Titan Medical completes public offering of US$3 million

On March 14, 2012, Titan Medical Inc. (Titan) closed its previously announced public offering of units and raised gross proceeds of $3,000,000 to fund continued research and development with regard to Titan’s robotic surgical system platform and for working capital and general corporate expenses. The units were offered and sold under Titan’s previously filed amended and restated short form base shelf prospectus and pursuant to an agency agreement with Octagon Capital Corporation acting as exclusive agent for the offering. Octagon Capital Corporation was advised in this transaction by Stephen Erlichman, John Sabetti and Amira Abouali (securities) and Mitchell Thaw (tax) of Fasken Martineau.