VANCOUVER, BC, June 3, 2022 /PRNewswire/ – RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYA) (“RYU“or the”Company“), creator of award-winning urban sportswear, is pleased to welcome Robert Lelovic, CA, CPA as its new Chief Financial Officer (CFQO).
Mr. Lelovic brings two decades of experience building public companies in a variety of industries, from technology companies in Silicon Valley to the energy sector in Canada’s oilfields and Toronto’s financial district.
During his tenure as Senior Director at PricewaterhouseCoopers, Mr. Lelovic gained extensive experience not only in the preparation and review of financial information for publicly listed companies, but also includes, but is not limited to, implementation of corporate governance practices and regulatory reporting, including prospectuses, for both CSO and SEC clients. He has overseen a wide variety of engagements including budget reviews, audits, IPOs, due diligences and special reports such as IFRS diagnostics and preparation of white papers, GAAP reconciliations and internal control reports .
Mr. Lelovic commented, “I am delighted to join the talented and hardworking team at RYU. As a fan of the brand and a user of their fantastic products, I am thrilled to have the opportunity to support the advancement of strategic growth plans, while executing on the financial reporting and control environment that enables management team to continue doing what they do best.”
In addition to appointing Mr. Lelovic as Chief Financial Officer, the Company issued a total of 7,722,000 options to purchase common shares of the Company of which 2,250,000 of the options issued were for directors and/or officers of the society. Options vest immediately and may be exercised for a period of 5 years from the date of grant at the price of $0.055 per ordinary share.
About RYU Clothing
RYU Apparel (TSXV: RYU, OTCQB: RYPPF), or Respect Your Universe, is an award-winning brand of urban athletic apparel and accessories designed for active lifestyles. Designed without compromise for fit, comfort and durability, RYU exists to facilitate optimal human performance. For more information, please visit the RYU website at: http://ryu.com
Disclaimer of Forward-Looking Statements
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. Press.
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information may include, but is not limited to, statements based on current expectations involving a number of risks and uncertainties and are not guarantees of RYU’s future performance. There are numerous risks and uncertainties that could cause actual results and RYU’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions resulting in RYU’s inability to raise the necessary funding to enter into and make payments under the proposed definitive agreements; (ii) RYU’s failure to obtain necessary approvals with respect to the proposed arrangements, including approvals necessary to issue the RSUs; and (iii) the inability to restructure and transform its business as needed. Actual results and future events could differ materially from those anticipated in this information. These written and oral forward-looking statements and all subsequent forward-looking statements are based on management’s estimates and opinions as of the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, RYU does not intend to update these forward-looking statements.
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SOURCE RYU Clothing Inc.