RepliCel Life Sciences Announces Closing of Third and Final Tranche of Private Placement
17 Junho 2014 - 9:00AM
Marketwired
RepliCel Life Sciences Announces Closing of Third and Final Tranche
of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 17, 2014) -
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.
About RepliCel Life Sciences
RepliCel is a regenerative medicine company focused on
developing autologous cell therapies that address diseases caused
by a deficit of healthy cells required for normal healing and
function such as chronic tendinosis, damaged skin and pattern
baldness. The company's RCT-01 and RCS-01 cell therapies are
designed to treat chronic tendinosis and damaged or aging skin
respectively, using fibroblasts isolated from the sheath of the
hair follicle. Another of the company's pipeline products, RCH-01
for the treatment of pattern baldness, is manufactured from cells
derived from the hair follicle dermal cup. Shiseido Company,
Limited has an exclusive geographic license for RCH-01 in certain
Asian countries including Japan, China and South Korea. All product
candidates are based on RepliCel's innovative technology which
utilizes cells isolated from a patient's own healthy hair follicles
to address specific cellular deficits. For additional information
please visit www.replicel.com.
Neither the TSX Venture Exchange Inc. nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange Inc.) accepts responsibility for the adequacy
or accuracy of this press release.
This press release contains forward-looking information that
involve various risks and uncertainties regarding future events,
including statements regarding the Company's belief that the
proceeds from the financing puts the Company in a position to
execute on its clinical incentives, the timing of trials, and the
Company broadening its exposure into the US healthcare investment
community. 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. 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: negative results from the Company's
clinical trials; the effects of government regulation on the
Company's business; risks associated with the Company's ability to
obtain and protect rights to its intellectual property; risks and
uncertainties associated with the Company's ability to raise
additional capital; and other factors beyond the Company's control.
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.
COMPANY CONTACT:RepliCel Life Sciences Inc.David M. HallChief
Executive OfficerRepliCel Life Sciences Inc.Tammey GeorgeDirector
of Communications604-248-8696tg@replicel.comUS INVESTOR
RELATIONS:Westwicke Partners, LLCRobert H. UhlManaging
Director858-356-5932robert.uhl@westwicke.comCANADIAN INVESTOR
RELATIONS:Christina Cameronchristina@clcameron.com
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