Business
US Route1 Applies for Extension of Price Protection for Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES TORONTO, ON / ACCESS N...
About this update from Route1 Inc.
[{"type":"text","content":"US Route1 Applies for Extension of Price Protection for Non-Brokered Private PlacementNOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES TORONTO, ON / ACCESS Newswire / November 27, 2025 / Route1 Inc. (TSXV:ROI) (\"Route1\" or the \"Company\"), a leading engineering and professional services firm specializing in the deployment and integration of ALPR and other advanced data capture-based technologies to city, state, and federal first responder departments, public safety, colleges and universities, and parking managers, announces that in connection with the non-brokered private placement of units (the \"Offering\") originally announced in the Company's news release of November 4, 2025, the Company has applied to the TSX Venture Exchange (the \"TSXV\") for an extension of a further 30 days price protection in order to complete further subscriptions for the second and final tranche of the Offering (the \"Final Closing\"). The Company intends the Final Closing to close in the next couple of weeks.The Final Closing is subject to receipt of further subscriptions and all necessary corporate and regulatory approvals, including the approval of TSXV. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance. Certain insiders of the Company may participate in the Final Closing.The Company intends to use the net proceeds of the Offering to fund the development of Route1's Actionable Business Intelligence (\"ABI\") software application.Appointment of Jerry Iwanski as Interim CFOEffective December 1, 2025, the Company is pleased to announce the appointment of Jerry Iwanski as Interim Chief Financial Officer. Mr. Iwanski will replace Tony Busseri as Interim Chief Financial Officer. Mr. Busseri will continue in his role as President and Chief Executive Officer of the Company.Version 4.0 - AI Co-PilotTo be released in early 2026, Route1's co-pilot will be an AI operations co-pilot that acts as a force multiplier - exponentially extending staff capability. It will be purpose-built to optimize parking operations by combining advanced machine learning with a secure, scalable platform that keeps control of sensitive data in-house.The system will run on a dedicated on-premises AI infrastructure including three GPU servers, backed by shared storage, soli...