New Issue: Route1 closes C$7.77 million private placements of units

By Devika Patel

Knoxville, Tenn., Nov. 7 - Route1 Inc. closed a C$7.77 million private placement of units. The deal priced on Oct. 29 for C$10 million.

The company sold 64,720,666 units, down from its planned sale of 83,333,333 units, at C$0.12 per unit. Each unit consists of one share and one half-share warrant. Each whole warrant will be exercisable at C$0.155 for two years.

The deal was conducted by a syndicate of agents led by Raymond James Ltd. and also included GMP Securities LP and Laurentian Bank Securities Inc.

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$7,766,480
Units:	64,720,666
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. 7
Stock symbol:	TSX Venture: ROI
Stock price:	C$0.125 at close Oct. 29

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