VANCOUVER, June 7, 2018 /CNW/ - RYU Apparel Inc. (TSXV: RYU)
("RYU" or the "Company"), creator of urban
athletic apparel, is pleased to announce that it has entered into
an agreement with Canaccord Genuity Corp. ("Canaccord") to join the
Canaccord Genuity Opportunities for the Longer Term Program (the
"COLTS Program").
The COLTS Program is a capital markets initiative that will
profile high growth and small-cap companies, such as RYU. The
strategic aim of RYU's participation in the COLTS Program is to
support RYU's growth and broaden its exposure to investors, both
retail and institutional.
Ongoing COLTS Program services will include:
- assisting with RYU's market communications strategy;
- building RYU's market profile domestically and offshore;
- publishing company profiles on RYU under the Canaccord COLTS
banner;
- providing investment banking expertise and capital markets
advisory services; and
- providing investor relations support, such as introductions to
relevant institutional and strategic investors.
In connection with the COLTS Program, the Company has agreed to
issue Canaccord 22.8 million warrants to acquire common shares of
the Company in two tranches:
- 11,379,810 warrants with an exercise price of $0.25 per common share, exercisable for a period
of 12 months from the date of the first COLTS publication; and
- 11,379,810 warrants with an exercise price of $0.30 per common share, exercisable for a period
of 24 months from the date of the first COLTS publication.
This type of compensation has been established to align
Canaccord with RYU's growth trajectory and to incentivize Canaccord
to assist in building the Company's profile.
"We are excited to partner with Canaccord on this longer-term
initiative," said Marcello Leone,
CEO of RYU. "We are optimistic that the COLTS Program will benefit
RYU by providing increased exposure of our story to a broader set
of investors and successfully drive further stock performance as
the Company executes its business plan."
The agreement with Canaccord and all matters contemplated as
part of the COLTS Program are subject to the prior acceptance and
approval of the TSX Venture Exchange.
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 athletically minded men and
women. Innovatively designed without compromise and tailored 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, President and Chairman of the Board
Tel: 604-235-2880
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.
This news release contains forward-looking information that
involve 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 the Company, such as the statement that: the COLTS
Program services will include: assisting with RYU's market
communications strategy; building RYU's market profile domestically
and offshore; publishing company profiles on RYU under the
Canaccord COLTS banner; providing investment banking expertise and
capital markets advisory; providing investor relations support,
such as introductions to relevant institutional and strategic
investors; and that the COLTS Program will benefit RYU by providing
increased exposure to its story to a broader set of
investors and successfully drive further stock performance as the
Company executes its business plan. There are numerous risks and
uncertainties that could cause actual results and the Company's
plans and objectives to differ materially from those expressed in
the forward-looking information, including the ability of the
Company to finance operations, the ability of the management team
to execute on its business plan, risks in the apparel industry in
general, and delays and risks associated with renovating and
opening new store locations. 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, the Company does not intend to update
these forward-looking statements.
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SOURCE RYU Apparel Inc.