Euro Pacific Canada helps fund clinical trials, research, development
By Devika Patel
Knoxville, Tenn., June 26 – RepliCel Life Sciences Inc. said it concluded a C$2.04 million private placement of units. The deal priced for C$1.5 million on June 2. Of the proceeds, C$1.5 million was raised by lead agent Euro Pacific Canada, Inc. and C$539,593 was raised on a non-brokered basis.
The company sold 4,838,710 units of one common share and one warrant at C$0.31 per unit. Of the units, 4,834,471 were sold on a commercially reasonable basis by the agent and 1,740,622 were sold in the non-brokered deal.
The three-year warrants are each exercisable at C$0.51, a 30.77% premium to the June 1 closing share price of C$0.39.
Proceeds will be used for clinical trials, research and development and general working capital.
RepliCel is a Vancouver, B.C.-based company that is developing an anti-balding technology.
| Issuer: | RepliCel Life Sciences Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$2,038,279
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| Units: | 6,575,093
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| Price: | C$0.31
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.51
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| Agent: | Euro Pacific Canada, Inc. (lead, for C$1,498,686), non-brokered (for C$539,593)
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| Pricing date: | June 2
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| Settlement date: | June 26
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| Stock symbol: | TSX Venture: RP
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| Stock price: | C$0.39 at close June 1
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| Market capitalization: | C$25.28 million
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