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Wednesday, March 23, 2016 3:58:46 PM
Form 51-102F3 Material Change Report
Item 1 Name and Address of Company
Titan Medical Inc. (the “Company” or “Titan”) 170 University Avenue
Suite 1000
Toronto, Ontario
M5H 3B3
Item 2 Date of Material Change
March 21, 2016 and March 22, 2016.
Item 3 News Release
The press releases attached as Schedule “A” and Schedule “B” were disseminated through Marketwired on March 21, 2016 and March 22, 2016, respectively, with respect to the material changes.
Item 4 Summary of Material Change
On March 21, 2016 the Company announced its intention to commence an offering of units (“Units”) by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s base shelf prospectus dated August 18, 2015, to be filed with securities regulators in Ontario, British Columbia and Alberta and on a private placement basis in the United States.
On March 22, 2016 the Company announced that Bloom Burton & Co. Limited had agreed to offer Units on a “best efforts” basis at a price of CDN$1.00 per Unit.
Item 5 Full Description of Material Change
5.1 Full Description of Material Change
Please see the press releases attached as Schedule “A” and Schedule “B”.
5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7 Omitted Information
Not applicable.
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