Business
Route1 Senior Management Team Foregoes Issuance of Options
Route1 Senior Management Team Foregoes Issuance of Options.
About this update from Route1 Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, April 27 /CNW/ - Route1 Inc. (TSX-V:ROI), an innovator in\nsecure, remote access, identity management services today announced that its\nsenior management team has chosen to forego the issuance of options previously\nannounced.\nAndrew White, CEO; Tim Hyland, President and COO; and John Denham, CFO\nhave agreed that, until the company has reached the recurring revenue level\nrealized from a subscriber base of 20,000, it will not entertain the issuance\nof options.\n\"We listen to our shareholders\", said Andrew White, CEO, Route1. \"We have\ncome to this decision out of respect for some concern expressed to us. We are\nconfident that all of our shareholders will benefit from the financial\nperformance we are anticipating this year.\"\nThe resulting options issuance will be 1,801,500 options with an exercise\nprice of $0.30. The options will have a five year time period and vest over a\nthree year period.\n\nAbout Route1, Inc.\nRoute1's innovative remote access solution transforms the way people\nwork. Route1 offers simple and trusted remote access, enabling companies to\nsecurely expand the remote computing capability of all their employees.\nFurthermore, since no applications or data reside on the remote devices,\norganizations can assure compliance with privacy, security and governance\nregulations. The Mobi Solution's secure design also supports regulatory and\nbusiness continuity needs.\nRoute1's Mobi Solution currently consists of the Route1 MobiKEY(TM) - a\nunique remote access software solution embedded on a cryptographic USB device -\nintegrated with a managed secure connectivity service called Route1\nMobiNET(TM).\nThe Company is listed on the TSX Venture Exchange (symbol: ROI) with\noffices in Toronto and New York. For more information, visit www.route1.com.\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 E...