By Laura Lutz
Des Moines, Oct. 29 - Route1 Inc. priced its previously announced C$10 million private placement of units.
The company plans to sell up to 83,333,333 units of one share and one half-share warrant at C$0.12 per unit. Each whole warrant will be exercisable at C$0.155 for two years.
Raymond James Ltd. will lead a syndicate of agents that also includes GMP Securities LP and Laurentian Bank Securities Inc.
Settlement is expected on Nov. 6.
Toronto-based Route1 develops identity-management systems for remote computing.
| Issuer: | Route1 Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 83,333,333
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.155
|
| Agents: | Raymond James Ltd. (lead), GMP Securities LP, Laurentian Bank Securities Inc.
|
| Announcement date: | Oct. 15
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 6
|
| Stock symbol: | TSX Venture: ROI
|
| Stock price: | C$0.125 at close Oct. 29
|
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