TORONTO, ON--(Marketwired - June 10, 2015) - Titan Medical Inc. ("Titan" or the "Company" (TSX: TMD) (OTCQX: TITXF) announces the voting results from its Annual and Special Meeting of shareholders held on June 9, 2015.
All of the five nominees proposed by management for election to the Board of Directors at the meeting and listed in the Company's Management Information Circular dated May 8, 2015 were elected. The Directors will remain in office until the next annual meeting of shareholders, or until their successors are elected or appointed.
The results of the vote on the election of the Board of Directors are as follows:
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Director Votes For Votes Withheld
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# % # %
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John E. Barker 12,894,926 93.04 964,377 6.96
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Martin C. Bernholtz 12,873,226 92.89 986,077 7.11
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John T. Hargrove 12,684,934 91.53 1,174,368 8.47
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Reiza Rayman, M.D. 12,778,379 92.20 1,080,923 7.80
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Bruce G. Wolff, M.D. 12,784,889 92.25 1,074,412 7.75
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Additionally, resolutions approving the following additional matters were passed at the Meeting, each by show of hands:
- appointment of BDO Canada LLP as the auditors of the Company (with 94.90% of the votes cast by proxy on the motion being in favour of the appointment of the auditors),
- approval of the Company's Stock Option Plan (with 86.66% of the votes cast by proxy on the motion being in favour of the plan),
- approval of the option grants to members of the Company's Surgeon Advisory Board (with 90.96% of the votes cast by proxy on the motion being in favour of the option grant),
- approval of an Advance Notice Bylaw (with 92.31% of the votes cast by proxy on the motion being in favour of the bylaw), and
- approval of the Company's Shareholder Rights Protection Plan (with 93.45% of the votes cast by proxy on the motion being in favour of the plan).
About Titan Medical Inc.
Titan Medical Inc. is a Canadian public company focused on the design and development of a robotic surgical system for application in minimally invasive surgery ("MIS"). The Company's Single Port Orifice Robotic Technology, SPORT' Surgical System, currently under development, is comprised of a surgeon-controlled robotic platform that includes a 3D vision system and interactive instruments for performing MIS procedures, and a surgeon workstation that provides the surgeon with an interface to the robotic platform for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient's body during MIS procedures. The SPORT' Surgical System is being designed to expand robotic surgery into both simple and complex areas of surgical specialties and procedures that are currently under-serviced. It is also being designed to allow surgeons to perform procedures within small- to medium-size surgical spaces for general abdominal, gynecologic, and urologic indications. 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", "potential for" 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 March 31, 2015 (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.
CONTACT INFORMATION
Titan Medical Inc.
John Hargrove, Chairman & Chief Executive Officer
(416) 548-7522 (ext. 151)
john.hargrove@titanmedicalinc.com
www.titanmedicalinc.com
