VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2011) - RepliCel Life Sciences Inc. (the "Company" or "RepliCel") (OTCBB:REPCF) is pleased to report that all of the Company's Class C preferred shares (each, a "Class C Share") have been converted, on a 5:1 ratio from 13,000,000 Class C shares into 2,600,000 common shares of the Company (each, a "Common Share") by the holders thereof. All of the Common Shares issued on conversion of the Class C Shares have been deposited with a trustee pursuant to the terms of pooling agreements between RepliCel, the trustee and the respective shareholders. The Common Shares are subject to a timed release schedule under which 15% of the shares will be released on the first day of each of the fiscal quarters beginning January 1, 2013. Following this conversion, a total of 43,150,006 Common Shares are issued and outstanding.
About RepliCel Life Sciences
The Company has developed RepliCel™, a natural hair cell replication technology that has the potential to become the world's first, minimally invasive solution for androgenetic alopecia (pattern baldness) and general hair loss in men and women. RepliCel™ is based on autologous cell implantation technology that replicates a patient's hair cells from their own healthy hair follicles and, when reintroduced into areas of hair loss, the Company hopes to initiate natural hair regeneration. Patents for the technology have been issued by the European Union and Australia and are pending in other major international jurisdictions. The RepliCel™ procedure has been developed over the past nine years by the Company's recognized research scientists and medical experts - specialists in the fields of hair growth, hair biology and dermatology. Additional information about the Company is available at www.replicel.com.
On Behalf of the Board of Directors,
Peter Jensen, Chairman of the Board