Titan Medical provides update on planned merger with Conavi

Titan Medical provided an update on its planned merger with Conavi Medical 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 towards the satisfaction of the conditions to completion of the Transaction set forth in the Amalgamation Agreement, including the parties’ work currently underway in respect of the following: Preparation of submissions to the TSXV in connection with Titan’s planned applications for the listing of its common shares on the TSX Venture Exchange and their delisting from the Toronto Stock Exchange and for TSXV 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, the terms of which will be announced at a later date, for minimum gross proceeds of $15 million up to a maximum of $20 million.