Route1 Inc V.ROI

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[guido1077]

Route1 Inc. Announces Terms of Previously Announced Private Placement Monday, February 27, 2006 4:52:51 PM (GMT-05:00) Provided by: Canada News Wire TORONTO, Feb. 27 /CNW/ - Route1 Inc. (TSX-V: ROI) announced today that it has priced the previously announced private placement of units (the "Units") for total gross proceeds of approximately $5,000,000. The Units have been priced at $0.12 per Unit. Each Unit is comprised of one common share and one common share purchase warrant (a "Warrant"). Each whole Warrant is exercisable into one common share at a price of $0.155 per share for a period of 2 years from the date of the closing of the private placement. The Units to be sold pursuant to the private placement will be subject to resale restrictions pursuant to applicable securities law and stock exchange requirements. The private placement financing is scheduled to close on or about March 9, 2006 and is subject to the completion of a definitive agency agreement with Westwind Partners Inc. and the receipt of all required regulatory and other necessary approvals. "We are extremely pleased with the level of interest we have received from institutional investors, both from those who participated in this round as well as those who are now following our company's progress," said K. Andrew White, CEO, Route1 Inc. About Route1 Inc. Route1 is an innovator in secure, mobile-thin clients. The Company's Mobi Solution bridges the gap between business agility and data security allowing individuals and organizations to assuredly support their mobile office, regulatory compliance, business growth and business continuity needs. Route1's solution consists of unique mobile devices and software integrated with a managed secure connectivity service. The Company is listed on the TSX Venture Exchange (symbol: ROI) with offices in Toronto and New York. This news release 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. The TSX Venture Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release. For further information: John Denham, Chief Financial Officer, Tel: [phone], Fax: [phone], Email: [e-mail] Copyright © 2006 Canada News Wire Print StoryEmail Story Related Reports Front Page Company News US;RVRY CA;ROI Get the latest prices Additional News Americas G7 Countries NATO Countries North America Canada OECD Countries Business Sectors Information Technology / Telecommunications Computing Computer Hardware Computer Software Communications Technology Networks English G8 Countries APEC Countries More News from this Source MST/I MST/I/CMT MST/I/CPM MST/I/SOF MST/I/TEL MST/I/TLQ MST/L/EN MST/R/CA MST/R/G7 MST/R/NME REV5 TGT/CAN L/EN NWI/HRD NWI/NET NWI/STW NWR/ON NWS/PVT