News Column

RepliCel Life Sciences Announces Closing of Third and Final Tranche of Private Placement

June 30, 2014

By a News Reporter-Staff News Editor at Clinical Trials Week -- RepliCel Life Sciences Inc. ("RepliCel" or the "Company") (TSX VENTURE:RP)(OTCQB:REPCF), is pleased to announce it has completed the third and final tranche of its non-brokered financing (the "Financing") announced on March 28, 2014, which consisted of a non-brokered private placement of 866,000 units (each a "Unit") at a price of $0.75 per Unit for gross proceeds of $649,500 (the "Offering"). The total final gross proceeds for the Unit offering were $3,990,125.25. Each Unit consists of one common share of the Company (each, a "Share") and one Share purchase warrant (the "Warrant"), which will entitle the holder to purchase one additional Share for a period of two years from the closing of the private placement at a price of $1.00 per Share during the first year and $1.25 per Share during the second year. This financing was led by Crossover Healthcare Fund, LLC.

"This financing puts us in a position to execute on our near-term clinical initiatives towards the commercialization of RCT-A-01, a treatment for chronic Achilles tendinosis, RCS-01, a treatment for aging and sun damaged skin and RCH-01, a treatment for pattern baldness. All three trials are on track for filing this year which will drive key six month data next year for RCT-A-01 and RCS-01. Launching three human clinical trials running concurrently will be a significant accomplishment for a biotech company of our size. To our knowledge, there are only a handful of publically traded companies in the regenerative medicine sector that are doing this," stated David Hall, CEO of RepliCel. He goes on to say, "We are especially excited to have the participation of Crossover Healthcare Fund LLC in this last tranche of financing. The Crossover Healthcare Fund, led by Navroze Alphonse and Dr. John P. Nicholson Jr., is a strategic new life science focused Boston-based shareholder who we look forward to working with as we rapidly broaden our exposure to the US healthcare investment community."

All securities issued in 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.

Further to its news release dated May 9, 2014, the Company also announces that in connection with the closing of the first tranche of the financing, the Company issued additional finder's warrants to purchase 42,800 Shares at a price of $0.75 per Share for a period of 24 months to one finder (see also Pharmaceuticals, Biotechnology).

Keywords for this news article include: Biotechnology, Pharmaceuticals.

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Source: Clinical Trials Week

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