RYU Apparel Clarifies Terms of Shares for Debt Transaction

Vancouver, British Columbia--(Newsfile Corp. - October 6, 2022) - RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FSE: RYAA) ("RYU" or the "Company"), creator of urban athletic apparel, announces that further to its news release dated September 27, 2022, it wishes to correct the details of its intended shares for debt transaction. The Company intends to settle debt in the amount of $21,112.50 owed by the Company in exchange for the issuance 422,250 common shares at a deemed price of $0.05 per share. The proposed debt settlement is subject to the approval of the TSX Venture Exchange (the "Exchange").

This press release has been issued to correct an error in a press release disseminated on September 27, 2022. The previous press release mistakenly announced the Company's intention to settle certain debt in the amount of $19,549.50 owed by the Company in exchange for the issuance of 2,604,129 common shares at a deemed price of $0.04 per share.

On Behalf of the Board,
RYU Apparel Inc.
"Cesare Fazari"
Cesare Fazari, CEO
Tel: 416-434-5750

About RYU Apparel Inc.

RYU (TSXV: RYU) (OTCQB: RYPPF), or Respect Your Universe, is an award winning urban athletic apparel and accessories brand engineered 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

Neither the Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

For further information: RYU APPAREL INC., Cesare Fazari, CEO, Tel: 416-434-5750 Corporate Communications: [email protected]

Forward-Looking Statements Disclaimer

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

This news release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of RYU, such as the proposed shares for debt transaction and Exchange approval thereof. 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; (ii) the inability of RYU to close the shares for debt transaction; or (iii) the Exchange not approving the shares for debt transaction. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on 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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139803