Route1 Inc.
TSX VENTURE : ROI

Route1 Inc.

February 26, 2010 18:30 ET

Route1 Provides Management Update

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2010) - Route1 Inc. ("Route1" or the "Company") (TSX VENTURE:ROI), a security and identity-based services company, today announced the appointment of Tony P. Busseri as president and chief executive officer of Route1 effective immediately.

"I am extremely pleased with Tony's decision to join and lead the management team going forward," noted K. Andrew White, founder and a director of Route1. "We have made significant progress on many fronts in a short period of time under Tony's leadership. His appointment as CEO is a great asset to Route1 and its future."

Mr. White has stepped down as president and CEO of Route1 and will become vice chairman where he will continue to play an active role in business development.

"After having spent the past three months inside Route1, working with our talented team, and key customers to identify and address all issues and opportunities, I am extremely excited with the prospects of Route1's future," noted Mr. Busseri, president and chief executive officer of Route1. "I would like to thank Andrew for his vision to create an exceptional, world-class technology, and for assisting me in the past weeks and months to get a good handle on all aspects of the business."

Mr. Busseri is a principal of Growth Equity Partners ("GEP"), a full service business advisory firm. GEP's focus is to support small to medium sized private and publicly listed companies execute transformational business initiatives. These services include: operational improvement and restructuring, corporate finance, transaction advisory, capital markets advisory, professional directorship and governance, and proxy contest/corporate dispute resolution. Previously, Mr. Busseri served as a member of the board of directors, president and chief executive officer of EnGlobe Corp. from 2004 to 2008, and chairman of the board of directors, president and chief executive officer of Waste Services Inc. from 1997 to 2000. Mr. Busseri currently serves on the board of directors of Augen Capital Corp. (chairman of the audit committee) and Route1. Mr. Busseri is a graduate of the honours business administration program at the Richard Ivey School of Business at the University of Western Ontario and holds a certified management accountant designation.

As a result of this appointment, Mr. Busseri will no longer chair the compensation committee; however he will continue his role as a director.

About Route1

Route1 delivers award-winning security and identity management solutions to customers worldwide. 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.

©2010 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
    Capital Markets Advisor
    +1 416-962-3300 ext. 225
    am@spinnakercmi.com