Route1 Official Statement Regarding Removal of Former President and
CEO>
Route1 Official Statement Regarding Removal of Former President and CEO
(Thomson Reuters ONE) - TORONTO, ONTARIO--(Marketwire - July 22, 2009) - Route1 Inc.("Route1") (TSX VENTURE: ROI) has issued the following officialstatement regarding the removal of Mr. Andrew White as President andCEO.Mr. White chose to inappropriately issue a press release on behalf ofRoute1, and misrepresented himself as President and CEO following hisdismissal on Monday, July 20, 2009 at 12 Noon Eastern Time. Thatrelease does not reflect the position and, or views of Route1 and itsBoard of Directors."It is always a difficult decision when a Board has to step in andreplace the CEO," said Mr. Ian Currie, Chairman of the Board ofDirectors, Route1. "The decision to replace Mr. White came after manymonths of his failure to meet the job requirements of the CEO and theBoard's directions. This impaired the Board's ability to meet itsfiduciary responsibilities to shareholders. Ultimately, the Board wascompelled to act."The Board, recognizing Mr. White's entrepreneurial spirit, offered totransition him to a role as Vice Chairman and Chief Architect, wherehis true strengths could be better utilized. This opportunity wassummarily declined and further met with a demand by Mr. White thatthe Board resign en masse at the upcoming Annual General Meeting infavour of a new slate of directors. Clearly, the Board could notaccept this demand and meet its responsibilities to shareholders. Atthat point, Mr. White was removed."Mr. Dean Peloso has tremendous experience and capability to managethe business effectively as interim President and CEO," added Mr.Currie. "Shareholders should be assured that all measures are beingtaken to ensure there are no disruption to Route1's customers andbusiness operations".ABOUT ROUTE1 INC.Route1 delivers award-winning security and identity managementsolutions to customers world-wide. These solutions provide universal,secure access to all digital resources and sensitive data. At theheart of Route1's solutions is MobiNET, a communications and servicedelivery platform focused on identity management andentitlement-based access to resources. Route1's patent-pendingsolutions are based on FIPS-140-2 cryptographic modules, and simplifythe process of meeting increasingly stringent regulatory requirementsaround privacy and security. Headquartered in Toronto, Route1 islisted on the TSX Venture Exchange (symbol: ROI). For moreinformation, visit www.route1.com.This news release is required by applicable Canadian laws and doesnot constitute an offer to sell or a solicitation of an offer to buyany of the securities in the United States. The securities have notbeen and will not be registered under the United States SecuritiesAct of 1933, as amended (the "U.S. Securities Act") or any statesecurities laws and may not be offered or sold within the UnitedStates or to U.S. Persons unless registered under the U.S. SecuritiesAct and applicable state securities laws or an exemption from suchregistration 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 similarlanguage and are considered forward-looking statements or informationunder applicable securities legislation. These statements are basedon Route1's current expectations, estimates, forecasts andprojections about the operating environment, legal environment,economies and markets in which Route1 operates. These statements aresubject to important assumptions, risks and uncertainties, which aredifficult to predict and the actual outcome may be materiallydifferent from those contemplated in forward-looking statements.Unless otherwise required by applicable securities laws, Route1disclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise.©2009 All rights reserved. Route1, the Route1 Logo, Mobi, Route1MobiKEY, Route1 TruOFFICE, Route1 PurLINK, Route1 EnterpriseLIVE, andRoute1 MobiNET are either registered Trademarks or Trademarks ofRoute1 Inc. in the United States and or Canada. All other trademarksand trade names are the property of their respective owners.The TSX Venture Exchange has not reviewed or approved the contents ofthis press release and does not accept responsibility for itsadequacy or accuracy.Contacts:Investor Relations:Spinnaker Capital Markets Inc.Ali Mahdavi+1 416-962-3300am(at)spinnakercmi.comRoute1 Inc.Anthony RzepkaExecutive Vice President and CFO+1 416-848-8391ir(at)route1.comMedia Contact:Route1 Inc.Tanieu Tan, Director, Marketing and Communications+1 416-814-2615tanieu.tan(at)route1.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Bereitgestellt von Benutzer: hugin
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" alt="Net Asset Value(s)>">Datum: 22.07.2009 - 16:44 Uhr
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