TORONTO, ON--(Marketwired - June 22, 2016) - Titan Medical Inc. (TSX: TMD) (OTCQX: TITXF), focused on the design and development of SPORT, a robotic surgical system for application in minimally invasive surgery, reported shareholder vote results from the Company's Annual Meeting held today.

All of management's nominees for election were duly elected as directors of the Corporation by the shareholders present or represented by proxy at the meeting. The results of the vote were reported to the meeting by Computershare, which acted as scrutineer at the meeting, as follows:

A total of 102,693,652 of the 147,398,113 common shares outstanding were voted at the meeting.

The number of votes withheld from the election of John T. Hargrove at the meeting exceeded the number of "For" votes cast. Therefore, following the meeting, Mr. Hargrove tendered his resignation as a director of the Corporation in accordance with the Corporation's majority voting policy. The resignation was made subject to acceptance or rejection by the Board of Directors of the Corporation.

Upon the recommendation of the Corporate Governance and Nominating Committee and after careful consideration, the Corporation's Board of Directors accepted Mr. Hargrove's resignation from the Board. The Board also appointed Martin Bernholtz, CPA, a member of the Board of Directors since 2008, as interim Chairman of the Board. Mr. Bernholtz is currently Chief Financial Officer of Toronto-based Kerbel Group, Inc. Additionally, a search for a new Chairman of the Board has been initiated and Mr. Hargrove will remain Chief Executive Officer.

"We have listened to our shareholders vote and have accepted John's resignation from the Board of Directors," said Mr. Bernholtz. "John has served as our Chairman with distinction since March 2013 and on behalf of our entire Board we thank him for his tireless dedication to Titan Medical. The entire Board is grateful that John will continue as our Chief Executive Officer as he leads our focused effort to conclude development of our SPORT Surgical System and the submission of our 510(k) application to the U.S. Food & Drug Administration. Our search for a new director, who will also serve as Chairman, will be intensive and widespread and our goal is to attract a proven leader in the medical device industry who will bring extensive experience, knowledge and relationships to Titan's Board of Directors. We will update our shareholders on our progress with this search as developments merit."

About Titan Medical Inc.

Titan Medical Inc. is a Canadian public company focused on the design and development of a robotic surgical system for application in minimally invasive surgery ("MIS"). The Company's SPORT™ Surgical System, currently under development, includes a surgeon-controlled robotic platform that incorporates a 3D high-definition vision system and multi-articulating instruments for performing MIS procedures through a single incision. The surgical system also includes a surgeon workstation that provides a surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments and provides a 3D high-definition endoscopic view of inside a patient's body. The SPORT™ Surgical System is designed to enable surgeons to perform a broad set of surgical procedures for general abdominal, gynecologic, and urologic indications. For more information, visit the Company's website at www.titanmedicalinc.com.

Forward-Looking Statements

This news release contains "forward-looking statements" which reflect the current expectations of management of the Company's future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, those listed in the "Risk Factors" section of the Company's Annual Information Form dated March 30, 2016 (which may be viewed at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements.