Mr. Chien Huang reports

TITAN PROVIDES UPDATE ON PLANNED MERGER WITH CONAVI

Titan Medical Inc. has provided this update on its planned merger with Conavi Medical Inc., as previously announced on March 18, 2024.

As previously announced, Titan has entered into a definitive amalgamation agreement dated March 17, 2024, with Conavi Medical, providing for the combination of the companies in an all-stock transaction. The combined company will focus on continuing to commercialize Conavi's Novasight Hybrid system designed to guide common minimally invasive coronary procedures.

Titan and Conavi continue to work toward the satisfaction of the conditions to completion of the transaction set forth in the amalgamation agreement, including the parties' work currently under way in respect of the following:

• Preparation of submissions to the TSX Venture Exchange in connection with Titan's planned applications for the listing of its common shares on the TSX Venture Exchange, and its delisting from the Toronto Stock Exchange, and for TSX-V approval of the transaction;
• Completion of Titan's management information circular and related documents in connection with Titan's annual and special meeting, at which Titan's shareholders will be asked to approve the transaction and other related matters; and
• Conavi's efforts in connection with a concurrent financing of subscription receipts (convertible into Conavi shares immediately prior to completion of the transaction), the terms of which will be announced at a later date, for minimum gross proceeds of $15-million (U.S.) up to a maximum of $20-million (U.S.).

About Titan Medical Inc.

Titan Medical, a medical technology company incorporated under the Business Corporations Act (Ontario) and headquartered in Toronto, Ont., 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.