PORTLAND, Ore., June 30, 2014 /PRNewswire/ -- Respect Your
Universe, Inc. (TSX VENTURE: RYU) (OTCQB: RYUN) ("RYU")
announces that it has received the approval of the TSX Venture
Exchange and Financial Industry Regulatory Authority to amend its
share structure by consolidating its authorized share capital and
the fully paid and issued common shares (the "Shares") of
the Company on the basis of one (1) post-consolidated Share for
each two (2) pre-consolidated Shares issued and outstanding (the
"Consolidation"). The authorized capital of RYU is currently
500,000,000 shares of common stock with a par value of $0.001. After the Consolidation the authorized
capital will be 250,000,000 shares of common stock with a par value
of $0.001. At June 27, 2014, the total number of issued and
outstanding Shares of the Company was 107,873,500.
Accordingly, the total number of Shares issued and outstanding
after the Consolidation is expected to be 53,936,750. The
effective date of the Consolidation is anticipated to be
June 30, 2014.
RYU anticipates the Consolidation will provide RYU with
increased flexibility to seek additional financing
opportunities.
There is no name change in conjunction with the
Consolidation.
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.
/s/ Marcello Leone
Marcello Leone
President and Director
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.
SOURCE Respect Your Universe, Inc.