Business
Route1 Announces Closing of Second and Final Tranche of Non-brokered Private Placement
TORONTO, ONTARIO / ACCESS Newswire / December 15, 2025 / Route1 Inc . ( TSXV:ROI ) ( "Route1"...
About this update from Route1 Inc.
[{"type":"text","content":"Route1 Announces Closing of Second and Final Tranche of Non-brokered Private PlacementTORONTO, ONTARIO / ACCESS Newswire / December 15, 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, announces the completion of the second and final tranche (the \"Final Closing\") of its previously announced non-brokered private placement of units (each, a \"Unit\") at a price of C$0.075 per Unit (the \"Offering\"). The first tranche closed on November 19, 2025 and the Final Closing, completed on December 15, 2025, added 1,253,333 Units for additional gross proceeds of C$94,000. In total, Route1 issued 4,376,665 Units for aggregate gross proceeds of approximately C$328,250 under 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.All securities issued pursuant to the Final Closing are subject to a four-month hold period expiring on April 16, 2026.No finder's fees were paid in connection with the Final Closing.Company management subscribed for Units under the Offering for a total of C$67,999.92, representing approximately 20.72% of the Offering. 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 to use the net proceeds of the Offering to fund the development of Route1's Actionable Business Intelligence (\"ABI\") software application.Version 4.0 - AI Co-PilotTo be released in early 2026, Route1's co-pilot will be an AI operations co-pilot that acts as a force multiplier - exponentially extending staff capability. It will be purpose-bui...