Vancouver, British Columbia, July 30, 2020 – Mr. Andrew Schutte issues this press release pursuant to Part 3.1 of National Instrument 62-103 – The Early Warning System and Related TakeOver Bid and Insider Reporting Issues, with respect to RepliCel Life Sciences Inc. (the “Company”). Mr. Schutte is a director of the Company.
On July 15, 2020, Mr. Schutte acquired 1,125,500 units (each, a “Unit”) from the Company on a private placement basis at a price of $0.18 per Unit for proceeds of $202,590 pursuant to a private placement subscription agreement (the “Transaction”). Each Unit consists of one common share (each, a “Share”) and one-half of one share purchase warrant (each whole warrant, a “Warrant”). One Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.36 per Share.
Prior to the Transaction, Mr. Schutte owned the following securities: (i) 1,891,378 Shares held directly; (ii) 250,000 class A preference shares held directly to purchase an additional 303,030 Shares; and (iii) 30,000 stock options held directly to purchase an additional 30,000 Shares. Prior to the Transaction, Mr. Schutte directly owned 2,224,408 Shares, on a partially diluted basis (assuming conversion of the class A preference shares and exercise of all stock options), which represented 7.86% of the issued and outstanding Shares as of July 14, 2020, based on 28,287,706 Shares issued and outstanding as of such date.
Following the Transaction, Mr. Schutte owned the following securities: (i) 3,016,878 Shares held directly; (ii) 250,000 class A preference shares held directly to purchase an additional 303,030 Shares; (iii) 30,000 stock options held directly to purchase an additional 30,000 Shares; and (iv) 562,750 warrants held directly to purchase an additional 562,750 Shares. After the issuance of the Units pursuant to the Transaction, Mr. Schutte directly and indirectly owned and controlled 3,912,658 Shares, on a partially diluted basis (assuming conversion of the class A preference shares and exercise of all stock options and warrants), which represents 12.25% of the issued and outstanding Shares as of July 15, 2020, based on 31,936,816 Shares issued and outstanding as of such date.
Mr. Schutte acquired the securities of the Company for investment purposes. Depending on economic or market conditions or matters relating to the Company, Mr. Schutte may choose to either acquire additional securities or dispose of securities of the Company.
A copy of Mr. Schutte’s early warning report will appear on the Company’s profile on SEDAR at www.sedar.com and may also be obtained by contacting Andrew Schutte at 502.709.7544.
“Andrew Schutte”
Andrew Schutte
