Mr. Paul Cataford reports

CONAVI MEDICAL SHAREHOLDERS APPROVE THE PROPOSED AMALGAMATION BETWEEN TITAN AND CONAVI

Conavi Medical Inc. has received the requisite shareholder approval required to proceed with the proposed combination of Titan Medical Inc. and Conavi in an all-stock transaction. This transaction will constitute a reverse takeover of Titan.

The Conavi shareholder approval of the amalgamation was obtained at a special meeting of its shareholders held on Sept. 26, 2024. One hundred per cent of the shares voted at the Conavi special meeting were voted in favour of the proposal to approve the amalgamation.

"We would like to thank our shareholders for their continued trust and support," commented Tom Looby, chief executive officer of Conavi. "This vote underscores their confidence in the amalgamation with Titan and the exciting commercial path we have set for the future of our proprietary Novasight hybrid system, the first technology platform to combine both IVUS [intravascular ultrasound] and OCT [optical coherence tomography] to enable simultaneous and co-registered imaging of coronary arteries."

"The completion of the Conavi shareholder approval is another important step in the process to close the transaction," said Paul Cataford, Titan's interim chief executive officer and board chairman. "Such a high approval for all shareholder resolutions is demonstrative of a high level of commitment and engagement for the shareholder base of a combined company."

The completion of the transaction remains subject to, among other things, satisfaction of the requirements in the TSX Venture Exchange's conditional approval letter and the closing conditions described in the amalgamation agreement, as amended, including completion of Conavi's concurrent private placement financing transaction and the approval of Titan's shareholders.

As previously announced on Sept. 16, 2024, and Sept. 19, 2024, independent proxy advisers Institutional Shareholder Service (ISS) and Glass Lewis & Co. have recommended that Titan's shareholders vote for the amalgamation.

Titan shareholder meeting

Titan will hold its annual general and special meeting of shareholders on Sept. 30, 2024, at 4 p.m. Eastern Time, by audio webcast. Shareholders of record as of Aug. 26, 2024, will have the ability to vote and to participate in the virtual meeting as explained in the joint management information circular in respect of the transaction dated Aug. 30, 2024, and which may be viewed on SEDAR+.

This vote is important. Shareholders will be asked to approve the transaction. Closing of the transaction will provide shareholders the opportunity to participate in a new venture with strong institutional backing, newly invested cash, new management, new products and new technology. Closing of the transaction is conditional on the approval of all resolutions by Titan shareholders.

Titan shareholders are encouraged to review the circular carefully and to vote in advance of the voting deadline of 4 p.m. Eastern Time on Sept. 26, 2024.

Shareholder questions

Shareholders are reminded that a webcast archive of the shareholder question-and-answer session, which took place on Sept. 19, 2024, is accessible on-line.

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 by e-mail at contact@shorecrestgroup.com.

Vote today

Do not delay. Your vote matters no matter how many shares you own. Please vote by 4 p.m. Eastern Time today.

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.

About Conavi Medical Inc.

Conavi Medical 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; as well as regulatory approval for clinical use from Health Canada, China's National Medical Products Administration, and Japan's Ministry of Health, Labor and Welfare.

We seek Safe Harbor.