Investors

TruSpine Technologies plc, (AQSE: TSP) the medical device company focused on the development of its pioneering "screwless" spinal (vertebral) stabilisation systems, provides an update on its business collaborators and FDA application process, changes to the Company's board composition and the appointment of new public and investor relation advisers.

Company Update

Company has terminated a consultancy agreement with J Lees S Consultants LLC ("JLSC") through which, inter alia, the services of Frank Boehm were provided.  Mr Boehm was the inventor of the technologies behind Faci-LOK, Cervi-LOK and GRASP Laminoplasty systems.

The Company notes that Mr Boehm has made various claims about the validity and ownership of the Company's IP.  The Company confirms that it continues to hold the IP in relation the three non-invasive spine stabilisation products under development, as set out in the Admission Document dated 19 August 2020.

The Company is working towards making its FDA 510(k) application without further delay.

Board Changes

The Company announces that Martin Armstrong, Non-executive Chairman, has resigned from the Company with immediate effect.  The Board would like to take this opportunity to thank Martin for the work he has done with the Company over the years.

Further to the announcement of 28 February 2023, Laurence Strauss has today been appointed a director of the Company (Chief Executive Officer).  Further disclosures on Mr  Strauss as required pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook are included in the appendix below.

Laurence started his career in 1986 working in the City and built a private client broking business working for, inter alia, Allied Provincial and Elders Finance.  Laurence left the City in 1992, serving as a director of Longbrooke Electrical Ltd, an electrical contracting business and overseeing its expansion, following which he replicated the growth model in another business.  More recently, Laurence has been advising private clients on equity investments and initial public offerings.

Appointment of PR & IR advisers

The Board announces the appointment of Novus Communications Limited as its PR and IR adviser with immediate effect.

Appendix I

Save as set out below, no further information regarding Mr. Strauss is required to be disclosed pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook.

Mr. Laurence Richard Strauss (aged 56) has held the following current and former directorships within the past five years:

*Bentley Construction Limited ("Bentley") entered into compulsory liquidation on 16 January 2002 and the winding up was finalised on 24 March 2020. Mr. Strauss was appointed as a director of Bentley on 1 January 1995. In addition, Mr. Strauss was also a director of certain subsidiaries of Bentley, being:

• Bentley Bristol Ltd (appointed on 23 February 1993) entered into compulsory dissolution on 9 April 2002 during the directorship tenure of Mr. Strauss
• Bentley Maintenance Ltd (appointed on 23 February 1998) entered into compulsory dissolution on 10 July 2001during the directorship tenure of Mr. Strauss.
• Bentley Technical Services Ltd (appointed on 12 January 1999) entered into compulsory dissolution on 17 October 2000 during the directorship tenure of Mr. Strauss.

Mr. Strauss was a director of Longbrooke Electrical Installations Ltd from 12 March 2003 to 5 February 2011. A liquidator was appointed on 12 December 2006 to undertake a creditors voluntary liquidation which finalised in February 2011.

Mr. Laurence Strauss is beneficially interested in 100,000 ordinary shares in the Company.

There is no further information to be disclosed pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook.

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.

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Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.