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TORONTO, ON--(Marketwired - July 24, 2015) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Titan Medical Inc. ("Titan"
or the "Company"
) (TSX: TMD) (OTCQX: TITXF) today announced that it has filed a preliminary short form base shelf prospectus (the "Prospectus") with the securities regulatory authorities in Ontario, British Columbia and Alberta.
The Prospectus relates to the offering for sale from time to time, in one or more series or issuances, of common shares, warrants, units, preferred shares, and debt securities for gross proceeds of up to an aggregate of USD $45,000,000 during the 25 month period that the Prospectus, including any amendments to the Prospectus, remains effective. The type of securities to be distributed and the terms of each offering, if any, will be established at the time of the offering and described in a prospectus supplement filed with the securities regulatory authorities in connection with the offering.
The Company remains on track to meet its most recently published milestones and continues to prepare its SPORT™ Surgical System for use in expanded procedures within general surgery, gynecology, and urology. Additionally, the Company plans to manufacture eleven SPORT™ Surgical System units for engineering verification, first in human studies and clinical trials to support these milestones.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction.
About Titan Medical Inc.
Titan Medical Inc. is a Canadian public company focused on the design and development of a robotic surgical system for application in minimally invasive surgery ("MIS"). The Company's Single Port Orifice Robotic Technology, SPORT™ Surgical System, currently under development, is comprised of a surgeon-controlled robotic platform that includes a 3D vision system and interactive instruments for performing MIS procedures, and a surgeon workstation that provides the surgeon with an interface to the robotic platform for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient's body during MIS procedures. The SPORT™ Surgical System is being designed to expand robotic surgery into both simple and complex areas of surgical specialties and procedures that are currently under-serviced. It is also being designed to allow surgeons to perform procedures within small- to medium-size surgical spaces for general abdominal, gynecologic, and urologic indications. For more information, visit the Company's website at www.titanmedicalinc.com.
This news release contains "forward-looking statements" which reflect the current expectations of management of the Company's future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. 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, including, without limitation, those listed in the "Risk Factors" section of the Company's Annual Information Form dated March 31, 2015 (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, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements.Titan Medical Inc. John Hargrove Chairman & Chief Executive Officer (416) 548-7522 (ext. 151)NEXT ARTICLE
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