AURORA SPINE CORPORATION ANNOUNCES AMENDMENT TO LOAN FROM INSIDER

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.)