RYU Apparel Inc. announced the appointment of Cesare Fazari, founding partner in Northwood Developments, to the Advisory Board and the grant of stock options.
Cesare Fazari
The company is pleased to announce the appointment of Cesare Fazari to its Advisory Board, effective March 1, 2018. Fazari is a shareholder and a supporter of the RYU brand.
As a founding partner in Northwood Developments for more than 30 years, Fazari has successfully specialized in commercial retail rollout, completing thousands of turnkey locations with major commercial franchises such as Shoppers Drug Mart, Marshalls, Trade Secrets and Public Mobile, to name a few. With his entrepreneurial vision, Fazari has been the seed Venture Capital investor in many successful public companies such as Hydropothacary Corp., Ianthus, Drone Delivery Services and others. Fazari also sits on the board as a director of the public merchant bank Fountain Asset Corporation and is on the advisory board of several public and private companies. Further, he has a vast portfolio of over one million square feet of real estate holdings which include hundreds of residential units and hundreds of thousands of square feet of commercial office space, commercial retail, industrial space and land. His philanthropic nature has led him to be actively involved in charitable organizations including The Breakfast Club of Canada, The Canadian Cancer Society and the Good Shepard Food Bank. Together with his wife for over 30 years, they have raised three sons who together are all active in the family business. As a visionary, Fazari continues to build a portfolio of assets spanning across several industries.
Fazari said, “I am thrilled to join the RYU family, as we all share the same beliefs and vision for the company. I am excited to offer my guidance and use my experience building companies to help bring RYU to the next level.”
In connection with Fazari’s appointment, the company entered into a Corporate Advisor Agreement dated March 1, 2018, whereby, among other terms, the company agreed to grant him 2,500,000 stock options at the exercise price of $0.29 per common share until expiry on March 2, 2028.
Stock Option Grant
The company announces that it has granted 3,610,000 stock options to its executive officers, 700,000 stock options to its directors, 3,925,000 to employees and 3,300,000 stock options to consultants (including the amount for Fazari) for the purchase of up to an aggregate 11,535,000 common shares of the company, pursuant to its Long-Term Performance Incentive Plan, at a price of $0.29 per common share. Common shares issuable upon the exercise of stock options held by directors and officers of the company will be subject to a hold period imposed by the TSX Venture Exchange of four months and one day from the date of the grant of the stock options.
Each option granted to executive officers, directors, employees and certain consultants is exercisable for a period of two to ten years. These stock options vest as follows: (i) 9,972,500 stock options vest immediately, (ii) as to 150,000 stock options, 25 percent vest after 3 months, 25 percent vest after 6 months, 25 percent vest after 9 months and (iii) as to 1,412,500 stock options, vest after one year.
