VANCOUVER, British Columbia, July 23, 2013 (GLOBE NEWSWIRE) -- Naked Brand Group Inc. ("Naked" or the "Company") (OTCQB:NAKD), a global lifestyle brand, is pleased to announce the appointment of Andrew J. Kaplan to the Company's Board of Directors. Mr. Kaplan brings extensive experience in corporate finance, having helped raise in excess of $500 million for his clients over the past ten years. He also brings an in-depth understanding of public markets through his 18-years of experience as the Vice President of Barry Kaplan Associates, an investor relations firm that works with small- and medium-sized public and private companies. Prior to this, Mr. Kaplan worked with major investment firms, as well as a boutique investment bank specializing in financing IPO's and reverse mergers. Mr. Kaplan received his BSBA in Finance and Insurance from the University of Hartford in 1989.
In connection with Mr. Kaplan's appointment as a director, we have agreed to issue him an aggregate of 450,000 stock options as follows:
(i) 150,000 stock options entitling Mr. Kaplan to purchase 150,000 shares of common stock at a price of $0.25 per share;
(ii) 150,000 stock options entitling Mr. Kaplan to purchase 150,000 shares of common stock at a price of $0.50 per share; and
(iii) 150,000 stock options entitling Mr. Kaplan to purchase 150,000 shares of common stock at a price of $0.75 per share,
with each option exercisable for a period of two years from the date of grant, on terms and conditions as set out in our 2012 Stock Option Plan and stock option agreements to be entered between the Company and Mr. Kaplan. 50% of the options will vest on the date of grant and the remaining 50% to vest one year from the date of grant.
"We are delighted to welcome Andrew to our board of directors," Joel Primus, President of Naked states. "Andrew brings a wealth of knowledge and relationships throughout North America, as well as a deep understanding of investor relations, public markets and financing which will be invaluable to the company as we expand into new verticals and launch our women's line," concluded Joel.
Mr. Kaplan states, "I am very pleased to join Naked's Board and be part of such a dynamic team. I believe that Naked has the potential to become a major retail brand and feel that my career working with emerging growth companies will add value to the board. I look forward to helping them grow by accessing institutional shareholders and capital."
About Naked Brand Group Inc.
Naked is a global lifestyle brand focused on enhancing the architecture of the body. Every collection features impeccably tailored light-weight garments that seamlessly forms to your body making you feel like you're wearing nothing at all. Naked is sold in high-end boutiques and department stores throughout North America including Nordstrom, Holt Renfrew, Boys'co, and Freshpair.com. A donation from every purchase helps to support Project World Citizen, a charity driven to empower and educate the children of Ghana. Naked® has garnered tremendous media exposure having been featured on The View, ABC, FOX LA, (ET) Canada and on The Dragons' Den.
This news release contains "forward-looking statements". Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, such as the following: (1) Andrew Kaplan's experience will be invaluable to the company; and (2) Andrew Kaplan's belief and opinion about the company's outlook. These forward-looking statements are based on management's current expectations but they involve a number of risks and uncertainties. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) an economic downturn or economic uncertainty in the Company's key markets; (2) the Company's inability to timely develop and deliver its new product line to the market and to meet customer expectations due to unforeseen problems or delays with the design, development, manufacturing and distribution system; (3) the Company's inability to effectively manage the growth and the increased complexity of its business as a result of the launch of a new product line; (4) the company's highly competitive market including increasing price competition and other business and competitive factors; (5) the Company's failure to maintain the value and reputation of its brand; (6) the Company's ability to retain the employees necessary to design and development its products; (7) the ability of the Company to control costs operating, general administrative and other expenses; (9) insufficient investor interest in the Company's securities which may impact on the Company's ability to raise additional financing as required and (10) and other risk factors detailed in the Company's public filings. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. The forward-looking statements made herein speak only as of the date of this press release and, except as required by applicable laws, the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Readers should also refer to the risk disclosures outlined in the Company's quarterly reports on Form 10-Q, annual reports on Form 10-K and the Company's other disclosure documents filed from time-to-time with the Securities and Exchange Commission at www.sec.gov and the Company's interim and annual filings and other disclosure documents filed from time-to-time on SEDAR at www.sedar.com.