Mr. Chien Huang reports

TITAN SETTLES CONTRACTUAL DISPUTE WITH CONTRACT MANUFACTURER

Titan Medical Inc. has entered into a settlement agreement with a contract manufacturer.

Titan has reached a settlement agreement in connection with a dispute with the contractor. Under the terms of the settlement, Titan has agreed to pay the contractor an aggregate of $2-million (U.S.), with the final payment instalment to be made on or before June 24, 2024. Upon receipt of the full $2-million (U.S.), the contractor will deliver the outstanding material, inventory and works-in-progress to Titan.

About Titan Medical Inc.

Titan Medical 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 while pursuing the completion of its agreed upon merger with Conavi Medical Inc.

We seek Safe Harbor.