Route1 Completes First Tranche of Private Placement for C$234,000

Route1 Inc., a Toronto-based engineering firm, announced the completion of the first tranche of its non-brokered private placement, securing approximately C$234,250. The company issued 3,123,332 common shares and an equal number of warrants, each warrant allowing the purchase of an additional share at C$0.10 within 18 months. These securities are subject to a four-month hold period, expiring March 2026.

Canaccord Genuity Corp. received a cash finder's fee and warrants for their involvement. Route1's management participated significantly, contributing around 24.76% of this tranche. The proceeds will fund the development of Route1’s ABI software, set to enhance parking operations through advanced machine learning and AI-co-pilot features.