Route1 Inc. Completes $10 Million Private Placement

November 06, 2007

November 6, 2007 - Route1 Inc. completed a private placement of up to 83,333,333 units at an issue price of $0.12 per unit for aggregate gross proceeds of up to $10,000,000. Each Unit is comprised of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one common share at a price of $0.155 per share for two years. A syndicate of agents led by Raymond James Ltd. and including GMP Securities L.P. and Laurentian Bank Securities Inc. acted in connection with the offering. Wildeboer Dellelce LLP acted for the agents with a team that included Derek Sigel, Lisa Cunningham and Michael Antonik (corporate/securities).