Route1 Inc.
TSX VENTURE : ROI

Route1 Inc.

September 15, 2010 13:06 ET

Route1 Results for its 2010 Annual and Special Meeting

Shareholders Approve all Matters to be Voted On

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2010) - Route1 Inc. (TSX VENTURE:ROI) ("Route1" or the "Company"), a security and identity management company, today announced that the following matters were voted on and approved today at the Company's annual and special meeting of shareholders:

  • Tony P. Busseri, Peter F. Chodos, Amar S. Doman, Michael F. Doolan and Michael D. Harris were elected as the Company's directors. Mr. Harris will continue as Chairman of the Board.
  • Deloitte & Touche LLP Chartered Accountants was reappointed as the Company's auditors in respect of the year ending December 31, 2010.
  • The Company's stock option plan was reapproved.

Each of the three matters that were voted on received greater than 97.4% approval. A total of 193.5 million shares were voted at the meeting. 

Stock Option Grant

A total of 1,500,000 stock options were granted to Amar S. Doman, a director of Route1, today exercisable at the greater of today's Route1 closing stock price or $0.20 per share.

Under Route1's stock option plan, 10% of the issued capital or 38,838,811 common shares are reserved for issuance. Including the above grant, a total of 34,650,000 options are currently outstanding under the stock option plan.

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 patented solution is based on FIPS-140-2 cryptographic modules, and simplifies the process of meeting increasingly stringent regulatory requirements around privacy and security. Headquartered in Toronto, Route1 is listed on the TSX Venture Exchange. 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.

©2010 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.

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.

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