Analyst Says Cell Therapy Company's Move Decreases Risk

08/23/2017

Additional Disclosures:

Analyst Certification   |   Company: RepliCel Life Sciences Incorporated    |    Symbol: RP : TSX.V
I, Douglas Loe, hereby certify that the views expressed in the coverage of RepliCel Life Sciences Incorporated accurately reflect my personal views about the subject security or Issuer. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing specific recommendations or views.

Does the Analyst or any member of the Analyst’s household have a financial interest in the securities of the subject issuer? If Yes: a) Is it a long or short position? b) What type of security is it? Yes, Long stock.