Independent Proxy Advisor, Institutional Shareholder Services (“ISS”), Recommends Titan Shareholders Vote FOR the Amalgamation Between Titan and Conavi
September 16 2024 - 4:00PM
Titan Medical Inc. (“
Titan”) (TSX: TMD; OTC:
TMDIF) is pleased to announce that Institutional Shareholder
Services (“
ISS”), has released a report (the
"
ISS Report") recommending that Titan’s
shareholders ("
Shareholders") vote in favour of
the proposed amalgamation with Conavi Medical Inc. (the
“
Amalgamation”) to be approved by the Shareholders
at the annual general and special meeting of Titan to be held on
September 30, 2024 (the “
Meeting”).
As an independent proxy advisory firm, ISS has
approximately 3,400 clients including many of the world's leading
institutional investors who rely on ISS' objective and impartial
analysis to make important voting decisions.
In reaching its recommendation that Shareholders
vote FOR the Amalgamation ISS stated in their report:
“The proposed Amalgamation makes strategic sense
as it appears to represent the best alternative among the
opportunities available to improve the ability to increase
shareholder value, and it is anticipated the transaction will
enhance value for shareholders through ownership in a company with
growth potential, with an improved balance sheet, and is expected
to benefit from reduced listing requirements associated with
re-listing on the TSXV.
“We are pleased that after reviewing the
proposed business combination that ISS is recommending all
shareholders vote for the Amalgamation “said Paul Cataford, Titan’s
Interim CEO and Board Chairman. “This independent analysis and
recommendation further validates the Titan board’s unanimous
decision to recommend the Amalgamation transaction with Conavi
Medical Inc.”
VOTE TODAY
Don’t Delay. Your vote matters no matter how many shares
you own. Please vote by September 26, 2024 at 4:00 pm Eastern
Time.
Shareholder Questions and Assistance.
Shareholders who have any questions about the Meeting, or
require assistance with voting, may contact Shorecrest Group by
telephone at 1-888-637-5789 or +1-647-931-7454 (Bankers &
Brokers/collect calls outside North America) or by email at
contact@shorecrestgroup.com.
About Titan Medical
Titan Medical Inc. (TSX: TMD; OTC: TMDIF), a
medical technology company incorporated under the Business
Corporations Act (Ontario) and headquartered in Toronto, Ontario,
has developed an expansive patent portfolio related to the
enhancement of robotic assisted surgery (RAS), including through a
single access point, and is currently focused on evaluating new
opportunities to further develop and license its intellectual
property.
About Conavi Medical
Conavi Medical Inc. is a privately-owned company
focused on designing, manufacturing, and marketing imaging
technologies to guide common minimally invasive cardiovascular
procedures. Its patented Novasight Hybrid™ System is the first
system to combine both IVUS and OCT to enable simultaneous and
co-registered imaging of coronary arteries. The Novasight Hybrid
System has 510(k) clearance from the U.S. Food and Drug
Administration; and regulatory approval for clinical use from
Health Canada, China’s National Medical Products Administration,
and Japan’s Ministry of Health, Labor and Welfare. For more
information, visit http://www.conavi.com/.
Cautionary Statement Regarding
Forward-Looking Information
This news release contains “forward-looking
statements” within the meaning of applicable Canadian and U.S.
securities laws, which reflect the current expectations of
management of Titan’s future growth, results of operations,
performance and business prospects and opportunities.
Forward-looking statements are frequently, but not always,
identified by words such as “may”, “would”, “could”, “will”,
“anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”,
“potential for” and similar expressions, although these words may
not be present in all forward-looking statements. Forward-looking
statements that appear in this release may include, without
limitation, references to: regarding the Amalgamation,
including the anticipated timing of the Meeting, and other
statements that are not historical facts.
These forward-looking statements reflect
management’s current beliefs with respect to future events, and are
based on information currently available to management that, while
considered reasonable by management as of the date on which the
statements are made, are inherently subject to significant
business, economic and competitive uncertainties and contingencies
which could result in actions, events, conditions, results,
performance or achievements to be materially different from those
projected in the forward-looking statements. Forward-looking
statements involve significant risks, uncertainties and assumptions
and many factors could cause Titan’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. Such factors and assumptions
include, but are not limited to, Titan’s ability to retain key
personnel; its ability to execute on its business plans and
strategies; its ability to continue to license some or all its
intellectual property to third parties and receive any material
consideration; the receipt of required approvals from the TSXV and
Titan’s shareholders in connection with the Transaction or change
of listing or as to the success of Conavi’s Concurrent Financing
(or the terms upon which such financing may be available if at
all)and other factors listed in the “Risk Factors” section of
Titan’s Annual Information Form for the fiscal year ended December
31, 2023 (which may be viewed at www.sedarplus.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 and Titan has attempted to identify
important factors that could cause actual actions, events,
conditions, results, performance or achievements to differ
materially from those described in forward-looking statements,
Titan cannot assure prospective investors that actual results,
performance or achievements will be consistent with these
forward-looking statements. Except as required by law, Titan
expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise. Accordingly, investors
should not place undue reliance on forward-looking statements. All
the forward-looking statements are expressly qualified by the
foregoing cautionary statements.
ContactsTitan Medical
Inc. Chien
Huang Chief
Financial
Officer
investors@titanmedicalinc.com
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