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

(TSXV:THRM) (OTCQB:TBRIF) (FSE:JNX0) Therma Bright Inc. announced a proposed non-brokered private placement of up to 14,000,000 common shares at a price of $0.03 per share for total proceeds of up to $420,000. The company is relying on a minimum pricing exception under TSXV policies to issue securities at less than $0.05 per listed security. The intended use of proceeds includes an initial deposit for manufacturing products ($120,000), completion of a consumer marketing analysis ($50,000), payment to persons conducting Investor Relations Activities (up to $42,000), reimbursement of expenses and partial payment of accrued salaries to management ($40,000), and payment of other outstanding debt and general working capital ($168,000). The shares will be offered to qualified investors under exemptions from prospectus and registration requirements. Therma Bright may pay finders' fees to eligible finders in connection with the offering, subject to compliance with applicable securities laws and TSXV policies. Directors and officers may participate in the offering, which will constitute a related party transaction under MI 61-101, but such participation is expected to be exempt from formal valuation and minority shareholder approval requirements as neither the fair market value of the securities acquired nor the consideration paid is expected to exceed 25% of the company's market capitalization. All securities issued will be subject to a hold period of four months and one day from issuance. Completion of the offering and payment of any finders' fees are subject to all necessary regulatory approvals, including TSXV approval. The securities have not been and will not be registered under the United States Securities Act of 1933 or any U.S. state securities laws, and may not be offered or sold in the United States or to U.S. persons without registration or an exemption.

Gentherm Reports 2026 Third Quarter Results

(NASDAQ:THRM) Gentherm announced its financial results for the third quarter ended September 30, 2026. The company secured Automotive New Business Awards totaling $555 million in the quarter. Gentherm launched the ThermAffyx™ Patient Safety System and Puls.A™ during the period. Product revenues were $405.1 million, up 4.7% from $386.9 million in the prior year; excluding foreign currency translation, product revenues increased 4.4%. Automotive Climate and Comfort Solutions revenue increased 8.8% year over year, or 8.5% excluding foreign currency translation, outperforming S&P Global’s mid-October light vehicle production report in relevant markets by 12 percentage points. Gross margin was 23.3%, compared to 24.6% in the prior year, with the decrease attributed to foreign exchange, higher net material costs, and inflation, partially offset by strong operating leverage. Net (loss) income was $(2.6) million, compared to $14.9 million in the prior year. Adjusted EBITDA was $45.0 million, or 11.1% of revenue, compared to $49.0 million, or 12.7% of revenue, in the prior year. GAAP diluted (loss) earnings per share was $(0.08), compared to $0.49 in the prior year. Adjusted diluted earnings per share was $0.33, compared to $0.73 in the prior year. Cash flow from operations was $36.0 million, compared to $87.8 million in the prior year. Adjusted free cash flow was $59.5 million, compared to $72.3 million in the prior year. The company updated its full year 2026 guidance to reflect the expected contribution from Modine Performance Technologies in the fourth quarter. As of October 2026, product revenues are guided to $1.825 billion to $1.925 billion, adjusted EBITDA to $210 million to $230 million, and adjusted free cash flow to $100 million to $120 million. On July 1, Gentherm acquired Innovative Medical Equipment, LLC, provider of the ThermaZone® thermal therapy device. On October 1, the company completed its combination with Modine’s Performance Technologies business. On October 7, Gentherm returned $63.5 million to shareholders through a special cash dividend of $2.07 per share as part of the Modine transaction. In July, the Board of Directors authorized a new stock repurchase program of up to $400 million of the company’s issued and outstanding common stock. Following the closing of the Modine transaction in October, Gentherm repurchased $60 million of common stock, with approximately $340 million of stock repurchase authorization remaining as of the date of the release. The third quarter ended with net leverage of approximately 0.4x and liquidity of $494.2 million. Bill Presley is the President and CEO of Gentherm. Jon Douyard is the Chief Financial Officer. The company held a conference call on the day of the release to review these results.

Therma Bright Inc. Completes Debt Settlements

(TSXV:THRM, OTCQB:TBRIF) Therma Bright Inc. announced it has issued an aggregate of 6,613,999 common shares at a deemed price of $0.06 per share to settle aggregate debt of $396,840. All shares issued in relation to these debt settlements are subject to a hold period expiring November 30, 2026, in accordance with applicable securities laws and TSXV Policies. Certain directors and officers participated in the debt settlement transactions and received an aggregate 4,699,999 shares in consideration for settlement of an aggregate of $282,000 debt. Rob Fia, the CEO, President and a director of the Company, received 4,349,999 shares in settlement of $261,000 debt. Prior to the issuance, Mr. Fia owned or controlled 4,257,287 shares of the Company representing approximately 7% of the outstanding Therma shares, and upon receipt of the debt settlement shares, he now owns or controls 8,607,286 shares, representing approximately 13.1% of the outstanding Therma shares on a non-diluted basis. On a partially diluted basis (assuming the exercise of all 1,566,375 stock options held by Mr. Fia), Mr. Fia would have ownership and control over approximately 15.1% of the then issued Therma shares. The company states that forward-looking statements in the news release relate to future events and involve substantial known and unknown risks, uncertainties and other factors.

Therma Bright Announces Expanded U.S. Orders for Venowave and Mobilizes Supply Chain for Upcoming Sales Volume

(TSXV: THRM) (OTCQB: TBRIF) Therma Bright Inc. announced continued sales momentum for its Venowave mobile compression device in the United States, with Horizon Health USA placing a new order for 100 Venowave units. This brings Horizon's total orders to 300 units within just months of their initial adoption. Gen-X Med has also placed a follow-on order for 50 Venowave units. Therma Bright is actively organizing and streamlining its manufacturing logistics for the next phase of bulk component reordering. The company has negotiated debt settlements with arm's length and non-arm's length creditors, proposing to settle aggregate debt of $396,840 by issuing 6,614,000 common shares at a deemed price of $0.06 per share. Directors and officers will receive 4,700,000 shares in settlement of $282,000 debt. The company projects it will ensure a seamless supply chain to support both current and pipeline orders.

Therma Bright Announces Follow-On Order from Horizon Health as Venowave(TM) Gains Traction in U.S. Vascular Markets

Therma Bright Inc. (TSXV: THRM, OTCQB: TBRIF) announced that Horizon Health has purchased an additional 100 Venowave™ units, following the initial 100-unit shipment delivered in late March 2026. Horizon Health's decision to double its initial commitment highlights strong demand for the Venowave™ mobile compression device among its vascular patient population. Horizon Health currently moves over 35,000 compression products annually, and both companies are working to support a projected increase in order sizes. The Venowave™ device is reimbursable in the United States through Medicare with permanent HCPCS code, E0683. This development is significant for investors as it establishes a foundation for a potential long-term revenue stream.