Mr. Paul Cataford reports

TITAN MEDICAL ANNOUNCES LIFTING OF MANAGEMENT CEASE TRADE ORDER

Titan Medical Inc. has noted that the management cease trade order (MCTO) granted on April 3, 2023, by the Ontario Securities Commission under National Policy 12-203 -- Management Cease Trade Orders lapsed on June 13, 2023, following the filing, on May 31, 2023, of the company's annual financial statements and accompanying management's discussion and analysis for the fiscal year ended Dec. 31, 2022, and the filing, on June 9, 2023, of the company's first quarter financial statements and accompanying management's discussion and analysis for the period ended March 31, 2023.

"From the cash resources generated from the recently announced non-exclusive licensing deals, the company was able to complete the audit and the required filings for our annual general meeting of shareholders," says Paul Cataford, interim president, chief executive officer and board chair. "Being fully in compliance with all of our filings and having cash reserves increases the number of strategic options available to the company as we continue to look into ways to unlock shareholder value."

About Titan Medical Inc.

Titan Medical, a medical technology company headquartered in Toronto, Ont., has developed an expansive patent portfolio related to the enhancement of robotic assisted surgery (RAS), including through a single access point, and is currently focused on evaluating new opportunities to further develop and license its intellectual property.

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