RYU Apparel completes $3.7M short form prospectus offering

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By Ted Liu

RYU Apparel Inc. (TSX-V: RYU; FSE: RYA) has completed previously announced short form prospectus offering of 24,896,271 common shares at $0.15 per share for gross proceeds of $3,734,440.65.

Canaccord Genuity Corp. acted as an agent and was paid a commission of $261,410.85 in cash and issuance of 1,742,739 warrants. RYU Apparel also paid the agent a corporate finance fee of $125,000, consisting of $62,500 in cash and $62,500 in common shares.

Clark Wilson LLP and Miller Thomson LLP acted as legal counsels to RYU Apparel and the agent respectively.

photo credit: RYU Apparel