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RYU Apparel Inc. — Capital/Financing Update 2021
Sep 2, 2021
47270_rns_2021-09-01_db083268-8e62-436f-99cd-880a395bff48.pdf
Capital/Financing Update
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
RYU Apparel Announces Closing of Settlement Agreement with Kosan Travel Company
Vancouver, BC – September 1, 2021 – RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYAA) (“ RYU ” or the “ Company ”), a creator of award-winning urban athletic apparel, announces that pursuant to a settlement agreement with Kosan Travel Company Ltd. (“ Kosan ”), the details of which were disclosed in the Company’s news release dated August 5, 2021, it has issued a total of 500,000 common shares (each, a “ Settlement Share ”) at a deemed price of $0.15 per Settlement Share for a settlement value of $75,000, to Kosan (the “ Settlement ”). The TSX Venture Exchange approved the issuance of the Settlement Shares which were paid to Kosan as a break-fee in connection with the termination of the share exchange agreement dated March 24, 2021 among RYU, Kosan and Kosan’s shareholders, respecting RYU’s proposed acquisition of Kosan.
The Settlement Shares are subject to a statutory hold period expiring on the date that is four months and one day after the closing of the Settlement.
On Behalf of the Board,
About RYU Apparel Inc.
RYU (TSXV: RYU, OTCQB: RYPPF), or Respect Your Universe, is an award winning urban athletic apparel and accessories brand engineered for active lifestyles. Designed without compromise for fit, comfort, and durability, RYU exists to facilitate optimal human performance. For more information, please visit the RYU website at: http://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 news release.
For further information: RYU APPAREL INC., Cesare Fazari, CEO, Tel: 1-844-535-2880; Corporate Communications: Anna Brazier, 1 (844) 535-2880, [email protected]; U.S. Investor Relations: RedChip Companies Inc., Dave Gentry, (407) 491-4498, [email protected]