RepliCel Life Sciences Announces Reinstatement of Trading & Conditional Acceptance for Proposed Transaction
VANCOUVER, BC, CANADA – October 17, 2024 – RepliCel Life Sciences Inc. (OTCPK: REPCF) (TSXV: RP) (FRA:P6P2) (“RepliCel” or the “Company”), announces that, following a reinstatement review by the TSX Venture Exchange (the “Exchange”), the Company’s common shares are expected to be reinstated for trading.
As of June 30, 2024, the Company’s working capital deficiency was approximately $(2,071,403). At this time, the Company intends to manage its working capital concerns through its secured loan (the “Loan”) with Andrew Schutte, the President and Chief Executive Officer of the Company. For additional details relating to the Loan, see the Company’s news release dated April 17, 2024 filed under the Company’s profile on www.sedarplus.ca.
In addition, the Company is pleased to announce that it has received conditional acceptance from the Exchange for its proposed disposition of assets to 1456390 B.C. Ltd., a nonarm’s length private British Columbia company controlled by Andrew Schutte. The transaction will be subject to approval by the Company’s shareholders, which the Company will seek at a meeting of its shareholders (the “Meeting”). The Company anticipates that it will hold the Meeting before December 31, 2024. For additional details relating to the proposed transaction, see the Company’s news release dated August 28, 2024 filed under the Company’s profile on www.sedarplus.ca. Additional updates relating to the proposed transaction will be provided in future news releases.