Route1 Announces the Appointment of Louis De Jong as Board Director
Promotes Tom Lieu to CFO
Toronto, Canada (November 27, 2012) – Route1 Inc. (TSXV: ROI) ("Route1" or the "Company"), a security and identity management company, and its board of directors, are pleased to announce the appointment of Louis De Jong to its board of directors.
Mr. De Jong recently founded and is the Managing Partner of De Jong & Co., a boutique merchant bank engaged in principal investment and financial advisory services. Prior to that, in 2004 he had co-founded and was Managing Director of Jemekk Capital Management Inc., a hedge fund manager on behalf of high net worth and institutional clients focused on small and medium capitalized Canadian companies. From 1998 to 2004 Mr. De Jong was employed by Credit Suisse First Boston where he most recently served as Director and Head of Canadian Equities. Mr. De Jong began his career in the investment business at Sprott Securities Inc. in institutional equity sales.
Mr. De Jong is a graduate of the University of Western Ontario (Economics) and a member of the Canadian Institute of Chartered Accountants.
"Mr. De Jong with his substantive knowledge of the Canadian small cap technology space is a strong addition to our board of directors and we look forward to his contribution in helping grow Route1", said Michael D. Harris, Chairman of Route1.
Route1 also announced the promotion of Tom Lieu to Chief Financial Officer. Since April 1, 2012, Mr. Lieu has been the Company’s Vice-President of Finance.
Prior to joining Route1, Mr. Lieu was the Controller of engineering.com from 2006 to 2012. He has over 10 years of financial management experience in the technology sector. Mr. Lieu is a graduate of the Honours Bachelor of Business Administration program at Wilfrid Laurier University, a graduate of the Master of Business Administration at St. Mary's University, and holds a Certified Management Accountant designation.
Board Director Stock Option Grant
Lastly, Route1 announced that a total of 1,000,000 stock options at an exercise price of $0.13 per share were granted to recently appointed board director Major-General (Retired) David Fraser. Under the Company’s stock option plan, 10% of the issued capital is reserved for issuance. As of today’s date, including the above grant, a total of 36,110,000 options are currently outstanding under the stock option plan.
ABOUT ROUTE1, INC.
Route1 delivers industry-leading security and identity management solutions to enterprises worldwide, such as businesses, government and military, which need universal, secure access to all digital resources and sensitive data. These customers depend on The Power of MobiNET - Route1’s communications and service delivery platform. MobiNET provides identity assurance and individualized access to networks and data. Route1’s patented solutions are based on FIPS 140-2 cryptographic modules, and simplify the process of meeting increasingly stringent regulatory requirements for privacy and security. Headquartered in Toronto, Canada, Route1 is listed on the TSX Venture Exchange.
For more information, visit our website at: www.route1.com.
For More Information Contact:
Ali Mahdavi, Capital Markets Advisor
This news release contains statements that are not current or historical factual statements that may constitute forward-looking statements. These statements are based on certain factors and assumptions, including, expected financial performance, business prospects, technological developments, and development activities and like matters. While Route1 considers these factors and assumptions to be reasonable, based on information currently available, they may prove to be incorrect. These statements involve risks and uncertainties, including but not limited to the risk factors described in reporting documents filed by the Company. Actual results could differ materially from those projected as a result of these risks and should not be relied upon as a prediction of future events. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by law. Estimates used in this presentation are from Company sources.
This news release, required by applicable Canadian laws, and 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.
© Route1 Inc., 2012. All rights reserved. Route1, the Route1 and shield design Logo, SECURING THE DIGITAL WORLD, Mobi, MobiSecure, Route1 MobiKEY, Route1 MobiVDI, MobiKEY, MC2, PurLINK, MobiLINK, MobiKEY IBAD, DEFIMNET, MobiNET, Route1 MobiNET, TruOFFICE, TruFLASH, TruOFFICE VDI, MobiKEY Fusion, EnterpriseLIVE, EnterpriseLIVE VO, MobiNET Agent and MobiKEY Classic, are either registered trademarks or trademarks of Route1 Inc. in the United States and or Canada. All other trademarks and trade names are the property of their respective owners. The DEFIMNET and MobiNET platforms and the MobiKEY, MobiKEY Classic and MobiKEY Fusion devices are protected by U.S. Patents 7,814,216 and 7,739,726, and other patents pending.