolio includes innovative solutions for vascular health, respiratory diagnostics, and topical treatments. Therma Bright is listed on the TSX Venture Exchange (THRM), the OTCQB (TBRIF), and the Frankfurt Stock Exchange (JNX0).

FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events. 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 such results will be achieved. Actual results could differ materially from those anticipated due to several 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 because 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.

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