Euro Pacific, Richardson help fund trials, research and development
By Devika Patel
Knoxville, Tenn., Oct. 20 – RepliCel Life Sciences Inc. said it has arranged a C$2 million private placement of units with agents Euro Pacific Canada Inc. and Richardson GMP Ltd.
The company will sell units of one common share and one warrant at C$0.31 per unit on a commercially reasonable basis.
The two-year warrants are each exercisable at C$0.40, a 14.29% premium to the Oct. 19 closing share price of C$0.35.
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 million
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Price: | C$0.31
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.40
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Agents: | Euro Pacific Canada Inc. and Richardson GMP Ltd.
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Pricing date: | Oct. 20
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Stock symbol: | TSX Venture: RP
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Stock price: | C$0.35 at close Oct. 19
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Market capitalization: | C$19.51 million
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