SOURCE: Respect Your Universe, Inc.
LAS VEGAS, NV--(Marketwire - Aug 3, 2012) - Today, Respect Your Universe, Inc. (RYU) (OTCBB: RYUN) http://www.ryu.com/, a premium performance apparel and equipment company rooted in and inspired by Mixed Martial Arts, is pleased to announce the completion this morning of a public offering (the "Offering") of shares of common stock (the "Shares") pursuant to a long form prospectus filed in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick and Nova Scotia and a registration statement filed with the Securities and Exchange Commission on Form S-1 in the United States. In the Offering, RYU sold a total of 5,882,500 Shares at a price of $0.85 per Share for total gross proceeds of $5,000,125.
RYU is also pleased to announce that, effective at the opening of the market on August 3, 2012, the Shares were listed on the TSX Venture Exchange (the "TSXV"). The TSXV has halted the trading in the Shares pending receipt of final documentation of the public offering. RYU anticipates that the Shares will trade on the TSXV on or about August 9, 2012 under the symbol "RYU".
Salman Partners Inc. acted as placement agent for the offering.
"We are extremely pleased to announce the closing of the Offering," said RYU Chairman, Kristian Andresen. "We look forward to our listing on the TSXV, and believe it is a step in the continued success of our growing brand."
For more information on RYU visit http://www.ryu.com or call +1-888-455-6183 ext. 101.
About Respect Your Universe
Respect Your Universe, Inc. (OTCBB: RYUN) is a premium performance apparel and equipment company rooted in and inspired by Mixed Martial Arts. Focused on the needs of the athlete, RYU brings innovative design, development and production of premium authentic performance gear with style to mixed martial artists and athlete enthusiasts worldwide. The RYU brand is based on respect, strength, honor and sustainability. Respect to the End.
Safe Harbor Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements". Forward-looking statements are statements that are forecasts of future results, estimates that are based on assumptions of management. Forward-looking statements in this press release include statements regarding the anticipated date that the Shares will trade on the TSXV and RYU's belief that the listing is a step in the continued success of its growing brand. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RYU to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the trading of the Shares on the TSXV may be delayed due to various factors including a delay on the part of RYU in submitting final documents and on the part of the TSXV in reviewing final documents. Although RYU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.