Titan Medical Gains Proxy Support for Conavi Amalgamation

Support from Proxy Advisors for Titan Medical

TORONTO, Ontario — Titan Medical Inc. (“Titan”) (TSX: TMD; OTC: TMDIF) is excited to share a significant recommendation from Glass Lewis. This independent proxy advisor has urged its clients to vote in favor of the amalgamation with Conavi Medical. This decision comes ahead of Titan's annual general and special meeting, where shareholders will consider this important proposal.

The Importance of Glass Lewis' Recommendation

Glass Lewis joins ISS as the second proxy advisory firm to endorse the amalgamation. Their recommendation highlights the careful consideration Titan has given to its restructuring and future direction. In their analysis, they emphasize that shareholders would benefit from remaining involved with a revitalized company that has prospects for innovative technology and additional financial resources.

Operational Restructuring and Strategic Focus

In its report, Glass Lewis recognized that Titan has faced operational and financial challenges. They noted the company's extensive efforts to restructure, including reducing costs, licensing its intellectual property, and exploring transactional alternatives. This strategic pivot comes after Titan decided to transition focus towards becoming a leader in intellectual property licensing as of June 2023.

Pursuit of the Amalgamation

Conavi Medical was identified as a promising partner in this process, culminating in a mutual agreement that reflects a thoughtful approach to Titan's future. The vital collaboration has the potential to combine resources and expertise, creating new opportunities for both companies.

Encouragement for Shareholder Participation

Paul Cataford, Titan's Interim CEO and Board Chairman, emphasized the importance of shareholder engagement in this decision-making process. He urged shareholders to vote as every single vote counts, especially as the deadline for submitting votes approaches. Cataford expressed hope that a wide base of shareholders would participate to influence the outcome positively.

Why the Amalgamation Matters

This amalgamation proposal promises not just to stabilize Titan's operations but also to unlock potential growth through enhanced resources and a broader technological framework. The partnership with Conavi Medical is poised to offer significant benefits, including access to up to C$20 million in financial backing, which could prove pivotal for future advancements.

Next Steps for Shareholders

Shareholders are reminded that the voting period is limited. The importance of participating in this process cannot be overstated. Votes must be cast by a specified deadline, encouraging shareholders to take action immediately.

Q&A Session for Stakeholders

To facilitate discussions, Titan is hosting a Shareholder Question and Answer session. This forum is an excellent opportunity for shareholders to voice concerns or ask for clarification on the amalgamation and its potential impact.

About Titan Medical Inc.

Titan Medical (TSX: TMD; OTC: TMDIF) focuses on advancing robotic-assisted surgical technology through innovations and a robust patent portfolio. The company aims to explore advanced opportunities to push the boundaries of surgical methodologies.

About Conavi Medical Inc.

Conavi Medical specializes in imaging technologies that play critical roles in minimally invasive procedures. Their leading solution, the Novasight Hybrid™ System, has gained numerous approvals, showcasing their commitment to enhancing cardiovascular procedures.

Frequently Asked Questions

What is the significance of the Glass Lewis recommendation?

The recommendation from Glass Lewis adds credibility to the amalgamation proposal, emphasizing its strategic benefits for Titan shareholders.

How will the amalgamation affect Titan's future?

The amalgamation is expected to strengthen Titan's financial position and bolster its developmental capabilities in robotic-assisted surgery technology.

What actions should shareholders take?

Shareholders should vote in favor of the amalgamation proposal before the specified deadline to ensure their voices are heard in this critical decision.

What is the deadline for voting?

The deadline for submitting votes is set for September 26, providing shareholders with limited time to participate.

How can shareholders get assistance with voting?

Shareholders can contact Shorecrest Group for assistance via telephone or email for any questions related to the voting process.

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