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RepliCel to raise C$1.3M in private placement

RepliCel Life Sciences Inc. said it will undertake a private placement to issue up to 3,171,000 common shares at 41 Canadian cents apiece for gross proceeds of up to C$1.3 million.

The company was earlier going to issue up to 2.5 million common shares for gross proceeds of up to C$1 million but decided against it to accommodate subscriptions from existing shareholders participating in the offering.

Completion of the offering is subject to regulatory approvals, including approval of the TSX Venture Exchange.