Titan Medical Inc (TMD)

[Hypocrates]

Am I correct in thinking here that insiders bought shares?

Party Transaction

An aggregate of 630,914 Units were issued to insiders of the Company under the Offering for gross proceeds of $220,819. The insider subscriptions constitute a "related party transaction" pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). In completing the insider subscriptions, the Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 set forth in sections 5.5(a) and 5.7(a) of MI 61-101, as the aggregate value of the insider subscription does not exceed 25% of the market capitalization of the Company.