Euro Pacific, Richardson help fund trials, research and development
By Devika Patel
Knoxville, Tenn., Nov. 23 – RepliCel Life Sciences Inc. said it raised C$539,090 in the first tranche of a C$2 million private placement of units. The deal is being conducted by agents Euro Pacific Canada Inc. and Richardson GMP Ltd. and priced on Oct. 20.
The company is selling units of one common share and one warrant at C$0.31 per unit on a commercially reasonable basis. It sold 1,739,000 units in the initial tranche.
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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| Settlement date: | Nov. 23 (for C$539,090)
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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$16.92 million
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