NurExone Announces Securities for Debt Settlement

November 24, 2022 7:17 PM EST | Source: NurExone Biologic Inc.

Calgary, Alberta--(Newsfile Corp. - November 24, 2022) - NurExone Biologic Inc. (TSXV: NRX) (formerly, EnerSpar Corp. or "EnerSpar") (the "Company" or "NurExone"), a biopharmaceutical company developing biologically-guided exosome therapy for patients with traumatic spine injuries, is announcing today that it has agreed to settle debts in the amount of CAD$46,523.69 with the issuance of 122,430 common shares of the Company at a deemed price of CAD$0.38 per share.

These debts were incurred prior to the recent Reverse Takeover Transaction following which NurExone began trading under the new name "NurExone Biologic Inc." with the trading symbol "NRX". The common shares will be issued upon acceptance by the TSX Venture Exchange. The common shares issued will be subject to a four-month plus one-day hold period pursuant to the policies of the TSX Venture Exchange.

About NurExone Biologic Inc.
NurExone Biologic Inc. is a TSXV listed pharmaceutical company that is developing a platform for biologically-guided ExoTherapy to be delivered non-invasively to patients who have suffered traumatic spinal cord injuries. ExoTherapy was conceptually demonstrated in animal studies at the Technion, Israel Institute of Technology. NurExone is transferring the treatment to humans, and the company holds an exclusive worldwide license from the Technion for development and commercialization of the technology.

Dr. Lior Shaltiel
Chief Executive Officer and Director

Investor Relations
+1 905-347-5569

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.

This press release contains certain forward-looking statements, including statements about the Company's future plans and intentions and completion of the shares for debt transaction. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements including, but not limited to, the Company satisfying the conditions for TSX Venture Exchange approval of the shares for debt transaction herein. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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