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Titan Medical prices marketed offering of units

Titan Medical Inc. priced its marketed offering of units at 30 Canadian cents per unit.

Each unit includes 1 common stock and 1 common share purchase warrant. Each warrant is exercisable for 1 common share at 35 cents.

The Toronto-based company intends to use net proceeds to fund the development of its Sport surgical system, as well as for working capital and other general corporate purposes.

Bloom Burton Securities Inc. is acting as the agent for the offering.

Titan is focused on the development of a robotic surgical system for use in minimally invasive surgery.