TORONTO, ONTARIO--(Marketwire - July 5, 2010) - Titan Medical Inc. (TSX VENTURE:TMD) announced today that it has filed an amended and restated preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces of British Columbia, Alberta and Ontario. This filing has been made in order to amend and restate the Company's current preliminary short form prospectus which was filed with the securities regulatory authorities in each of the provinces of British Columbia, Alberta and Ontario on April 13, 2010.
The preliminary shelf prospectus relates to the offering for sale from time to time, in one or more series or issuances, of common shares, warrants and/or units comprising common shares and warrants in British Columbia, Alberta and Ontario for gross proceeds of up to an aggregate of Cdn$15,000,000 during the 25 month period that the prospectus, including any amendments to the prospectus, remains effective. The type of securities to be distributed and the terms of each offering, if any, will be established at the time of the offering and described in a prospectus supplement filed with the securities regulatory authorities in connection with the offering. Titan has terminated its engagement of Paradigm Capital Inc., as agent for the offering announced on April 15, 2010.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction.
A copy of the amended and restated preliminary short form base shelf prospectus is available electronically at www.sedar.com.
About Titan Medical Inc.
Titan Medical Inc. is a Canadian public company (TSX VENTURE:TMD) focused on the development and commercialization of robotic surgical technologies. The Company is currently developing Amadeus, a next generation 4-armed robotic surgical system, with the objective of enabling surgeons to remotely manipulate surgical instruments. Robotic surgery has developed over the past 10 years into a proven and growing method of treatment. The global robotic surgical market size is currently estimated to be $3.4 billion with potential for placement of 6,000 robotic surgical systems. The Company is researching and developing innovative technologies to empower surgeons to use robots in the operating room of the future. For more information, visit the Company's website at www.titanmedicalinc.com.
Forward Looking Statements
This news release contains "forward-looking statements" which reflect the current expectations of management of the Company's future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company'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, including, without limitation, those listed in the "Risk Factors" section of the Company's Annual Information Form dated April 9, 2010 (which may be viewed at www.sedar.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, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.