Respect Your Universe Inc (RYU)

[TH_Stockhunter]

Respect Your Universe, Inc. Announces Closing of Private Placement

LAS VEGAS, NV -- (Marketwire) -- 01/21/13 -- Respect Your Universe, Inc. (TSX VENTURE: RYU) (OTCBB: RYUN) ("RYU") is pleased to announce that it has completed a private placement (the "Financing") of 2,000,000 shares of common stock of RYU (each a "Share") at a price of US$0.50 per Share for gross proceeds of US$1,000,000. The proceeds from the sale of the Financing are anticipated to fund general operations of RYU.
In connection with the Financing, RYU paid one finder a finder's fee of 5% cash and 5% warrants on the gross proceeds received by RYU from investors introduced to RYU through the finder. RYU paid commission of approximately US$50,000 and issued 100,000 finder's warrants, with each finder's warrant exercisable into one Share at a price of US$0.50 for a period of 24 months from the date of issuance.

RYU is seeking up to an additional $4,000,000 on the same terms as the Financing.
All securities issued in connection with the Financing will be subject to a statutory four month hold period and applicable US hold periods. None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.


http://www.investorpoint.com/news/OTCBULLB/57379188/