RYU Apparel Provides Corporate Update

VANCOUVER, BC / ACCESSWIRE / September 30, 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, is issuing this press release to provide a corporate update and message from Marcello Leone, Chief Executive Officer of RYU Apparel.

“As we are fast approaching the launch of our new product, I am pleased to update our shareholders on RYU Apparel’s current operations.

During the three months ended June 30, 2015, gross profit was 78% compared to 61% for the three months ended March 31, 2015. As at June 30, 2015, RYU Apparel had current assets of $932,262 and a working capital surplus of $424,658.

Originally management anticipated that the website and the opening of our Flagship Store would take place during September 2015. Due to normal construction delays and permit requirements by the City of Vancouver, management believes the store will officially be open for business early November. Truly amazing product inventory continues to be delivered and we are excited to share our new designs with the public.

Our launch strategy is to have our new e-commerce website and Flagship Store opening simultaneously. All of our old inventory that was sitting idle in our 3PL storage has been sold and management is pleased to report that RYU Apparel will launch with all new inventory and new game changing products featuring patent pending technologies and proprietary fabrics.

The management team continues to execute on its business plan and is excited to have reached the following recent milestones:
– Development of an unmistakable brand DNA
– Creation of an ATHLETIC TECH APPAREL brand
– Sale of all obsolete inventory
– Extinguishment of all long-term debt
– Prepayment of all construction costs for its new 5,700 square foot Flagship Store in Vancouver, B.C.

RYU Apparel is current on all payables and is actively searching for two additional store locations for 2016. The company is considering financing options on favorable terms for the company.

Management appreciates all the support from its shareholders and believes the company will have many more exciting developments to share in the next few months.”

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: http://ryu.com

On Behalf of the Board

RYU APPAREL, INC.
“Marcello Leone”
Marcello Leone, CEO, President and Chairman of the Board
Tel: 604-235-2880

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

Anna Brazier
Tel: +1 877 367 0704​
Email: ir@ryu.com

Media Inquiries

Katie Stevens
Talk Shop Media
Katies@talkshopmedia.com
604-738-2220

Forward-Looking Statements

Statements regarding the launch of new products, store opening dates, launch strategy, additional store openings and the belief that the company will have many more exciting developments 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 the company will execute on its business plan, raise additional financing as and when required, receive all permits for store openings and find suitable locations for additional stores. 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.

ReleaseID: 432317