RepliCel Life Sciences Inc. announced that it has entered into a loan agreement dated April 10, 2024 with Andrew Schedule (the Lender), the President, Chief Executive Officer (CEO) and a director of the Company, with respect to a loan for a principal amount of up to $1,000,000 (the Loan). The terms of the Loan are as follows: Gross Proceeds: Up to CAD 1,000,000. Maturity Date: 12 months following the first loan payment.

Interest Rate: 5% per annum. Security: 1st position security interest over the assets of the Company. The Loan will be secured against all present and after acquired property of RepliCel, pursuant to the terms of a general security agreement dated April 10, 2024.

The company intends to use the proceeds of the Loan to satisfy the payment of certain expenses related to its previously announced asset purchase transaction with 1456390 B.C. Ltd., a non-arm's length private British Columbia company controlled by the Lender, and for general corporate invoices.