Sep 14 2009
Titan Medical Inc. (TSX VENTURE:TMD) announces that its board of directors has approved the grants of 653,680 options to directors and senior officers of the company and 50,974 options to consultants of the company. Each option entitles its holder to purchase one common share of Titan at a price of $0.24 for a period of five years from the date of grant. The options vest on a quarterly basis and will be fully vested on July 31, 2010. All shares issuable upon exercise of the options shall be subject to resale restrictions, under the policies of the TSX Venture Exchange, for a period of 4 months from the date of grant.
Titan Medical Inc. is focused on the development and commercialization of robotic surgical technologies. The Company is currently developing Amadeus®, a next generation 4-armed robotic surgical system, with the objective of enabling surgeons to remotely manipulate surgical instruments. Robotic surgery has developed over the past 10 years into a proven and growing method of treatment. The global robotic surgical market size is currently estimated to be $3.4 billion with potential for placement of 6,000 robotic surgical systems. The Company is researching and developing innovative technologies to empower surgeons to use robots in the operating room of the future.
http://www.titanmedicalinc.com/