TORONTO, ONTARIO--(Marketwired - Feb 6, 2015) - Danier Leather Inc. (TSX:DL) ("Danier" or the "Corporation") announced today that it will explore strategic alternatives available to the Corporation including, without limitation, a private placement or other offering of equity or debt, the sale, lease or financing of certain assets of the Corporation, or a sale of, merger or other business combination, joint ventures or strategic alliances with the Corporation.

The Corporation has formed a special committee comprised of independent members of the Danier Board of Directors to oversee this initiative, and has engaged Consensus Advisory Services LLC as financial advisor. The Special Committee and Consensus will evaluate proposals and other available alternatives and provide advice and make recommendations to the Corporation's Board of Directors regarding any such potential transaction.

The Corporation has not established a definitive timeline to complete its review and no decision on any particular alternative has been reached at this time. There can be no assurance that this process will result in any transaction. The Corporation does not currently intend to disclose further developments with respect to this process, unless and until its Board of Directors approves a specific transaction or otherwise concludes the review of strategic alternatives.

About Danier

Danier Leather Inc. is a leading integrated designer, manufacturer, and retailer of high-quality fashion-oriented leather apparel and accessories. The Corporation's merchandise is marketed exclusively under the well-known Danier brand name and is available at its 90 shopping mall, street-front and outlet stores as well as the online store at danier.com. For more information about the Corporation and our products, visit www.danier.com.

Forward-Looking Information

This press release contains forward-looking information and forward-looking statements which reflect the current view of Danier with respect to the Corporation's objectives, plans, goals, strategies, future growth, results of operations, financial and operating performance and business prospects and opportunities. Wherever used, the words "may", "will", "anticipate", "intend", "expect", "estimate", "plan", "believe" and similar expressions identify forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved. All of the statements in this press release containing forward-looking statements or forward-looking information are qualified by these cautionary statements.

Forward-looking statements and forward-looking information are based on information available at the time they are made, underlying estimates, opinions and assumptions made by management and management's good faith belief with respect to future events, performance and results and are subject to inherent risks and uncertainties surrounding future expectations generally. As noted, there can be no assurance that the strategic review process that is the subject of this release will result in any transaction. Except as required by applicable securities law, the Corporation does not currently intend to disclose further developments with respect to this process, unless and until its Board of Directors approves a specific transaction or otherwise concludes the review of strategic alternatives. For additional information with respect to Danier's inherent risks and uncertainties, reference should be made to Danier's continuous disclosure materials filed from time to time with the Canadian Securities Regulatory Authorities, including the Corporation's most recent annual information form, quarterly and annual reports and financial statements and notes thereto, and supplementary information, which are available on SEDAR at www.sedar.com and in the Investor Relations section of the Corporation's website at www.danier.com. Additional risks and uncertainties not presently known to the Corporation or that Danier currently believes to be less significant may also adversely affect the Corporation.

Danier cautions readers that such factors and uncertainties are not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions prove incorrect, actual events, performance and results may vary significantly from those expected. There can be no assurance that the actual results, performance, events or activities anticipated by the Corporation will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Corporation. Potential investors and other readers are urged to consider these factors carefully in evaluating forward- looking information and forward-looking statements and are cautioned not to place undue reliance on any forward-looking information or forward-looking statements. Danier disclaims any intention or obligation to update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.