Business
Route1 raises $1.3 million on the exercise of warrants
Route1 raises $1.3 million on the exercise of warrants.
About this update from Route1 Inc.
[{"type":"text","content":"\n\n\n\nNatcan increases investment to hold 12.9 percent\n\n\nTORONTO, Jan. 18 /CNW/ - Route1 Inc.(TM) (TSX-V:ROI), a trusted provider\nof security and identity management network solutions, today announced that it\nhas raised $1,291,677 million from the exercise of 8,333,000 common share\npurchase warrants at a price of $0.155 per share. The warrants, which were\nscheduled to expire in 14 months, were exercised by Natcan Investment\nManagement, a subsidiary of National Bank of Canada. Following the exercise of\nthe warrants, Natcan will hold 32,194,200 common shares in Route1 representing\n12.9 percent of the 250,041,016 common shares issued and outstanding.\n\n\n\"The additional capital raised by the early exercise of these warrants\nwill allow us to accelerate our sales and marketing efforts, specifically in\nthe European sector,\" stated Andrew White, CEO, Route1.\n\n\n\"We decided to take early action on converting these warrants because we\nbelieve the proceeds can be put to immediate use to drive the Company's growth\npotential over the next several quarters,\" stated Robert Beauregard, Senior\nVice President, Small Cap Equities, Natcan.\n\n\nAbout Route1 Inc.\n\n\nRoute1 is a trusted provider of security and identity management network\nsolutions that are redefining today's workplace. At the heart of Route1's\nsolutions is MobiNET, a communications and service delivery platform focused\non identity management and entitlement-based access to resources. Leveraging\nthe power of MobiNET is the award-winning MobiKEY, an ultra-portable computing\ndevice that connects users to their desktop data, applications and network\nresources from any Internet-enabled Windows-based PC. Route1's patent-pending\nsolutions meet the stringent security needs and high standards mandated by all\nlevels of government, and have been FIPS 140-2 validated, certified by the CSE\nand evaluated by ICSA Labs. As a Company with high regard for intellectual\nproperty, Route1 continues to encourage and nurture innovation across its\ntalented team. Headquartered in Toronto, Route1 is listed on the TSX Venture\nExchange (symbol: ROI) and has offices and agents in New York, California,\nFlorida, the UK, Germany, and Latin America. For more information, visit\nwww.route1.com.\n\n\nThis news release does not constitute an offer to sell or a solicitation\nof an...