Financings
AURORA SPINE CORPORATION ANNOUNCES AMENDMENT TO LOAN FROM INSIDER

ASG · Price
Executive Summary
- Aurora Spine Corp. amended an existing insider loan, reducing the interest rate from 9% to 4.5% and extending the maturity date to July 11 2029.
- The principal amount remains US$1.6 million with accrued/unpaid interest of US$1,249,500; pre‑payment is permitted without penalty.
- The amendment triggers acceleration upon a change of control and is subject to TSX Venture Exchange related‑party transaction rules.
Key Details
- Original Loan: US$1,600,000 principal + US$1,249,500 accrued/unpaid interest.
- Interest Rate Change: 9% p.a. → 4.5% p.a., effective Jan 1 2026.
- Default Interest Rate: 12% p.a. (or maximum legal rate).
- Maturity Extension: From June 29 2027 to July 11 2029.
- Change‑of‑Control Clause: Maturity accelerates; loan becomes due upon holder’s written request.
- Prepayment Rights: Company may prepay any portion of principal and accrued interest at any time, penalty‑free.
- Guarantee: Aurora Spine, Inc., a wholly owned subsidiary, continues to guarantee the obligations.
- Related‑Party Status: Transaction qualifies as a “related party transaction” under MI 61‑101 but is exempt from formal valuation/minority approval requirements.
- Regulatory Note: Company could not file a material change report >21 days before completion; loan remains subject to required approvals.
Notable Quotes
(No direct quotes were provided in the release.)
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