TORONTO, ONTARIO–(Marketwire – Dec. 23, 2009) – Titan Medical Inc. (TSX VENTURE:TMD) is pleased to announce that it has completed its private placement offering resulting in the issue of 5,822,000 units for gross proceeds of $2,328,800. Each unit was issued at $0.40 and comprises one common share of Titan and a 1/2 warrant. Each whole warrant entitles its holder to purchase one additional common share of Titan for $0.48 and will expire June 23, 2011. The offering remains subject to acceptance by the TSX Venture Exchange.