On March 14, 2023, RepliCel Life Sciences Inc. closed the transaction. The company issued 10,131,000 units for gross proceeds of CAD 1,013,100. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.

The transaction involved participation from overall five placees , including two insiders, Andrew Schutte for 4,042,500 units. The company has received funding pursuant to exemption provided under Regulation D from five investors.