AURORA SPINE CORPORATION ANNOUNCES AMENDMENT TO LOAN FROM INSIDER
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Carlsbad, California, March 04, 2026 (GLOBE NEWSWIRE) -- Aurora Spine Corporation ("Aurora Spine" or the "Company") (TSXV: ASG) (OTCQB: ASAPF) announced today this it has amended an existing loan (the "Loan") in the principal amount of US$1,600,000 plus accrued and unpaid interest in the amount of US$1,249,500 from an insider of the Company. The Company has been using the Loan proceeds for general corporate purposes.
The Loan, evidenced by a promissory note (the "Note") bears interest at 9% per annum. The Amendment reduces the interest rate to 4.5% per annum effective January 1, 2026. If an Event of Default occurs and continues, the outstanding balance of the Note, including all accrued and unpaid interest, will bear interest at a rate of Twelve Percent (12%) per annum, or at the maximum rate of interest under applicable law. The Principal Amount together with interest thereon, was due on the Maturity Date of June 29, 2027. The parties have agreed to extend the Maturity Date to July 11, 2029. The parties also agreed that upon a Change of Control of the Company, the Maturity Date will be accelerated, and the Note will be due and payable in full, upon written request from the Holder. The Company may prepay the outstanding principal amount and accrued and unpaid interest thereon, in whole or in part, at any time without penalty. The Company's wholly owned subsidiary, Aurora Spine, Inc., continues its guarantee and security for the obligations of the Company under the Note.
The Loan constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and the policies of the TSX Venture Exchange but is otherwise exempt from the formal valuation and minority approval requirements of MI 61-101. The Company was not in a position to file a material change report more than twenty-one days in advance of the completion of the Loan.
The Loan is subject to certain conditions including, but not limited to, the receipt of all necessary approvals.
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 release.
About Aurora Spine
Aurora Spine Corporation (TSXV: ASG) (OTCQB: ASAPF) is an innovative designer and manufacturer of minimally invasive spinal implants and interventional pain management technologies. Headquartered in Carlsbad, California, the company’s mission is to improve spinal surgery outcomes through simplified, integrated, and cost-effective solutions that advance patient care worldwide.
Additional information can be accessed at -spine.com or
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.
Forward-Looking Statements
This news release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). Forward-looking statements include, but are not limited to, statements regarding the manner and timing of repayment of the Loan.
Forward-looking statements are based on management’s current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking statements. Aurora Spine undertakes no obligation to update or revise any forward-looking statement, except as required by applicable securities laws.
Company and Investor Contacts
Aurora Spine Corporation
Trent J. Northcutt
President and Chief Executive Officer
Phone: (760) 424-2004
Chad Clouse
Chief Financial Officer
Phone: (760) 424-2004
Investor Relations
Adam Lowensteiner
Lytham Partners
Phone: (646) 829-9702
Email:
