VANCOUVER, March 6, 2018 /CNW/ - RYU Apparel Inc. (TSX
VENTURE: RYU & Frankfurt Stock Exchange: RYA) ("RYU" or
the "Company"), creators of urban athletic apparel, is
pleased to announce the appointment of Mr. Cesare Fazari to the Advisory Board and the
grant of stock options.
Cesare Fazari
The Company is pleased to announce the appointment of Mr.
Cesare Fazari to its Advisory Board,
effective March 1, 2018. Mr. Fazari
is a shareholder and a proud supporter of the RYU brand.
As a founding partner in Northwood Developments for more than 30
years, Mr. Fazari has successfully specialized in commercial retail
rollout, completing thousands of turnkey locations with major
commercial franchises such as Shoppers Drug Mart, Marshalls, Trade
Secrets and Public Mobile to name a few. With his entrepreneurial
vision, Mr. Fazari has been the seed Venture Capital investor in
many successful public companies such as Hydropothacary Corp.,
Ianthus, Drone Delivery Services, and others. Mr. Fazari also sits
on the board as a director of the public merchant bank Fountain
Asset Corporation and is on the advisory board of several public
and private companies. Further, he has a vast portfolio of over one
million square feet of real estate holdings which include hundreds
of residential units and hundreds of thousands of square feet of
commercial office space, commercial retail, industrial space and
land. His philanthropic nature has led him to be actively
involved in charitable organizations including The Breakfast Club
of Canada, The Canadian Cancer
Society and the Good Shepard Food Bank. Together with his
wife for over 30 years, they have raised three sons who together
are all active in the family business. As a visionary, Mr. Fazari
continues to build a portfolio of assets spanning across several
industries.
Mr. Fazari said: "I am thrilled to join the RYU family as we all
share the same beliefs and vision for the Company. I am excited to
offer my guidance and use my experience building companies to help
bring RYU to the next level."
In connection with Mr. Fazari's appointment, the Company entered
into a Corporate Advisor Agreement dated March 1, 2018, whereby, among other terms, the
Company agreed to grant him 2,500,000 stock options at the exercise
price of $0.29 per common share until
expiry on March 2, 2028.
Stock Option Grant
The Company announces that it has granted 3,610,000 stock
options to its executive officers, 700,000 stock options to its
directors, 3,925,000 to employees, and 3,300,000 stock options to
consultants (including the amount for Mr. Fazari) for the purchase
of up to an aggregate 11,535,000 common shares of the Company,
pursuant to its Long-Term Performance Incentive Plan, at a price of
$0.29 per common share. Common shares
issuable upon the exercise of stock options held by directors and
officers of the Company will be subject to a hold period imposed by
the TSX Venture Exchange of four months and one day from the date
of the grant of the stock options.
Each option granted to executive officers, directors, employees
and certain consultants is exercisable for a period of two to ten
years. These stock options vest as follows: (i) 9,972,500 stock
options vest immediately, (ii) as to 150,000 stock options, 25%
vest after 3 months, 25% vest after 6 months, 25% vest after 9
months, and (iii) as to 1,412,500 stock options, vest after 1
year.
For regular updates on RYU Apparel visit: http://ryu.com.
About RYU
Respect Your Universe is an award winning
urban athletic apparel and accessories brand engineered for the
fitness, performance and lifestyle of the athletically minded man
and woman. 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"
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 press release.
SOURCE RYU Apparel Inc.