Therma Bright Inc. — Capital/Financing Update 2021

Feb 1, 2021

FORM 51-102F3 MATERIAL CHANGE REPORT

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Name and Address of CompanyTherma Bright Inc.#132 – 1173 Dundas Street EastToronto, ON M4M 3P1Date of Material ChangeJanuary 29, 2021.News ReleaseA News Release dated and issued February 1, 2021, at Toronto, Ontario, through NewsfileCorp. and SEDAR.Summary of Material ChangeTherma Bright adds $1,171,875 to treasury through exercise of warrants and optionsFull Description of Material ChangeSee news release, a copy of which is attached hereto.Reliance on subsection 7.1(2) of National Instrument 51-102Not applicable.Omitted InformationNot applicable.Executive OfficerRob Fia, President & CEOTelephone: 416.722.4994Date of ReportFebruary 1, 2021

Therma Bright Adds $1,171,875 to Treasury Through Exercise of Warrants and Options

Toronto, Ontario--(January 29, 2021) – Therma Bright Inc. (TSXV: THRM) ("Therma" or the "Company"), a progressive medical device technology company, is pleased to announce that in the past month, investors have exercised a total of 7,582,500 warrants and options to add $1,171,875 to the Company’s treasury. With the addition of the $300,000, as previously reported in the press release on December 24[th] , 2020, the Company has added a total of $1,471,875 to the Company’s treasury through the exercise of warrants and options in the last month. These funds will be used to advance the development of the Company’s Covid-19 saliva-based rapid antigen test, SCV2, and for general working capital.

About Therma Bright Inc.

Therma Bright is a progressive medical device technology company focused on providing consumers and medical professionals with quality medical devices that address their medical and healthcare needs. The Company's initial breakthrough proprietary technology delivers effective, non-invasive and painfree skincare. 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 of a variety of insect bites or stings. The Company received clearance for the above claims from the US FDA in 1997.

Therma Bright Inc. trades on the TSXV: THRM, OTCMARKETS:THRBF, FRA:JNX. For more information visit: www.thermabright.com and www.coldsores.com

For further information, please contact: Therma Bright Inc. Rob Fia, CEO rfia@thermabright.com

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FORWARD LOOKING STATEMENTS

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as development and commercialization of a rapid COVID-19 viral assay and related instrumentation, manufacturing PPE and hand sanitizers and applying for government grants to support the Company's future performance. 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 forwardlooking 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 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 forwardlooking 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.