VANCOUVER, June 7, 2018 /CNW/ - RYU Apparel Inc. (TSXV: RYU) ("RYU" or the "Company"), creator of urban athletic apparel, is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. ("Canaccord") to join the Canaccord Genuity Opportunities for the Longer Term Program (the "COLTS Program").
The COLTS Program is a capital markets initiative that will profile high growth and small-cap companies, such as RYU. The strategic aim of RYU's participation in the COLTS Program is to support RYU's growth and broaden its exposure to investors, both retail and institutional.
Ongoing COLTS Program services will include:
- assisting with RYU's market communications strategy;
- building RYU's market profile domestically and offshore;
- publishing company profiles on RYU under the Canaccord COLTS banner;
- providing investment banking expertise and capital markets advisory services; and
- providing investor relations support, such as introductions to relevant institutional and strategic investors.
In connection with the COLTS Program, the Company has agreed to issue Canaccord 22.8 million warrants to acquire common shares of the Company in two tranches:
- 11,379,810 warrants with an exercise price of $0.25 per common share, exercisable for a period of 12 months from the date of the first COLTS publication; and
- 11,379,810 warrants with an exercise price of $0.30 per common share, exercisable for a period of 24 months from the date of the first COLTS publication.
This type of compensation has been established to align Canaccord with RYU's growth trajectory and to incentivize Canaccord to assist in building the Company's profile.
"We are excited to partner with Canaccord on this longer-term initiative," said Marcello Leone, CEO of RYU. "We are optimistic that the COLTS Program will benefit RYU by providing increased exposure of our story to a broader set of investors and successfully drive further stock performance as the Company executes its business plan."
The agreement with Canaccord and all matters contemplated as part of the COLTS Program are subject to the prior acceptance and approval of the TSX Venture Exchange.
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 athletically minded men and women. Innovatively designed without compromise and tailored 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, 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.
This news release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the statement that: the COLTS Program services will include: assisting with RYU's market communications strategy; building RYU's market profile domestically and offshore; publishing company profiles on RYU under the Canaccord COLTS banner; providing investment banking expertise and capital markets advisory; providing investor relations support, such as introductions to relevant institutional and strategic investors; and that the COLTS Program will benefit RYU by providing increased exposure to its story to a broader set of investors and successfully drive further stock performance as the Company executes its business plan. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including the ability of the Company to finance operations, the ability of the management team to execute on its business plan, risks in the apparel industry in general, and delays and risks associated with renovating and opening new store locations. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
SOURCE RYU Apparel Inc.
For further information: Investor Relations, Contact: Anna Brazier, Investor Relations, 1-844-535-2880, [email protected], www.ryu.com; For Media inquiries, contact: Oliver Wheeler, CEO THRSXTY, +44 20 7580 8360, [email protected]