TORONTO, Ontario, Oct. 23, 2017 (GLOBE NEWSWIRE) -- 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
