TORONTO, ON / ACCESSWIRE / June 8, 2022 / Route1 Inc. (TSXV:ROI) (the "Company" or "Route1"), an advanced North American provider of data-centric business empowerment solutions, provides an update on its market making agreement.
On February 1, 2020, Route1 entered into a market making services agreement with Independent Trading group, Inc. ("ITG") located in Toronto, Ontario. The term of the agreement was initially a minimum of three months and has since been renewed on a monthly basis according to the terms of the agreement. The agreement may be terminated on 30 days' written notice prior to the end of the month. The agreement has not been previously filed with the TSX Venture Exchange and remains subject to Exchange acceptance.
The purpose of the agreement is to make a two-sided market in the Company's listed common shares (the "Shares") and provide liquidity to the market. ITG's objectives include: (i) limiting the difference between the bid price and the offer price for the Shares; (ii) assisting in maintaining a fair and orderly market for the shares; (iii) enhancing market depth and increasing liquidity; and (iv) acting as a liaison between the Company and the market by providing information regarding the trading pattern of the Shares. The fee for these services is $5,000 per month, payable at the beginning of the month from the Company's resources.
None of ITG or its affiliates or associates has any interest directly or indirectly in the Company or its securities, or any right or intent to acquire such an interest. ITG and the Company are unrelated and unaffiliated entities and, at the time of the agreement, neither ITG nor its principals had an interest, directly or indirectly, in the securities of the Company. ITG will not receive shares or other securities as compensation. The capital used for market making will be provided by ITG.
Route1 Inc. is an advanced North American technology company that empowers their clients with data-centric solutions necessary to drive greater profitability, improve operational efficiency and gain sustainable competitive advantages, while always emphasizing a strong cybersecurity and information assurance posture. Route1 delivers exceptional client outcomes through real-time secure delivery of actionable intelligence to decision makers, whether it be in a manufacturing plant, in-theater or in a university parking lot. 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 Busseri
President and Chief Executive Officer
+1 480 500-7030
[email protected]
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.
© 2022 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.
This news release may contain statements that are not current or historical factual statements that may constitute forward-looking statements or future oriented financial information. These statements are based on certain factors and assumptions, including, expectations regarding the success of the private placement and the terms on which the Company will raise funds, price and liquidity of the common shares, expected financial performance, expected subscribers and subscription-based revenue, business prospects, technological developments, 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 and other risks and should not be relied upon as a prediction of future events. The Company undertakes no obligation to update any forward-looking statement or future oriented financial information 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. Past or forecasted performance is not a guarantee of future performance and readers should not rely on historical results or forward-looking statements or future oriented financial information as an assurance of future results.
SOURCE: Route1 Inc.