TORONTO, ONTARIO -- (MARKET WIRE) -- 07/20/09 -- Route1 Inc.
("Route1") (TSX VENTURE: ROI) chairman Ian Currie today announced
that Mr. Dean Peloso, a member of Route1's Board of Directors, will
step in immediately on an interim basis to serve as President and
Chief Executive Officer. The move follows the removal of Mr. K.
Andrew White who previously served in this role.
Commenting on this role, Mr. Peloso stated "Route1 was founded on
technological innovation and the provision of enhanced security and
identity-based services to our customers. I'm pleased to take on this
interim role and to continue building on the recent successes we have
experienced in the market."
Mr. Currie said, "As a Board, we wanted an interim President and CEO
who was knowledgeable about the Company, who had the background, and
ability to lead us through this transition. We're confident in Dean's
ability to do just that."
Route1 is also aware of a press release issued earlier today by Mr.
White, which does not reflect the position and/or views of the Board.
We will provide further updates as events occur in connection with
this matter.
ABOUT ROUTE1 INC.
Route1 delivers award-winning security and identity management
solutions to customers world-wide. These solutions provide universal,
secure access to all digital resources and sensitive data. At the
heart of Route1's solutions is MobiNET, a communications and service
delivery platform focused on identity management and
entitlement-based access to resources. Route1's patent-pending
solutions are based on FIPS-140-2 cryptographic modules, and simplify
the process of meeting increasingly stringent regulatory requirements
around privacy and security. Headquartered in Toronto, Route1 is
listed on the TSX Venture Exchange (symbol: ROI). For more
information, visit www.route1.com.
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.
Certain statements in this press release may contain words such as
"could", "expects", "may", "anticipates", "believes", "intends",
"estimates", "targets", "envisions", "seeks" and other similar
language and are considered forward-looking statements or information
under applicable securities legislation. These statements are based
on Route1's current expectations, estimates, forecasts and
projections about the operating environment, legal environment,
economies and markets in which Route1 operates. These statements are
subject to important assumptions, risks and uncertainties, which are
difficult to predict and the actual outcome may be materially
different from those contemplated in forward-looking statements.
Unless otherwise required by applicable securities laws, Route1
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
(c)2009 All rights reserved. Route1, the Route1 Logo, Mobi, Route1
MobiKEY, Route1 TruOFFICE, Route1 PurLINK, Route1 EnterpriseLIVE, and
Route1 MobiNET 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 TSX Venture Exchange has not reviewed or approved the contents
of this press release and does not accept responsibility for its
adequacy or accuracy.
Contacts:
Investor Relations:
Spinnaker Capital Markets Inc.
Ali Mahdavi
416-962-3300
am@spinnakercmi.com
Route1 Inc.
Anthony Rzepka
Executive Vice President and CFO
416-848-8391
ir@route1.com
Media Contact:
Route1 Inc.
Tanieu Tan
Director, Marketing and Communications
416-814-2615
tanieu.tan@route1.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
