Titan Medical Inc (TMDIF)

[Element41]

IMO, This is the final chapter when another company comes in to take it out for a token amount higher than the last ten days trading price. BOD and management will state; "we believe that this transaction provides the best liquidity opportunity for shareholders". Then go on to say; "Reaching this conclusion is an important step for the technology, as it will provide the expertise and the financial resources to best help the platform achieve its full potential. We look forward towards its successful completion."
The customary break up fee of $3+ million will no doubt apply to ensure the financial nail in the coffin scenario.
Formation of a special committee and fairness opinion will follow.
Shareholder approval of at least 66-2/3rds per cent of the votes cast by shareholders present in person or represented by proxy at the special meeting.
Just another Canadian company with promising medical technology being taken out to the back of the shed just before final commercial validation.