TIDMTSP

RNS Number : 7584E

TruSpine Technologies PLC

31 October 2022

TruSpine Technologies plc

("TruSpine" or the "Company")

Update

TruSpine Technologies plc (AQSE: TSP), the medical device company focused on the development of its pioneering "screwless," spinal (vertebral) stabilisation systems announces that the Company has been approached with an equity funding package which would provide the Company with additional working capital. The board is consulting with its advisers on the proposal and a further announcement will be made in due course.

Further to the announcement of 30 September 2022, the Company's financial position remains weak and the Company has been urgently seeking alternative sources of finance as it is important that additional funding is secured in the near term in order to allow the Company to continue operating. The Company continues to carefully manage its working capital position.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Enquiries:

 
 Truspine Technologies Plc                        Tel: +44 (0)20 3638 5025 
 Ian Roberts, CEO 
 
 Cairn Financial Advisers LLP (AQSE Corporate          Tel: +44 (0)20 7213 
  Adviser)                                                            0880 
 Liam Murray / Ludovico Lazzaretti 
 
   Oberon Capital (Joint Broker)                  Tel: +44 (0)20 3179 5300 
 Mike Seabrook / Chris Crawford 
 Peterhouse Capital Limited (Joint                Tel: +44 (0)20 7469 0930 
  Broker & Financial Adviser) 
  Lucy Williams / Duncan Vasey 
 
 Walbrook PR (Financial                   Tel: +44 (0) 20 7933 7870 or +44 
  PR & IR)                                                (0) 7876 741 001 
 Anna Dunphy                                       truspine@walbrookpr.com

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi ed by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

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END

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(END) Dow Jones Newswires

October 31, 2022 07:34 ET (11:34 GMT)

TruSpine Technologies (AQSE:TSP)
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