Business
Route1 Inc. Announces Terms of Previously Announced Private Placement
Route1 Inc. Announces Terms of Previously Announced Private Placement.
About this update from Route1 Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Feb. 27 /CNW/ - Route1 Inc. (TSX-V: ROI) announced today that it\nhas priced the previously announced private placement of units (the \"Units\")\nfor total gross proceeds of approximately $5,000,000. The Units have been\npriced at $0.12 per Unit.\nEach Unit is comprised of one common share and one common share purchase\nwarrant (a \"Warrant\"). Each whole Warrant is exercisable into one common share\nat a price of $0.155 per share for a period of 2 years from the date of the\nclosing of the private placement.\nThe Units to be sold pursuant to the private placement will be subject to\nresale restrictions pursuant to applicable securities law and stock exchange\nrequirements. The private placement financing is scheduled to close on or\nabout March 9, 2006 and is subject to the completion of a definitive agency\nagreement with Westwind Partners Inc. and the receipt of all required\nregulatory and other necessary approvals.\n\"We are extremely pleased with the level of interest we have received\nfrom institutional investors, both from those who participated in this round\nas well as those who are now following our company's progress,\" said K. Andrew\nWhite, CEO, Route1 Inc.\n\nAbout Route1 Inc.\n\nRoute1 is an innovator in secure, mobile-thin clients. The Company's Mobi\nSolution bridges the gap between business agility and data security allowing\nindividuals and organizations to assuredly support their mobile office,\nregulatory compliance, business growth and business continuity needs. Route1's\nsolution consists of unique mobile devices and software integrated with a\nmanaged secure connectivity service. The Company is listed on the TSX Venture\nExchange (symbol: ROI) with offices in Toronto and New York.\n\nThis news release does not constitute an offer to sell or a solicitation\nof an offer to buy any of the securities in the United States. The securities\nhave not been and will not be registered under the United States Securities\nAct of 1933, as amended (the \"U.S. Securities Act\") or any state securities\nlaws and may not be offered or sold within the United States or to U.S.\nPersons unless registered under the U.S. Securities Act and applicable state\nsecurities laws or an exemption from such registration is available.\n\nThe TSX Venture Exchange has not reviewed or approved the contents of\nthis press...