Titan Medical Reports Voting Results From Annual General Meeting of Shareholders

TORONTO, Ontario, July 04, 2023 (GLOBE NEWSWIRE) -- Titan Medical Inc. (“Titan” or the “Company”) (TSX: TMD; OTC: TMDIF), a medical technology company, today announced the voting results from the Company’s Annual General Meeting of its shareholders held on June 30, 2023.

All of management’s nominees for election were duly elected as directors of the Company by the shareholders presented or represented by proxy at the meeting. A total of 56,441,386 of the 112,842,297 common shares outstanding, or 50.02% were voted at the meeting. The results of the vote were reported to the meeting by Computershare, which acted as scrutineer at the meeting and were as follows:

Directors Votes For % Votes Withheld %
Paul Cataford 19,958,078 71.70 7,878,054 28.30
Anthony J. Giovinazzo 21,660,514 77.81 6,175,618 22.19
Cary G. Vance 18,725,287 67.27 9,110,845 32.73
Cathy Steiner 21,982,587 78.97 5,853,546 21.03

The appointment of BDO Canada LLP as independent auditors of the Company was approved by the shareholders (with 49,752,695 votes for and 6,688,691 votes withheld) in respect of the motion.

About Titan Medical

Titan Medical Inc. (TSX: TMD; OTC: TMDIF), a medical technology company headquartered in Toronto, Ontario, has developed an expansive patent portfolio related to the enhancement of robotic assisted surgery (RAS), including through a single access point, and is currently focused on evaluating new opportunities to further develop and license its intellectual property.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws, which reflect the current expectations of management of the Company’s future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements are frequently, but not always, identified by words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “potential for” and similar expressions, although these words may not be present in all forward-looking statements. Forward-looking statements that appear in this release may include, without limitation, references to: the Company evaluating new opportunities to further develop and license its intellectual property and to generate revenue; validation of the importance and value of our patent portfolio; the Company continuing to manage its payables, and its expectation to meet its projected obligations well into 2024; the Company’s exploring opportunities for the sale of its testing and manufacturing equipment; the Company’s exploration of opportunities for a Business Combination; placement of the Company on a much stronger financial footing; and the Company’s dedication to continued shareholder engagement and the upcoming annual meeting.

These forward-looking statements reflect management’s current beliefs with respect to future events and are based on information currently available to management that, while considered reasonable by management as of the date on which the statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements. Forward-looking statements involve significant risks, uncertainties and assumptions and many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Such factors and assumptions include, but are not limited to, the Company’s ability to retain key personnel; its ability to execute on its business plans and strategies, including the Strategic Transition; its ability to continue to license some or all its intellectual property to third parties and receive any material consideration and other factors listed in the “Risk Factors” section of the Company’s Annual Information Form for the fiscal year ended December 31, 2022 (which may be viewed at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements.

Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions and the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, investors should not place undue reliance on forward-looking statements. All the forward-looking statements are expressly qualified by the foregoing cautionary statements.

Chien Huang
Chief Financial Officer


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Source: Titan Medical Inc.