| Exhibit 99.1 |
MATERIAL CHANGE REPORT
Form 51-102F3
Item 1 Name and Address of Company
Titan Medical Inc. (the “Company” or “Titan”)
155 University Avenue
Suite 750
Toronto, Ontario
M5H 3B7
Item 2 Date of Material Change
April 29, 2020.
Item 3 News Release
Attached as Schedule “A” hereto is a copy of the news release relating to the material change, which was disseminated on April 29, 2020 through Business Wire. The news release was subsequently filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
Item 4 Summary of Material Change
On April 29, 2020, the Company announced that it had closed a US$1.5 million senior secured loan facility (“Loan Facility”) from a leading global medical technology company. The Loan Facility has an interest rate of 8% per annum and is repayable not later than April 29, 2023.
Item 5 Full Description of Material Change
Please see the press release attached as Schedule “A” hereto.
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7 Omitted Information
Not applicable.
Item 8 Executive Officer
The following executive officer is knowledgeable about the material change and may be contacted about this report:
Stephen Randall
Chief Financial Officer
(416) 548-7522 (ext. 152)
| Email: | stephen@titanmedicalinc.com |
| Website: | www.titanmedicalinc.com |
Item 9 Date of Report
April 29, 2020
SCHEDULE “A”
See attached news release.