Titan Medical Annual and Special Meeting Scheduled for Wednesday, May 29, 2019
May 22 2019 - 5:15PM
Business Wire
Titan Medical Inc. (“Titan” or the “Company”) (TSX: TMD)
(Nasdaq: TMDI), a medical device company focused on the design,
development and commercialization of a robotic surgical system for
application in single-port minimally invasive surgery
(“MIS”), announces that its 2019 Annual and Special Meeting
is scheduled for Wednesday, May 29, 2019 at 12:00 p.m. (Eastern),
to be held at the Toronto Hilton Hotel, 145 Richmond Street West,
Simcoe Room, Main Lobby.
Items to be presented and voted on at this year’s Annual and
Special Meeting include the following:
- Presentation of the audited financial
statements of the Corporation for the fiscal year ended December
31, 2018,
- the election of directors of the
Corporation for the ensuing year;
- the appointment BDO Canada LLP as the
auditor of the Corporation and authorization of the directors to
fix the remuneration of the auditors;
- the adoption of a share unit plan and a
deferred share unit plan of the Corporation and the reservation of
common shares for issuance pursuant to each plan;
- increasing the Corporation’s stock
option plan (the “Option Plan”) from a rolling 10% plan to a
rolling 15% plan; and
- the amendment of the exercise prices of
options granted to executive officers and other employees who are
insiders of the Corporation under the Option Plan to the higher of
the March 21, 2019 offering price of US$3.40 and the five day
volume-weighted average price determined as of the close of
business on May 28, 2019 (“Exercise Price Amendment”). As
the Exercise Price Amendment constitutes a “related party
transaction” as such term is defined in Multilateral Instrument
61-101. The Company intends to rely on the exemption from the
“minority approval” requirement of MI 61-101 set forth in section
5.7(a) of MI 61 101, as the fair market value of the Exercise Price
Amendment does not exceed 25% of the market capitalization of the
Company. The expiry dates of the options subject to the Exercise
Price Amendment are not being amended, and the range of option
expiry dates are set forth in the management information circular
dated April 29, 2019.
“We look forward to this year’s Annual and Special Meeting and
encourage shareholders to attend the meeting and vote in person or
to duly complete and deliver their proxies in advance of the
meeting”, commented David McNally, Chief Executive Officer.
About Titan Medical
Titan Medical Inc. is focused on computer-assisted robotic
surgical technologies for application in MIS. The Company is
developing the SPORT Surgical System, a single-port robotic
surgical system comprised of a surgeon-controlled patient cart that
includes a 3D high-definition vision system and multi-articulating
instruments for performing MIS procedures, and a surgeon
workstation that provides an advanced ergonomic interface to the
patient cart and a 3D endoscopic view inside the patient’s body.
Titan intends initially to pursue focused surgical indications for
the SPORT Surgical System, which may include one or more of
gynecologic, urologic, colorectal or general abdominal
procedures.
For more information, please visit the Company’s website at
www.titanmedicalinc.com.
Forward-looking statements of Titan medical Inc.
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 29, 2019 (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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190522005815/en/
LHA Investor RelationsKim Sutton Golodetz(212)
838-3777kgolodetz@lhai.comorBruce Voss(310)
691-7100bvoss@lhai.com
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