RYU Apparel Inc. — Capital/Financing Update 2020

Jan 3, 2020

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RYU APPAREL ANNOUNCES EXTENSION OF NON-BROKERED PRIVATE PLACEMENT

Vancouver, BC – January 3, 2020 – /CNW/ RYU Apparel Inc. (TSX-V: RYU, OTCQB: RYPPF) (“ RYU” or the “ Company ”), creators of urban athletic apparel, is pleased to announce that, further to its news releases dated November 20, 2019 and December 23, 2019, the Company has received an extension from the TSX Venture Exchange (“ TSX-V ”) with respect to the duration of its previously announced private placement (the “ Private Placement ”).

The Private Placement is still currently ongoing and the outside date upon which final acceptance of the Private Placement will be granted by the TSX-V has been extended to February 5, 2020.

On behalf of the Board

RYU APPAREL INC. “Marcello Leone” Marcello Leone, CEO Tel: 604‐235‐2880

Investor Relations

Contact: Anna Brazier Investor Relations

1‐844‐535‐2880 investors@ryu.com www.ryu.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 that RYU intends to undertake subsequent tranches of the Private Placement. 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) the inability of RYU to complete subsequent tranches of Financing at all or on the amended terms announced; or (iii) the Exchange not approving subsequent tranches of the 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.

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