GlobeNewswire Inc | Sep 25, 2020 03:21PM EDT

September 25, 2020

- Brown Advisory, Greenhouse Funds and TT Investimentos to Participate in an Offeringof Common Stock Expected to Provide Greater Optionality in Evaluating Market Opportunities and Facilitate Future Growth

SALT LAKE CITY, Sept. 25, 2020 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (Clarus and/or the Company), a company focused on the outdoor and consumer industries, announced today that it has entered into an agreement with three of its top 10 investors (the Investors) for the sale of 900,000 registered shares of the Companys common stock at $12.75 for total proceeds of approximately $11.5 million.

The InvestorsBrown Advisory, Greenhouse Funds and TT Investimentos have each determined to increase their investment in recognition of managements past execution and in support of the Companys longterm growth strategy. The net proceeds from this sale will be used for working capital and general corporate purposes.

As we evaluate new market opportunities to facilitate our longterm growth strategy, we believe that our strong balance sheet gives us greater optionality within our capital structure, said John Walbrecht, president of Clarus. This strategic financing from three of our top 10 shareholders is expected to enhance our liquidity and strengthen our market position. Even before this transaction, we anticipate generating strong free cash flows and we remain on track to be nearly debtfree at year end. We are grateful to our shareholders for their continued support as we continue to seek to preserve our brands equity and execute on our innovate and accelerate playbook across our portfolio.

About Clarus CorporationHeadquartered in Salt Lake City, Utah, Clarus Corporation is a leading developer, manufacturer and distributor of bestin class outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport markets. With a strong reputation for innovation, style, quality, design, safety and durability, Clarus portfolio of iconic brands includes Black Diamond, Sierra, PIEPS, and SKINourishment sold through specialty and online retailers, distributors and original equipment manufacturers throughout the U.S. and internationally. For additional information, please visit www.claruscorp.com or the brand websites at www.blackdiamondequipment.com,www.sierrabullets.com,or www.pieps.com.

ForwardLooking StatementsPlease note that in this press release we may use words such as appears, anticipates, believes, plans, expects, intends, future, and similar expressions which constitute forwardlooking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forwardlooking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forwardlooking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forwardlooking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forwardlooking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company's customers; the Company's ability to implement its business strategy, the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to the manufacture and sale of bullets and ammunition by our Sierra segment, and the possession and use of firearms and ammunition by our customers; the Companys exposure to product liability or product warranty claims and other loss contingencies; disruptions and other impacts to the Companys business, as a result of the COVID19 global pandemic and government actions and restrictive measures implemented in response; stability of the Companys manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease epidemics and healthrelated concerns such as the COVID19 global pandemic; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize our net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks; and the Companys ability to declare a dividend. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10K, Quarterly Reports on Form 10Q, and Current Reports on Form 8K. All forwardlooking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forwardlooking statements to reflect events or circumstances after the date of this press release.

Company Contact:

John C. WalbrechtPresidentTel 18019931344john.walbrecht@claruscorp.comorAaron J. KuehneChief Administrative Officer andChief Financial OfficerTel 18019931364aaron.kuehne@claruscorp.com

Investor Relations:

Gateway Investor RelationsCody SlachTel 19495743860CLAR@gatewayir.com