Business
Route1 Receives Insurance Settlement Payment
TORONTO, ON / ACCESSWIRE / June 1, 2021 / Route1 Inc . (OTCQB:ROIUF)(TSXV:ROI) (the "Comp...
About this update from Route1 Inc.
[{"type":"text","content":"Route1 Receives Insurance Settlement PaymentTORONTO, ON / ACCESSWIRE / June 1, 2021 / Route1 Inc. (OTCQB:ROIUF)(TSXV:ROI) (the \"Company\" or \"Route1\"), an advanced North American provider of data-centric business empowerment solutions, today announced that Company today is in receipt of a payment for US $438,642 from its insurers, in full settlement for the cost of goods fraudulently taken from Route1 in the third quarter of 2020 and disclosed in a news release Route1 issued on November 25, 2020.The Company was the victim of a fraud in the United States perpetrated by a group posing as legitimate customers with the goal of purchasing rugged devices. The Company fully paid its vendor of record in 2020 for the unrecovered goods. The amount paid to Route1 is the full amount of the Company's claim less the insurance policy deductibles of US $30,000.About Route1 Inc.Route1 Inc. is an advanced North American technology company that empowers their clients with data-centric solutions necessary to drive greater profitability, improve operational efficiency and gain sustainable competitive advantages, while always emphasizing a strong cybersecurity and information assurance posture. Route1 delivers exceptional client outcomes through real-time secure delivery of actionable intelligence to decision makers, whether it be in a manufacturing plant, in-theater or in a university parking lot. Route1 is listed on the OTCQB in the United States under the symbol ROIUF and in Canada on the TSX Venture Exchange under the symbol ROI. For more information visit: www.route1.com.For More Information, Contact:Tony BusseriPresident and Chief Executive Officer+1 480 [email protected] news release, required by applicable Canadian laws, does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the polici...