RepliCel Life Sciences Inc. Announces Closing of First Tranche of Private Placement
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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:
Lee Buckler, VP Business & Corporate Development
Tammey George, Director of Communications
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.
The information in these press releases is historical in nature, has not been updated, and is current only to the date indicated in the particular press release. This information may no longer be accurate and therefore you should not rely on the information contained in these press releases. To the extent permitted by law, RepliCel Life Sciences Inc. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.
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Please note that any opinion, estimates or forecasts made by the authors of these statements are theirs alone and do not represent opinions, forecasts or predictions of RepliCel Life Sciences Inc. or its management. RepliCel Life Sciences Inc. does not, by its reference or distribution of these links imply its endorsement of, or concurrence with, such information, conclusions or recommendations.