Aurora Spine Completes Private Placement
February 09 2018 - 4:58PM
THIS NEWS RELEASE IS INTENDED FOR
DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION
TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.
Aurora Spine Corporation (TSXV:ASG) ("Aurora Spine" or the
"Company") is pleased to announce that it has completed its
previously announced private placement of common shares ("Common
Shares"), pursuant to which the Company issued 9,265,000 common
shares at a price of CDN$0.10 per share for aggregate gross
proceeds of CDN$926,500 (the "Offering").
Certain directors or officers of the Company
participated in the Offering. The participation of any such
director or officer 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.
In connection with the Offering, the Company
paid aggregate cash commissions equal to CDN$29,490.
The net proceeds from the Offering will be used
for general working capital purposes.
All securities issued by Aurora Spine in
connection with this Offering are subject to a statutory four month
hold period. The Offering 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.
This news release does not constitute an offer
to sell, or a solicitation of an offer to buy, any of the
securities in the United States. The securities have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
About Aurora Spine
Aurora Spine is an early stage company focused
on bringing new solutions to the spinal implant market through a
series of screwless, innovative, minimally invasive, regenerative
spinal implant technologies. Aurora Spine continues to
position itself at the forefront of spinal surgery procedures,
focusing on minimally invasive spine surgery technologies.
Aurora Spine is changing spine surgery by focusing on disruptive
technologies following the Company’s commitment to – Simplifying
the Complex.
Forward-Looking Statements
This news release contains forward-looking
information that involves substantial known and unknown risks and
uncertainties, most of which are beyond the control of Aurora
Spine, including, without limitation, those listed under "Risk
Factors" and "Cautionary Statement Regarding Forward-Looking
Information" in Aurora Spine's final prospectus (collectively,
"forward-looking information"). Forward-looking information in this
news release includes information concerning the Offering and the
proposed use of proceeds of the Offering. Aurora Spine cautions
investors of Aurora Spine's securities about important factors that
could cause Aurora Spine's actual results to differ materially from
those projected in any forward-looking statements included in this
news release. Any statements that express, or involve discussions
as to, expectations, beliefs, plans, objectives, assumptions or
future events or performance are not historical facts and may be
forward-looking and may involve estimates, assumptions and
uncertainties which could cause actual results or outcomes to
differ unilaterally from those expressed in such forward-looking
statements. No assurance can be given that the expectations set out
herein will prove to be correct and, accordingly, prospective
investors should not place undue reliance on these forward looking
statements. These statements speak only as of the date of this
press release and Aurora Spine does not assume any obligation to
update or revise them to reflect new events or circumstances.
For more information, please contact:
Aurora Spine Corporation
Trent Northcutt President and Chief Executive Officer (760)
424-2004
Sarina Mason Chief Financial Officer (760) 424-2004
www.aurora-spine.com
Neither 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 release.
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