Shareholders commit to non-brokered private
placement in clear support of the Company's partnership
strategy
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, Oct. 19, 2017 /CNW/ - RepliCel Life Sciences
Inc. ("RepliCel" or the "Company") (OTCQB: REPCD) (TSX.V:
RP) (Frankfurt: P6P2), a clinical stage regenerative medicine
company focused on the development of autologous cell therapies,
announces that, further to its News Releases of October 10, 2017 and October 12, 2017, it has closed its non-brokered
private placement of 2,815,881 common shares (each, a
"Share") at a price of $0.41
per Share for gross proceeds of $1,154,511.21 (the "Offering"). The
size of the financing was increased to meet demand, structured to
include a common share at a standard discount to market price
without any accompanying warrants, and was closed within days of
the financing being announced.
"We are pleased to have secured the support of several key
shareholders in the closing of a financing on terms which are
favourable to the Company as we execute on the third and final
major deliverable we had set out for the Company in 2017," stated
RepliCel CEO Lee Buckler. "This sets
the stage for us to keep pressing forward while we negotiate
partnership agreements anticipated to capitalize the Company
through its next stage of development."
The proceeds of the Offering will be used for general working
capital and funding ongoing programs including device development
as the Company finalizes key partnership agreements currently in
negotiation.
In a statement referencing his January forecast, Buckler
continued, "This year we aimed to deliver successful clinical data,
fully functioning device prototypes, and partnership deals. Having
delivered on the first two, we are now in full swing on the third
major deliverable. As we transition the Company and its assets into
the next phase of its development, our strategy is clear. We intend
to leverage the expertise, capital, and infrastructure of regional
partners to create value for our shareholders."
In connection with the Offering, the Company paid cash finder's
fees of $16,361.21. All
securities issued in connection with the Offering are subject to a
statutory hold period expiring on the date that is four months and
one day after closing.
None of the securities issued in connection with the financing
will be 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.
About RepliCel Life Sciences
RepliCel is a regenerative medicine company focused on
developing cell therapies for large-market aesthetic and orthopedic
applications including aging/sun-damaged skin, pattern baldness,
and chronic tendon degeneration.
This year the Company announced first-in human clinical data
establishing safety and demonstrating significant efficacy
potential across its entire product pipeline comprised of RCT-01
for tendon repair, RCS-01 for skin rejuvenation, and RCH-01 for
hair restoration.
The Company is purpose built to be lean and partnership-focused.
RCH-01 is currently being co-developed with and under exclusive
license by Shiseido for certain Asian countries. Partnership
discussions and negotiations are underway for other products and
regions while the Company implements next-phase clinical and
commercial development. The nearest-term commercial asset is a
next-generation dermal injector, RCI-02, anticipated to be
market-ready next year, and designed to bring better more
consistent results to a wide variety of dermal and aesthetic
injection procedures.
Visit www.replicel.com for additional information.
Forward-Looking Statements
Certain statements in this
news release are forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the
future. Forward looking statements in this news release include
statements relating to: that the Company in negotiating partnership
agreements and anticipates entering into partnership agreements;
that such partnership agreements will capitalize the Company
through the next stage of development; that the Company will
finalize one or more partnership agreements in the near-term; the
expected results and timing of such partnership agreements; and the
benefits the Company may obtain from any such partnerships.
Forward-looking statements are only predictions and involve known
and unknown risks which may cause actual results and the Company's
plans and objectives to differ materially from those expressed in
the forward-looking statements, including: the risk that the
Company may be unable to agree on definitive partnerhsip agreement
terms with any party; the risk that any proposed partnership will
fail in the due diligence process; the risk that any such
partnership agreements will resulting in sufficient capital for the
Company to take it through its next stage of development, the risk
that the Company will receive negative results from the Company's
clinical trials; the effects of government regulation on the
business of the Company and any potential partners; risks
associated with future approvals for clinical trials; risks
associated with the Company obtaining all necessary regulatory
approvals for its various programs in applicable jurisdictions;
risks associated with the Company's ability to obtain and protect
rights to its intellectual property; risks and uncertainties
related to potential litigation; risks and uncertainties associated
with the Company's ability to raise additional capital; and other
factors beyond the Company's control. Although the Company believes
that the expectations reflected in the forward-looking statements
are reasonable, it cannot guarantee future results, levels of
activity or performance. Further, any forward-looking statement
speaks only as of the date on which such statement is made and,
except as required by applicable law, the Company undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date on which such statement is
made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for
management to predict all of such factors and to assess in advance
the impact of such factors on the Company's business or the extent
to which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any
forward-looking statement. Readers should consult all of the
information set forth herein and should also refer to the risk
factor disclosure outlined in the Company's annual report on Form
20-F for the fiscal year ended December 31,
2016 and other periodic reports filed from time-to-time with
the Securities and Exchange Commission on Edgar at www.sec.gov
and with the British Columbia Securities Commission on SEDAR
at www.sedar.com.
Neither 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.
SOURCE RepliCel Life Sciences Inc.