RYU Apparel Inc., the fitness apparel specialist based in Vancouver, announced that it has closed a final tranche of the non-brokered private placement financing of up to 80 million units at a price of $0.075 per unit for gross proceeds of up to $6 million.
The final tranche completes the financing for a total raise of $4.3 million. The company has changed direction to not dilute at this moment as it is in discussions with various strategic investors to fund the business on a going forward basis through all avenues, including non-dilutive debt financing structures. The company’s chief executive officer and a company controlled by the chief executive officer of the company subscribed for a total of 2,67 million units under the final tranche.
More details are available here.
