BCSC Cease Trade Order

Citation: 2020 BCSECCOM 206

Cease Trade Order

Lee Buckler
Simon Ma
(each referred to separately as the Insider)

And

RepliCel Life Sciences Inc.

Section 164 of the Securities Act, R.S.B.C. 1996, c. 418

¶ 1 RepliCel Life Sciences Inc. is a reporting issuer and has not filed:

1. annual audited financial statements for the year ended December 31, 2019, as required under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102), and

2. a Form 51-102F1 Management's Discussion and Analysis for the period ended December 31, 2019, as required under Part 5 of NI 51-102

(the required records).

¶ 2 The Insider may have knowledge of, or access to, a material fact or material change regarding RepliCel Life Sciences that has not been generally disclosed.

¶ 3 RepliCel Life Sciences has agreed to file, immediately after this order is granted, the Notice of Default and, if applicable, Default Status Reports, set out in National Policy 12-203 Management Cease Trade Orders.

¶ 4 Under section 164(1) of the Act, the Executive Director orders that all trading by the Insider in the securities of RepliCel Life Sciences cease until:

1. RepliCel Life Sciences files the required records, completed in accordance with the Act and rules, and

2. the Executive Director revokes this order.

¶ 5 June 17, 2020

Jody-Ann Edman, CPA, CA
Manager, Financial Reporting
Corporate Finance

Original