Expects to Continue to be a Reporting Issuer in Canada and File Disclosure Documents on SEDAR
VANCOUVER, BC / ACCESSWIRE / May 12, 2015 / RYU Apparel Inc. (TSX VENTURE: RYU), a global, athletic tech-style apparel brand engineered for the fitness, training and performance of the multi-discipline athlete, announces that it has decided to deregister from the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Among other factors, RYU considered the cost savings to be realized by RYU by eliminating its obligations to file reports with the Securities and Exchange Commission (the "SEC").
RYU is eligible to deregister its stock because it has fewer than 300 shareholders of record. RYU anticipates filing a Form 15 with the SEC to suspend its reporting requirements under the Exchange Act. Upon filing of the Form 15, RYU will no longer be obligated to file certain Exchange Act reports with the SEC.
RYU anticipates it will continue to be a reporting issuer in Canada and file disclosure documents on SEDAR.
For regular updates on RYU Apparel visit: https://www.facebook.com/RYUapparel.
About RYU
RYU Apparel Inc. is a global, athletic tech-style apparel 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 www.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.
Investor Relations
Tel: +1 877 367 0704
Email: ir@ryu.com
Hayden IR
hart@haydenir.com
917-658-7878
Media Inquiries
Katie Stevens
Talk Shop Media
Katies@talkshopmedia.com
604-738-2220
Statements regarding the future growth of RYU, that RYU can create the next iconic brand and that RYU has established a team to create and deliver the newest, most innovative apparel, brands, and accessory platforms in the market are "forward- looking statements," which are subject to risks and uncertainties, which may cause the actual results, performance or achievements of RYU to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that RYU's business plan is dependent on additional financing, which it may be unable to obtain on terms acceptable to RYU, changes in general economic or market conditions that could impact consumer demand for RYU's products, and RYU's ability to execute on its business plan. The material assumptions supporting these forward-looking statements include, among other things: RYU's ability to obtain any necessary financing on acceptable terms; timing and amount of capital expenditures; the enforcement of its intellectual property rights; continuation of current tax and regulatory regimes; and general economic and financial market conditions. Except as required by law, RYU undertakes no responsibility to update any of the forward-looking statements contained in this news release.
SOURCE: RYU Apparel Inc.