RepliCel Closes Second Tranche of Strategic Investment Commi MainPointe Pharmaceuticals Completes Largest Scheduled Share Purchases per Investment Agreement
VANCOUVER, BC / ACCESSWIRE / April 29, 2021 / RepliCel Life Sciences Inc. (OTC PINK:REPCF) (TSXV:RP) (FRA:P6P2) ("RepliCel" or the "Company"), a company developing next-generation technologies in aesthetics and orthopedics, announced today it has closed the second tranche of the investment by MainPointe Pharmaceuticals ("MainPointe") as outlined in the share purchase agreement signed earlier this year by the parties.
This second tranche involved MainPointe's purchase of 1,777,778 common shares issued by RepliCel in exchange for CAD $1,200,000 which has now been received by the Company.
MainPointe's investment commitment, totaling CAD $2.7M, will be made over a series of tranches involving the purchase of four million common shares at CAD $0.675 per share. The first tranche, announced February 10th, involved MainPointe's purchase of 729,024 common shares issued by RepliCel in exchange for the receipt of CAD $492,091. The final tranche is scheduled to be closed in August 2021.