Titan Medical closes $1.67M second tranche of private placement

News Release

TITAN MEDICAL INC. ANNOUNCES SECOND CLOSING OF PREVIOUSLY ANNOUNCED PUBLIC OFFERING

Toronto, ON – (Marketwired – July 21, 2017) – Titan Medical Inc. (the “Company”) (TSX: TMD) (OTCQB: TITXF) is pleased to announce that it has completed the second closing (the “Second Closing”) of its previously announced public offering (the “Offering”) earlier today pursuant to an agency agreement (the “Agency Agreement”) dated June 26, 2017 between the Company and Bloom Burton Securities Inc. (the “Agent”).

The Agency Agreement provides that the offer and sale of units (“Units”) may be completed on one or more dates. The Company completed the first closing of the Offering and issued 48,388,637 Units for gross proceeds of CDN $7,258,296 on June 29, 2017 and earlier today, it completed the Second Closing of the Offering and issued an additional 11,117,000 Units for gross proceeds of CDN $ 1,667,550. The Company has raised combined gross proceeds under the Offering of CDN $8,925,846. Each Unit was issued at a price of CDN $0.15 per Unit and is comprised of one common share of the Company (a “Common Share”) and one warrant entitling the holder to purchase one Common Share at a price of CDN $0.20 until expiry on June 29, 2022. The net proceeds of the Offering will be used to fund continued development work in connection with the Company’s SPORT Surgical System, as well as for working capital and other general corporate purposes.

The Common Shares sold and issued in connection with the Second Closing will be listed and posted for trading on the Toronto Stock Exchange under the symbol TMD at the opening on July 21, 2017.

The Units were qualified for sale by way of a prospectus dated June 26, 2017 filed by the Company in the Provinces of British Columbia, Alberta and Ontario. The Units were also offered for sale in the United States through United States registered broker-dealers appointed by the Agent as subagents pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state laws.

About Titan Medical Inc.

Titan Medical Inc. is a Canadian public company focused on research and development through to the planned commercialization of computer-assisted robotic surgical technologies for application in minimally invasive surgery (“MIS”). The Company is currently developing the SPORT Surgical System, a single-port robotic surgical system. The SPORT Surgical System is comprised of a surgeon-controlled patient cart that includes a 3D high definition vision system and multi-articulating instruments for performing MIS procedures, and a surgeon workstation that provides the surgeon with an advanced ergonomic interface to the patient cart and a 3D endoscopic view inside the patient’s body during MIS procedures. With the SPORT Surgical System, the Company aims to pursue a broad set of surgical indications, including general abdominal, gynecologic and urologic procedures.

For more information, please visit the Company’s website at www.titanmedicalinc.com.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION
LHA Investor Relations
Kim Sutton Golodetz
(212) 838-3777
kgolodetz@lhai.com
or
Bruce Voss
(310) 691-7100
bvoss@lhai.com