Date closed: 11/23/2015

Value: US$4 million

On November 23, 2015, Titan Medical Inc. (Titan) completed a private placement of 4,290,280 common shares of Titan (Common Shares) at a subscription price of C$1.23 per common share for gross proceeds of approximately US$4,000,000 (the Private Placement) with Longtai Medical Inc. (Longtai).  The Private Placement was completed pursuant to agreements entered into by Titan and Longtai, and announced by news release, on October 30, 2015 (collectively, the Agreement) and constitutes the first step toward a broader potential relationship between Titan and Longtai for establishing a market for Titan's SPORT™ Surgical System in China and the Asia Pacific region. The Company intends to use the net proceeds of the Private Placement for the continued development of the SPORT™ Surgical System, and for working capital and other general corporate purposes.

Titan, headquartered in Toronto, Ontario, is focused on the design and development of a robotic surgical system for application in minimally invasive surgery.

Longtai is the Canadian subsidiary of Ningbo Long Hengtai International Trade Co. Ltd., is an importer and distributor of high end medical devices for multinational companies.

BLG represented Titan with a team led by Manoj Pundit that included Andrew Bunston and Colin Cameron-Vendrig.