Business
Route1 Announces Closing of First Tranche of Non-Brokered Private Placement for Gross Proceeds of Approximately C$234,000
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES TORONTO, ONTARIO / ACC...
About this update from Route1 Inc.
[{"type":"text","content":"Route1 Announces Closing of First Tranche of Non-Brokered Private Placement for Gross Proceeds of Approximately C$234,000NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES TORONTO, ONTARIO / ACCESS Newswire / November 19, 2025 / Route1 Inc. (TSXV:ROI) (\"Route1\" or the \"Company\"), a leading engineering and professional services firm specializing in the deployment and integration of ALPR and other advanced data capture-based technologies to city, state, and federal first responder departments, public safety, colleges and universities, and parking managers, today announces that it has completed the first tranche (the \"Initial Closing\") of its non-brokered private placement (announced November 4, 2025) of units(each, a \"Unit\") at a price of C$0.075 per Unit for gross proceeds of approximately C$234,250 (the \"Offering\").Each Unit consists of one common share in the capital of the Company (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder to purchase one Common Share at a price of C$0.10 for a period of 18 months from the issue date of the Units.At today's Initial Closing, the Company issued a total of 3,123,332 Common Shares and 3,123,332 Warrants. All securities issued pursuant to the Initial Closing are subject to a four-month hold period, expiring on March 20, 2026.In connection with the Initial Closing, the Company paid Canaccord Genuity Corp. a cash finder's fee of C$8,812.50 and issued 117,500 finder's warrants (the \"Finder's Warrants\"). Each Finder's Warrant entitles the holder to purchase one Common Share at an exercise price of C$0.10 for a period of 18 months from the date of issuance.Company management subscribed for Units totaling C$57,999.92, representing approximately 24.76% of the Initial Closing and 11.60% of the overall offering (which is up to C$500,000 as previously announced on November 4, 2025). The subscriptions by and issuance of Units to Company management constitute a related party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, in respect of such insider participation.The Company intends t...