Press Release

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC – November 23, 2015 – RepliCel Life Sciences Inc. (“RepliCel” or the “Company”) (OTCQB: REPCF) (TSXV: RP), a clinical stage regenerative medicine company focused on the development of autologous cell therapies, is pleased to announce it has closed the first tranche of its financing announced on October 20, 2015, which consisted of a brokered private placement of 1,739,000 units (each a “Unit”) at a price of $0.31 per Unit for gross proceeds of $539,090 (the “Brokered Financing”). Each Unit consists of one common share of the Company (each, a “Share”) and one Share purchase warrant, which entitles the holder to purchase one additional Share for a period of two years from the closing of the private placement at a price of $0.40 per Share.

Euro Pacific Canada Inc. and Richardson GMP Limited (collectively, the “Agents”) acted as the agents with respect to the Brokered Financing. The Agents and members of the selling group also received options (the “Agent’s Options”) to purchase an aggregate of 139,120 Units of the Company at a price of $0.31 per Unit for a period of 24 months and received cash commission of $43,127.

All securities issued pursuant to the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing. None of the securities issued in the financing have been registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful

Proceeds of the financing are anticipated to be used for clinical trials, research and development and general working capital.

About RepliCel Life Sciences
RepliCel is a regenerative medicine company focused on developing autologous cell therapies that address conditions caused by a deficit of healthy cells required for normal healing and function. The company’s product pipeline is comprised of two ongoing clinical trials (RCT-01: tendon repair and RCS-01: skin rejuvenation) as well as its RCH-01: hair restoration product under exclusive license by Shiseido Company for certain Asian countries. All product candidates are based on RepliCel’s innovative technology utilizing cell populations isolated from a patient’s healthy hair follicles. The Company has also developed a propriety injection device (RCI-02) optimized for the administration of its products and licensable for use with other dermatology applications.

Visit http://www.replicel.com for additional information.

For more information please contact:

INVESTOR RELATIONS:
Lee Buckler, VP Business & Corporate Development
Telephone: 604-248-8693
lee@replicel.com

MEDIA:
Tammey George, Director of Communications
Telephone: 604-248-8696
tg@replicel.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of RepliCel, such as statements regarding the anticipated use of proceeds. There are numerous risks and uncertainties that could cause actual results and RepliCel’s plans and objectives to differ materially from those expressed in the forward-looking information, including adverse market conditions. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, RepliCel does not intend to update these forward-looking statements.