/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, June 22, 2017 /CNW/ - RYU Apparel Inc.
("RYU" or the "Company") (TSX VENTURE: RYU &
Frankfurt Stock Exchange: RYA), creator of tailored innovation for
the urban athlete, is pleased to announce that it has closed a
non-brokered private placement financing, which consisted of
25,031,570 units (each, a "Unit") at a price of $0.09 per Unit for gross proceeds of $2,252,841.30. Each Unit consists of one common
share and one share purchase warrant (each, a "Warrant").
Each Warrant entitles the holder to purchase one additional common
share at a price of $0.135 per common
share for a period of two years from the closing of the
financing.
No finder's fees are payable by the Company for the private
placement financing.
All securities issued in the financing are subject to a
statutory hold period expiring four months and one day after
June 22, 2017.
The net proceeds of the financing are intended to be used to
fund store expansion, purchase inventory, repayment of short-term
advances and for general corporate purposes.
The Company intends to proceed with its short form prospectus
financing, which was disclosed in its news release dated
May 24, 2017.
The securities described herein have not been registered under
the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), and may not be offered or sold in
the United States or to, or for
the account or benefit of, U.S. Persons (as defined in Regulation S
under the U.S. Securities Act) absent registration or an applicable
exemption from the registration requirements. This news release
shall not constitute an offer to sell or a solicitation of an offer
to buy nor shall there be any sale of the securities in any
jurisdiction where such offer, solicitation, or sale would be
unlawful.
For regular updates on RYU Apparel visit: http://ryu.com.
About RYU
RYU Apparel Inc. is tailored innovation for
the urban athlete. Designed without compromise, RYU engineers
apparel and accessories for the fitness and training of the
multi-discipline athlete. Created for athletes by athletes, RYU
exists to facilitate human performance. For more information,
visit: http://ryu.com.
On Behalf of the Board
RYU APPAREL INC.
"Marcello
Leone"
Marcello
Leone, CEO, President and Chairman of the Board
Tel: 604-235-2880
This news release contains forward-looking information that
involves various risks and uncertainties regarding future events.
Such forward-looking information can include without limitation
statements based on current expectations involving a number of
risks and uncertainties and are not guarantees of future
performance of RYU, such as statements about the use of proceeds of
the private placement financing and the short form prospectus
financing. There are numerous risks and uncertainties that could
cause actual results and RYU's plans and objectives to differ
materially from those expressed in the forward-looking information,
including: (i) adverse market conditions; (ii) risks inherent in
the apparel industry in general; (iii) the inability of RYU to
complete the short form prospectus financing at all or on the terms
announced; or (iv) the TSX Venture Exchange not approving the short
form prospectus financing. Actual results and future events could
differ materially from those anticipated in such information. These
and all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Except as required by law, RYU does not intend to update these
forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE RYU Apparel Inc.