Route1 Inc.
TSX VENTURE : ROI

Route1 Inc.

July 20, 2009 16:15 ET

Route1 Appoints Interim President and CEO

TORONTO, ONTARIO--(Marketwire - July 20, 2009) - Route1 Inc. ("Route1") (TSX VENTURE:ROI) chairman Ian Currie today announced that Mr. Dean Peloso, a member of Route1's Board of Directors, will step in immediately on an interim basis to serve as President and Chief Executive Officer. The move follows the removal of Mr. K. Andrew White who previously served in this role.

Commenting on this role, Mr. Peloso stated "Route1 was founded on technological innovation and the provision of enhanced security and identity-based services to our customers. I'm pleased to take on this interim role and to continue building on the recent successes we have experienced in the market."

Mr. Currie said, "As a Board, we wanted an interim President and CEO who was knowledgeable about the Company, who had the background, and ability to lead us through this transition. We're confident in Dean's ability to do just that."

Route1 is also aware of a press release issued earlier today by Mr. White, which does not reflect the position and/or views of the Board. We will provide further updates as events occur in connection with this matter.

ABOUT ROUTE1 INC.

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, 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, Route1 TruOFFICE, Route1 PurLINK, Route1 EnterpriseLIVE, 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.

The TSX Venture Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for its adequacy or accuracy.

Contact Information

  • Investor Relations:
    Spinnaker Capital Markets Inc.
    Ali Mahdavi
    416-962-3300
    am@spinnakercmi.com
    or
    Route1 Inc.
    Anthony Rzepka
    Executive Vice President and CFO
    416-848-8391
    ir@route1.com
    or
    Media Contact:
    Route1 Inc.
    Tanieu Tan
    Director, Marketing and Communications
    416-814-2615
    tanieu.tan@route1.com