Business
Route1 announces brokered private placement of up to $10 million
Route1 announces brokered private placement of up to $10 million.
About this update from Route1 Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE\n\n\nUNITED STATES/\n\n\nTORONTO, Oct. 15 /CNW/ - Route1 Inc.(TM) (TSX-V:ROI), the trusted\nprovider of security and identity management network solutions, announced\ntoday that the Company intends to raise up to $10 million in a brokered\nprivate placement of common shares. The offering will be conducted through a\nsyndicate of agents led by Raymond James Ltd. and including GMP Securities\nL.P. and Laurentian Bank Securities Inc. The closing of the offering is\nexpected to occur on or about October 30, 2007.\n\n\nThe offering is subject to regulatory approvals including the approval of\nthe TSX Venture Exchange. All securities issued pursuant to the offering will\nbe subject to applicable statutory, exchange and regulatory hold periods.\n\n\nIt is anticipated that the proceeds from this private placement will be\nused to finance future growth and for general working capital purposes.\n\n\nABOUT ROUTE1 INC.\n\n\nRoute1 is the trusted provider of security and identity management\nnetwork solutions that are redefining today's workplace. At the heart of\nRoute1's solutions is MobiNET, a communications and service delivery platform\nfocused on identity management and entitlement-based access to resources.\nLeveraging the power of MobiNET is the award-winning MobiKEY, an\nultra-portable computing device that securely connects users to the myriad of\nMobiNET services from any Internet-enabled Windows-based PC. This\npatent-pending computing solution is embedded on a smart-card enabled,\ncryptographic USB device, making it one of the most powerful and easy-to-use\nsecure computing solutions available today. Combined with TruOFFICE, Route1's\nsecure, remote access service, MobiKEY enables users to connect to their\ndesktop data, applications and network resources. Route1's patent-pending\nsolutions, based on FIPS-140-2 cryptographic modules, meet the stringent\nsecurity needs and high standards mandated by all levels of government. They\nhave been evaluated by ICSA Labs and certified by the CSE. As a Company with\nhigh regard for intellectual property, Route1 continues to encourage and\nnurture innovation across its talented team. Headquartered in Toronto, Route1\nis listed on the TSX Venture Exchange (symbol: ROI) and has offices and agents\nin New York, Fl...