EARLY WARNING PRESS RELEASE - Purchase of Shares of Aurora Spine Corporation (TSXV: ASG)
October 23 2017 - 5:13PM
David Rosenkrantz of Etobicoke, Ontario and Chairman of the Board
of Aurora Spine Corporation (“Aurora Spine” or the “Company”)
(TSXV:ASG) announces the filing of an early warning report in
connection with a non-brokered private placement of the Company
(the “Offering”).
Pursuant to the Offering, Mr. Rosenkrantz
acquired an aggregate 1,250,000 common shares (the “Shares”) of the
Company, representing approximately 4% of the 30,867,247 issued and
outstanding common shares of the Company, for aggregate gross
proceeds of CAD156,250. Prior to the Offering, Mr. Rosenkrantz
owned or controlled 4,157,500 common shares, representing
approximately 14% of the issued and outstanding common shares.
Pursuant to applicable Canadian securities laws,
the Shares are subject to a four-month hold period that expires
February 21, 2018.
Following closing of the Offering, Mr.
Rosenkrantz will own or exercise control or direction over an
aggregate of 5,407,500 common shares, representing approximately
17.5% of the issued and outstanding common shares of the Company.
Mr. Rosenkrantz has indicated that his acquisition of shares under
the Offering is for investment purposes and that there were no
joint actors in connection with his purchase of the Shares. Mr.
Rosenkrantz may, in the future, increase or decrease his ownership
of securities of the Company, directly or indirectly, from time to
time depending upon market conditions or any other relevant factor.
The Shares were acquired by Mr. Rosenkrantz in reliance on the
accredited investor exemption, as provided in section 2.3 of
National Instrument 45-106.
Mr. Rosenkrantz’s acquisition of the Shares is
subject to certain conditions including, but not limited to, the
receipt of all necessary approvals, including the final approval of
the TSX Venture Exchange.
The participation of Mr. Rosenkrantz in the
Offering constitutes a related party transaction under Canadian
Multilateral Instrument 61-101 ("MI 61-101"), but is otherwise
exempt from the formal valuation and minority approval requirements
of MI 61-101.
This news release is being issued as required by
National Instrument 62-103. An early warning report with respect to
the purchase by Mr. Rosenkrantz has been filed on SEDAR and will be
available for review at www.sedar.com under the Company's
profile.
Aurora Spine Corporation 760-424-2004
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