/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Dec. 8, 2022
/CNW/ - RYU Apparel Inc. (TSXV: RYU); (OTCQB: RYPPF);
(FWB: RYA) ("RYU" or the "Company"), announces
that further to its news release dated December 1, 2022, it has received acceptance from
the TSX Venture Exchange (the "TSXV") to extend the expiry
date of 13,709,612 common share purchase warrants (the
"Warrants"), issued by the Company in connection with a
private placement financing that closed on December 22, 2020, from December 22, 2022 to December 22, 2025. In all other respects, the
terms of the Warrants will remain unchanged. No other terms of the
Warrants are to be amended and the exercise price remains at
$0.08.
Certain of the Warrants are held by parties who are considered
to be "related parties" of the Company (such warrants, the
"Related Party Warrants"). Therefore, the amendment of the
Related Party Warrants constitutes a "related party transaction" as
contemplated by Multilateral Instrument 61-101 Protection of
Minority Shareholders in Special Transactions, and TSXV Policy 5.9
- Protection of Minority Shareholders in Special Transactions.
However, the exemptions from formal valuation and minority approval
requirements provided for by these guidelines can be relied upon
because neither the fair market value of the Related Party Warrants
nor the fair market value of the consideration paid for the Related
Party Warrants exceeds 25% of the market capitalization of the
Company. A material change report in respect of this related
party transaction will be filed by the Company. The extension of
the Warrants would only be effective upon TSXV approval and receipt
of the requisite confirmation from the holders of the Warrants.
On Behalf of the Board,
RYU Apparel Inc.
"Cesare Fazari"
Cesare Fazari, CEO
Tel: 416-434-5750
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.
Our multi-purpose products are engineered for both performance
and everyday wear. Made with high quality materials and innovative
techniques, we craft products for your every step, every stroke and
every stride. No distractions, only progression. Our products are
designed, developed and tested at our corporate headquarters in
Vancouver, BC, Canada. Production takes place in factories
located in North America and
Asia.
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.
SOURCE RYU Apparel Inc.
