Company sells 8.75 million units of one share and one warrant via deal
By Devika Patel
Knoxville, Tenn., April 8 – RYU Apparel, Inc. said it has arranged a C$1.75 million non-brokered private placement of units.
The company will sell 8.75 million units of one common share and one warrant at C$0.20 per unit.
Each warrant will be exercisable at C$0.50 for three years. The strike price reflects a 177.78% premium to the April 7 closing share price of C$0.18.
Proceeds will be used for expansion of new stores, inventory and general working capital purposes.
The fitness apparel brand is based in Vancouver, B.C.
| Issuer: | RYU Apparel, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.75 million
|
| Units: | 8.75 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | April 8
|
| Stock symbol: | TSX Venture: RYU
|
| Stock price: | C$0.18 at close April 7
|
| Market capitalization: | C$13.2 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
