TORONTO, ONTARIO--(Marketwired - Sep 24, 2014) - Route1 Inc. (TSX VENTURE:ROI), 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 Energy and the Government of Canada, today announced that a total of 451,700 stock options at an exercise price of $0.05 per share were granted to certain of the Company's executive team. The stock options will expire on September 24, 2019 and will vest thirty percent on the first anniversary, thirty percent on the second anniversary and the remainder on the third anniversary.
Under the Company's stock option plan, 10% of the issued capital is reserved for issuance or a total of 38,044,541 options. As of today's date, including the above grant, a total of 29,124,000 options are currently outstanding under the stock option plan.
NCIB Update
Route1 gave notice on September 5, 2014 of its intention to make a Normal Course Issuer Bid (the Bid). The notice provided that Route1 may, during the 12 month period commencing September 11, 2014 and ending September 10, 2015, purchase on the Exchange up to 38,200,991 common shares in total, being approximately 10% of the public float. Pursuant to the Bid, Route1 has purchased 1,032,000 common shares for cancellation, and all such purchases have been made on the open market through the facilities of the Exchange.