VANCOUVER, April 13, 2016 /CNW/ - RYU Apparel Inc. (TSX VENTURE: RYU & Frankfurt Stock Exchange: RYA), is a global, tailored technical apparel and accessories brand engineered for the fitness, training and performance of the multi-discipline athlete, is pleased to announce that, further to its news release dated April 8, 2016, it has closed the first tranche of the private placement, which consisted of 1,595,850 Units (each, a "Unit") at a price of $0.20 per Unit for proceeds of $319,170. Each Unit consists of one common share (a "Share") and one warrant, which entitles the holder to purchase one additional Share at a price of $0.50 per Share for a period of three years.
All securities issued pursuant to the Financing will be subject to a statutory hold period expiring four months and one day after April 12, 2016.
None of the securities issued in connection with the Financing will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
For regular updates on RYU Apparel visit: http://ryu.com
RYU Apparel Inc. is a global, tailored technical apparel and accessories brand engineered for the fitness, training and performance of the multi-discipline athlete. Designed without compromise, RYU exists to facilitate human performance. For more information, visit: http://ryu.com
On Behalf of the Board
RYU APPAREL INC.
Marcello Leone, CEO, President and Chairman of the Board
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE RYU Apparel Inc.
For further information: Investor Relations: Contact: Anna Brazier, Investor Relations, 1-844-535-2880, email@example.com, www.ryu.com; For Media inquiries, contact: Katie Stevens, 778-686-0906, firstname.lastname@example.org