Titan Medical Inc. closes C$8.25 million public offering

Date Closed: 12/10/2010

Value: C$8.25 million

On December 10, 2010, Titan Medical Inc., a company focused on the development and commercialization of robotic surgical technologies, closed a public offering of 5,000,000 units at a price of $1.65 per unit, for gross proceeds of $8,250,000. Each unit consists of one common share and one common share purchase warrant. Each one common share purchase warrant is exercisable into one common share at a price of $1.85 per share, subject to adjustment, for a 5 year period following the closing of the offering.

Titan was represented in Canada by BLG, with a team led by Manoj Pundit and assisted by David Surat and Tal Cyngiser.