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RYU Apparel Inc. — Capital/Financing Update 2022
Oct 7, 2022
47270_rns_2022-10-06_1cf827d0-afe6-47b8-958d-184c0294fe97.pdf
Capital/Financing Update
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Form 51-102F3 MATERIAL CHANGE REPORT
Item 1. Name and Address of Company: RYU Apparel Inc. (the “ Company ”) 1745 West 4th Avenue Vancouver, BC V6J 1M2 Item 2. Date of Material Change October 6, 2022 Item 3. News Release: Item 4. Summary of Material Change:
The news release was disseminated through Stockwatch and BayStreet on October 6, 2022.
The Company announced that further to its news release dated September 27, 2022, it wishes to correct the details of its intended shares for debt transaction. The Company intends to settle debt in the amount of $21,112.50 owed by the Company in exchange for the issuance 422,250 common shares at a deemed price of $0.05 per share. The proposed debt settlement is subject to the approval of the TSX Venture Exchange (the " Exchange ").
This press release has been issued to correct an error in a press release disseminated on September 27, 2022. The previous press release mistakenly announced the Company's intention to settle certain debt in the amount of $19,549.50 owed by the Company in exchange for the issuance of 2,604,129 common shares at a deemed price of $0.04 per share.
Item 5. Full Description of Material Change:
5.1 Full Description of Material Change
The Company announced that further to its news release dated September 27, 2022, it wishes to correct the details of its intended shares for debt transaction. The Company intends to settle debt in the amount of $21,112.50 owed by the Company in exchange for the issuance 422,250 common shares at a deemed price of $0.05 per share. The proposed debt settlement is subject to the approval of the TSX Venture Exchange (the " Exchange ").
This press release has been issued to correct an error in a press release disseminated on September 27, 2022. The previous press release mistakenly announced the Company's intention to settle certain debt in the amount of $19,549.50 owed by the Company in exchange for the issuance of 2,604,129 common shares at a deemed price of $0.04 per share.
2
- 5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6. Reliance on Subsection 7.12(2) of National Instrument 51-102:
Not applicable.
- Item 7. Omitted Information
No material facts have been omitted from this Material Change Report.
- Item 8. Executive Officer
For further information, contact: Cesare Fazari, Chief Executive Officer of the Company (844) 535-2880
Item 9. Date of Report
October 6, 2022