VANCOUVER, May 6, 2019 /CNW/ - RYU Apparel Inc. (TSXV: RYU,
OTCQB: RYPPF) ("RYU" or the "Company") announces that
it has been delayed in filing its audited annual financial
statements for the year ended December 31,
2018, the related management's discussion and analysis and
certificates of its CEO and CFO (collectively, the
"Filings") with Canadian securities regulators beyond the
deadline of April 30, 2019.
The Company is working diligently with its auditors to make the
Filings as soon as possible. Subject to the completion of remaining
customary audit procedures, the Company expects to complete the
required filings on or before Thursday, May
9, 2019.
In connection with this delay, the Company expects that the
British Columbia Securities Commission ("BCSC") will be
issuing a failure-to-file cease trade order ("FFCTO")
against the Company. When issued, the Company expects the FFCTO to
affect trading in all securities of the Company by securityholders
of the Company, to apply in each jurisdiction in Canada in which the Company is a reporting
issuer in Canada and to remain in
effect until such time as the Company has made the Filings. Once
the Filings are made (within 90 days of the date of the FFCTO),
such filings will constitute the Company's application to have the
FFCTO revoked.
For regular updates on RYU Apparel visit:
http://ryu.com
About RYU
Respect Your Universe is an award winning urban athletic
apparel and accessories brand engineered for the fitness,
performance and lifestyle of the athletic man and woman. Designed
without compromise for fit, comfort, and durability, 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
Tel: 604-235-2880
This press release contains forward-looking information that
involves various risks and uncertainties regarding future events.
Such forward-looking information can include without limitation,
statements pertaining to the estimated timing of the Company making
the Filings, and related expectations regarding the issuance of,
and revocation of, the FFCTO. All statements included herein, other
than statements of historical fact, are forward-looking information
and such information involves various risks and uncertainties.
There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ
materially from those anticipated in such information.
Forward-looking statements are based on estimates and opinions of
management of the Company at the time the information is presented.
The Company may, as considered necessary in the circumstances,
update or revise such forward-looking statements, whether as a
result of new information, future events or otherwise, but the
Company undertakes no obligation to update or revise any
forward-looking statements, except as required by applicable
securities laws.
Neither the TSX Venture Exchange Inc. nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange Inc.) accepts responsibility for the adequacy
or accuracy of this press release.
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SOURCE RYU Apparel Inc.