Route1 Announces Normal Course Issuer Bid
TORONTO, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Route1 Inc. (OTCQB: ROIUF and TSXV: ROI) (the “Company” or “Route1”), North America’s most advanced provider of industrial-grade data intelligence, user authentication and ultra-secure mobile workforce solutions, today announced that it has provided the TSX Venture Exchange (the “Exchange”) its Notice of Intention to move forward with a further normal course issuer bid (“NCIB”), subject to approval by the Exchange.
The notice provides that Route1 may, during the 12-month period commencing September 27, 2018 and ending September 26, 2019, purchase on the Exchange up to 18,405,350 common shares in total, being approximately 5% of the outstanding common shares. The price that Route1 will pay for any such shares will be the market price at the time of purchase, provided, however, that Route1 will not pay more than $0.06 per common share. The actual number of common shares that may be purchased pursuant to the NCIB 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.
From September 27, 2017 to September 13, 2018, the Company had purchased 4,086,414 common shares under the current normal course issuer bid at an average price of $0.039 per share.
About Route1 Inc. Route1, operating under the tradename GroupMobile, is North America’s most advanced provider of industrial-grade data intelligence, user authentication, and ultra-secure mobile workforce solutions. The Company helps all manner of organizations, from government and military to private sector, to make intelligent use of devices and data for immediate process improvements while maintaining the highest level of cyber security. Route1 is listed on the OTCQB in the United States under the symbol ROIUF and in Canada on the TSX Venture Exchange under the symbol ROI. For more information, visit: www.route1.com.
For More Information, Contact: Tony BusseriCEO, Route1 Inc.+1 416 814-2635 email@example.com
This news release, required by applicable Canadian laws, 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
© 2018 Route1 Inc. All rights reserved. No part of this document may be reproduced, transmitted or otherwise used in whole or in part or by any means without prior written consent of Route1 Inc. See https://www.route1.com/terms-of-use/ for notice of Route1’s intellectual property.