VANCOUVER, British Columbia,
Aug. 18, 2014 /PRNewswire/ -- Respect
Your Universe, Inc. (TSX VENTURE: RYU) (OTCQB: RYUN)
("RYU"), an athletic lifestyle apparel brand
designed for all disciplines of movement, announced today that
its Board of Directors granted options to acquire up to 6,350,000
shares of RYU's common stock at an exercise price of $0.30 per share. The options were granted to
RYU's new management team, consultants and employees with a
combined 100+ years experience in retail, operations and
international sales.
The new management team is being granted 5,100,000 options. The
1,600,000 options granted to RYU's CEO are subject to shareholder
approval, because it exceeds to plan limit. RYU believes that its
new management team will be focused on making RYU profitable as, in
the aggregate, 6.5% of these options vest after one year, 9.8% of
these options vest after two years, and 83.7% of these options only
vest with RYU reporting positive net income and cash from
operations. The Board of Directors of RYU believes this vesting
schedule is in the best interest of shareholders of RYU.
Marcello Leone, RYU's CEO,
President and Chairman, stated, "These are very exciting times
for RYU as we come out of a turnaround situation with a powerful
and capable team and infrastructure. We have been fortunate to
attract key people with successful hands-on experience and
entrepreneurial passion that cover fashion, apparel, retail and
operations. The team is driven by the equity upside which is now
focused on profitability and aligned with shareholders."
About RYU
Respect Your Universe, Inc. is a performance
apparel brand designed for athletes and active adults. Crafted from
organic and/or earth-friendly materials, RYU apparel enhances
movement, is extremely comfortable and healthy for the environment.
Founded in 2008, RYU has incorporated the lessons learned from
mixed martial arts into beautiful everyday performance wear. For
more information, visit www.ryu.com.
On Behalf of the Board
RESPECT YOUR UNIVERSE, INC.
Marcello Leone, CEO,
President and Chairman of the Board
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Investor Relations
Tel: +1 877 367
0704
Email: ir@ryu.com
Hayden IR
hart@haydenir.com
917-658-7878
Media Inquiries
Public Relations
Respect Your Universe, Inc.
Tel: +1 877 798 8326
Email: pr@ryu.com
Statements regarding the future profitability of RYU and the
focus of the new management team are "forward- looking statements",
which are subject to risks and uncertainties, 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. These
risks and uncertainties include, among others, that RYU's business
plan is dependent on additional financing, which it may be unable
to obtain on terms acceptable to RYU, changes in general economic
or market conditions that could impact consumer demand for RYU's
products, and RYU's ability to execute on its business plan. Except
as required by law, RYU undertakes no responsibility to update any
of the forward-looking statements contained in this news
release.
SOURCE Respect Your Universe, Inc.