Business
Route1 Receives Regulatory Approval for Private Placement Financing
Route1 Receives Regulatory Approval for Private Placement Financing.
About this update from Route1 Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, July 5 /CNW/ - Route1 Inc. (TSX-V:ROI), an innovator in wireless\nremote computing, today announced it has received regulatory approval from TSX\nVenture Exchange for its previously announced $4.0 million financing with\nprivate investors, employees, and institutions by way of a private placement\nof units consisting of one Common Share and one half of one Common Share\npurchase warrant. The Company issued 13,333,335 units at $0.30 each.\n\nPrivate Placement Details\nEach whole Warrant entitles the holder to acquire one Common Share at an\nexercise price of $0.40 per share until the date which is 18 months from\nJune 21, 2005. The Warrants may be repurchased by the Company at $1.00 less\nthe exercise price of the Warrant subject to 10 day notice to holders. The\nCommon Shares, the Warrants and the Common Shares issuable upon the exercise\nof Warrants are subject to a hold period of not more than four months and one\nday from June 21, 2005.\n\nAbout Route1\nRoute1 was founded with the vision of mobilizing the desktop PC. Drawing\non years of experience in secure wireless applications, Route1 is bridging the\ngap between business needs and technology's limitations to deliver its Mobi\nSolution. The Company is listed on the TSX Venture Exchange and is\nheadquartered in Toronto, Ontario with offices in New York, NY. For more\ninformation, visit route1.com.\n\n(C) 2005 Route1 Inc. All rights reserved. All other trademarks used are\n owned by their respective owners.\n\n%SEDAR: 00008444E\n\n\n","length":1575,"tagName":"div"}]