Route1 (ROI-V) Sept 14, '15 a leading provider of secure access technologies for the mobile workspace that protects businesses and government agencies, and whose customers include the U.S. Department of Defense, the Department of Homeland Security, the Department of Commerce and the Government of Canada, today announced that it has provided the TSX Venture Exchange (the "Exchange") its Notice of Intention to move forward with a normal course issuer bid ("NCIB"), subject to approval by the Exchange.
The notice provides that Route1 may, during the 12 month period commencing September 11, 2015 and ending September 10, 2016, purchase on the Exchange up to 18,262,570 common shares in total, being approximately 5% of the outstanding shares. The price which Route1 will pay for any such shares will be the market price at the time of acquisitions, provided, however, that Route1 will not pay more than $0.06 per common share. The actual number of common shares which may be purchased pursuant to the Bid and the timing of any purchases will be determined by management of Route1. All common shares purchased pursuant to the NCIB will be purchased for cancellation, and all such purchases will be made on the open market through the facilities of the Exchange. The NCIB will be conducted through Paradigm Capital Inc., a member of the Exchange.
Route1 believes that its common shares have been trading in a price range which does not adequately reflect the value of such shares in relation to the business of Route1 and its future business prospects. As a result, depending upon future price movements and other factors, Route1 believes that its outstanding common shares may represent an attractive investment to Route1. Furthermore, the purchases are expected to benefit all persons who continue to hold common shares by increasing their equity interest in Route1.
Annual General and Special Meeting
Today the Company announced that it will hold its annual meeting of its shareholders on November 25, 2015. The meeting will be held at 9am eastern at The Omni King Edward Hotel, 37 King Street East, Toronto, Ontario.
ABOUT ROUTE1, INC.
Route1 enables the mobile workspace without compromising on security. Its flagship technology MobiKEY uniquely combines secure mobile access, with high assurance identity validation and plug-and-play usability. Remote and mobile workers are able to securely and cost effectively access their workspace from any device without exposing the organization to the risk of data spillage or malware propagation. MobiKEY customers include Fortune 500 enterprises as well as the U.S. Department of Defense, the Department of Homeland Security, the Department of Energy and the Government of Canada. Headquartered in Toronto, Canada, Route1 is listed on the TSX Venture Exchange.
For more information, visit our website at: www.route1.com.
Route1 Inc.
Tony Busseri
CEO
+1 416 814-2635
tony.busseri@route1.com
www.route1.com |
