Route1 Inc.
TSX VENTURE : ROI

Route1 Inc.

October 08, 2009 09:47 ET

Route1 Announces Extension of Expiry Date of Warrants

TORONTO, ONTARIO--(Marketwire - Oct. 8, 2009) - Route1 Inc. ("Route1" or the "Company") (TSX VENTURE:ROI), a security and identity-based services company, today announces that, subject to the approval of the TSX Venture Exchange (the "Exchange"), it proposes to extend the term of 32,360,333 common share purchase warrants (the "Warrants") that were issued as part of a private placement that was announced on October 15, 2007.

The Warrants had an original term of twenty-four (24) months. Each Warrant entitles its holder to purchase one additional common share of Route1 at an exercise price of $0.155 per share. Subject to the approval of the Exchange, the term of the Warrants will be extended for an additional six (6) months, for a total term of thirty (30) months expiring on May 7, 2010. None of the Warrants have been exercised to date and there will be no change to the exercise price.

ABOUT ROUTE1

Route1 delivers award-winning security and identity management solutions to customers world-wide. These solutions provide universal, secure access to all digital resources and sensitive data. At the heart of Route1's solutions is MobiNET, a communications and service delivery platform focused on identity management and entitlement-based access to resources. Route1's patent-pending solutions are based on FIPS-140-2 cryptographic modules, and simplify the process of meeting increasingly stringent regulatory requirements around privacy and security. Headquartered in Toronto, Route1 is listed on the TSX Venture Exchange (symbol: ROI). For more information, visit www.route1.com.

This news release is required by applicable Canadian laws and 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.

Certain statements in this press release may contain words such as "could", "expects", "may", "anticipates", "believes", "intends", "estimates", "targets", "envisions", "seeks" and other similar language and are considered forward-looking statements or information under applicable securities legislation. These statements are based on Route1's current expectations, estimates, forecasts and projections about the operating environment, legal environment, economies and markets in which Route1 operates. These statements are subject to important assumptions, risks and uncertainties, which are difficult to predict and the actual outcome may be materially different from those contemplated in forward-looking statements. Unless otherwise required by applicable securities laws, Route1 disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

(C)2009 All rights reserved. Route1, the Route1 Logo, Mobi, Route1 MobiKEY, TruOFFICE, PurLINK, EnterpriseLIVE, DEFIMNET, IBAD and Route1 MobiNET are either Registered Trademarks or Trademarks of Route1 Inc. in the United States and or Canada. All other trademarks and trade names are the property of their respective owners.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Spinnaker Capital Markets Inc.
    Ali Mahdavi
    Investor Relations
    416-962-3300 ext. 225
    am@spinnakercmi.com