VANCOUVER, May 6, 2019 /CNW/ - RYU Apparel Inc. (TSXV: RYU, OTCQB: RYPPF) ("RYU" or the "Company") announces that it has been delayed in filing its audited annual financial statements for the year ended December 31, 2018, the related management's discussion and analysis and certificates of its CEO and CFO (collectively, the "Filings") with Canadian securities regulators beyond the deadline of April 30, 2019.
The Company is working diligently with its auditors to make the Filings as soon as possible. Subject to the completion of remaining customary audit procedures, the Company expects to complete the required filings on or before Thursday, May 9, 2019.
In connection with this delay, the Company expects that the British Columbia Securities Commission ("BCSC") will be issuing a failure-to-file cease trade order ("FFCTO") against the Company. When issued, the Company expects the FFCTO to affect trading in all securities of the Company by securityholders of the Company, to apply in each jurisdiction in Canada in which the Company is a reporting issuer in Canada and to remain in effect until such time as the Company has made the Filings. Once the Filings are made (within 90 days of the date of the FFCTO), such filings will constitute the Company's application to have the FFCTO revoked.
For regular updates on RYU Apparel visit: http://ryu.com
Respect Your Universe is an award winning urban athletic apparel and accessories brand engineered for the fitness, performance and lifestyle of the athletic man and woman. 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.
Marcello Leone, CEO
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation, statements pertaining to the estimated timing of the Company making the Filings, and related expectations regarding the issuance of, and revocation of, the FFCTO. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Forward-looking statements are based on estimates and opinions of management of the Company at the time the information is presented. The Company may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.
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.
For further information: Investor Relations: Anna Brazier, Investor Relations, 1-844-535-2880, email@example.com, www.ryu.com; For Media inquiries, contact: Jackie Reed (USA PR), Head of Fashion, Jackie.firstname.lastname@example.org, +1 212-226-2530; Samantha Detwiller (Canada), email@example.com