RYU Apparel Inc. (TSXV: RYU, OTCQB: RYPPF) ('RYU' or the 'Company'), creator of urban athletic apparel, is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12203 - Management Cease Trade Orders ('NP 12203').

On June 11, 2020, the Company announced (the 'Default Announcement') that it made an application to the British Columbia Securities Commission (the 'BCSC') to approve a temporary management cease trade order ('MCTO') on the basis that it would be unable to file its annual consolidated financial statements, accompanying management's discussion and analysis and related CEO and CFO certifications, for the year ended December 31, 2019 (the 'Annual Filings') within the extended deadline for filing the same under British Columbia Instrument 51515 Temporary Exemption from Certain Corporate Finance Requirements ('BCI 51515'). The application was approved by the BCSC on June 11, 2020 and the MCTO was issued by the BCSC on June 16, 2020. The MCTO prohibits trading in securities of the Company by certain insiders of the Company, whether direct or indirect. There have been no material changes to the information contained in the Default Announcement or any other changes required to be disclosed under NP 12203.

The Company anticipates that the Annual Filings will be filed on or before July 15, 2020. The Company will continue to provide biweekly updates, as required by NP 12203, until the Annual Filings have been filed. The Company confirms it will continue to satisfy the provisions of the alternative information guidelines set out in Sections 9 and 10 of NP 12203 so long as it remains in default of the requirement to file the Annual Filings.

About RYU

Respect Your Universe is an award winning urban athletic apparel and accessories brand engineered for fitness, performance and lifestyle. Designed without compromise for fit, comfort, and durability, RYU exists to facilitate human performance.

Contact:

Tel: 18445352880

Forward Looking Statements

This news release includes certain 'forward looking statements' under applicable Canadian securities legislation. Forward looking statements include, but are not limited to, statements with respect to the ability of the Company to file the Annual Filings and the anticipated filing date thereof. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to that the Company may experience additional delays as a result of the COVID 19 pandemic and be unable to make the Required Filings as expected or within the times indicated. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Forward looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publically any forward looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. Readers should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents the Company has filed on SEDAR, available at www.sedar.com.

(C) 2020 Electronic News Publishing, source ENP Newswire