TORONTO, July 5 /CNW/ - Route1 Inc. (TSX-V:ROI), an innovator in wireless
remote computing, today announced it has received regulatory approval from TSX
Venture Exchange for its previously announced $4.0 million financing with
private investors, employees, and institutions by way of a private placement
of units consisting of one Common Share and one half of one Common Share
purchase warrant. The Company issued 13,333,335 units at $0.30 each.
Private Placement Details
Each whole Warrant entitles the holder to acquire one Common Share at an
exercise price of $0.40 per share until the date which is 18 months from
June 21, 2005. The Warrants may be repurchased by the Company at $1.00 less
the exercise price of the Warrant subject to 10 day notice to holders. The
Common Shares, the Warrants and the Common Shares issuable upon the exercise
of Warrants are subject to a hold period of not more than four months and one
day from June 21, 2005.
About Route1
Route1 was founded with the vision of mobilizing the desktop PC. Drawing
on years of experience in secure wireless applications, Route1 is bridging the
gap between business needs and technology's limitations to deliver its Mobi
Solution. The Company is listed on the TSX Venture Exchange and is
headquartered in Toronto, Ontario with offices in New York, NY. For more
information, visit route1.com.
(C) 2005 Route1 Inc. All rights reserved. All other trademarks used are
owned by their respective owners.
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