RepliCel Life Sciences Continues Restructuring With Share Structure Consolidation

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 22, 2016) - RepliCel Life Sciences Inc. ("RepliCel" or the "Company") (OTCQB:REPCF)(TSX VENTURE:RP) (FRANKFURT:P6P1), a clinical stage regenerative medicine company focused on the development of autologous cell therapies, announced today that its Board of Directors has authorized a plan to proceed with a consolidation of its outstanding common shares (each, a "Share") on the basis of ten (10) pre-consolidation Shares for one (1) post-consolidation Share (the "Consolidation").

Currently, a total of 67,261,629 Shares are issued and outstanding. Accordingly, if the Consolidation is put into effect, a total of 6,726,162 Shares, subject to adjustments for rounding, would be issued and outstanding, assuming there are no other changes in the issued capital of the Company. There is currently no maximum number of authorized Shares. There is no name change in conjunction with the Consolidation. The Consolidation is subject to the approval of the TSX Venture Exchange.

"This Consolidation," stated RepliCel's President and CEO, R. Lee Buckler, "is a continuation of the restructuring initiated by the Company in April and to be finalized with a financing that is expected to be announced imminently."

The restructuring announced in April initated the reduction or elimination of all non-critical programs and staff in an effort to preserve capital to focus on the following three essential priorities pending a major financing or corporate transaction: (1) continued protection of intellectual property, (2) assembling of data from the RCT-01 and RCS-01 clinical trials expected near year-end 2016, and (3) the completion of a licensing/co-development transaction related to one of the four products the Company has in development.

The Company recently announced the launch of the next phase clinical testing of its RCH-01 product in Japan sponsored by its licensee, Shiseido Company, and expects two clinical data milestones within the next six months, namely data from its phase 1/2 clinical trial of RCT-01 for the treatment of chronic Achilles tendinopathy and data from its phase 1 clinical trial of RCS-01 for the treatment of aging and sun-damaged skin. With sufficient funding, the Company also has the opportunity to complete the building and validation testing of the commercial-grade prototypes of its next-generation dermal injector devices which could be market-ready and the subject of a licensing deal by late 2017.