RYU Apparel Inc. — Capital/Financing Update 2020

May 6, 2020

==> picture [610 x 90] intentionally omitted <==

RYU Apparel Announces Closing of Shares for Debt Transaction

Vancouver, BC – May 5, 2020 – /CNW/ ‐ RYU Apparel Inc. (TSXV: RYU, OTCQB: RYPPF) (“RYU” or the “Company”), creator of urban athletic apparel, announces that further to the Company’s news release dated April 21, 2020, it has issued a total of 46,137,449 common shares at a deemed price of $0.04 per common share to three creditors pursuant to certain debt settlement agreements.

The Company also received TSX Venture Exchange conditional approval to issue 8,000,000 common shares to Marcello Leone at a deemed price of $0.04 per share to address all remaining payment obligations under Mr. Leone's employment agreement pursuant to his resignation as a director and officer of the Company on April 20, 2020. The issuance is subject to shareholder approval at the Company's next annual general or special shareholders' meeting.

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 fitness, performance and lifestyle. 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.

“ Cesare Fazari”

Cesare Fazari, Chief Executive Officer 1‐844‐535‐2880

Investor Relations

Contact: Anna Brazier Investor Relations

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

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.

==> picture [610 x 90] intentionally omitted <==

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 the Company, such as statements that the Company will obtain shareholder approval for the proposed debt settlement with Mr. Leone. 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, material adverse effects resulting from the COVID‐19 pandemic; the ability of the management team to execute on its business plan, and risks in the apparel industry in general. 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.