RYU (RYPPF) Announces Change in Management Structure: CEO Cesare Fazari to Assume Interim CFO Responsibilities

Nov 25th, 2022 14:24 EST

Toronto, Ontario--(Newsfile Corp. - November 25, 2022) - RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FSE: RYAA) ("RYU" or the "Company"), a cutting-edge lifestyle brand, and creator of award-winning urban athletic apparel that facilitates human movement, has announced a change in management structure and the relocation of its corporate headquarters to Toronto, Ont. from Vancouver, B.C. The Company has accepted the resignations of former COO Robert Blair and former CFO Robert Lelovic. Cesare Fazari will continue as CEO and assume interim CFO responsibilities, until a replacement is found. Blair joined the company in January 2021, with Lelovic starting in June 2022.

"These changes are what is best for the Company now as we restructure our operations to build and grow the many advanced technology partnerships and alliances that will help achieve our goal of being a socially responsible aspirational global lifestyle brand," Fazari said. "Respect Your Universe (RYU) is the basis of our brand and our operations, and we will continue to lead the market through hard work and a focus on execution."

About RYU Apparel(TSXV: RYU) | (OTCQB: RYPPF)RYU (Respect Your Universe) is a movement-focused apparel brand. Headquartered in Toronto, Canada, we create multi-purpose clothing, bags and accessories for performance and everyday wear. RYU is an experiential omni-channel retailer and sells its products in Canada and the United States through strategic wholesale accounts and online via its e-commerce site www.ryu.com.

Forward-Looking Statements Disclaimer

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 statements that: the Company intends to realize on partnership opportunities and achieve future growth. 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) inability to finance growth; and (iii) the risk factors set out in the Company's periodic reports available at www.sedar.com. 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.

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.

RYU APPAREL INC.Cesare FazariChairman & Chief Executive Officer416-434-5750[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145779


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