Rocky Mountain Liquor Inc. Announces Normal Course Issuer Bidadmin
Rocky Mountain Liquor Inc. Announces Normal Course Issuer Bid
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Edmonton, Alberta CANADA, February 20, 2014 /FSC/ – Rocky Mountain Liquor Inc. (RUM – TSX Venture), (“Rocky Mountain Liquor” or “RUM” or the “Company) announces today that it has received TSX Venture Exchange (“TSXV”) approval of a Notice of Intention to commence a normal course issuer bid through the facilities of the TSXV, permitting the Company to repurchase, for cancellation, up to 2,889,889 of the 57,797,788 common shares that are currently issued and outstanding (the “common share NCIB”). This represents 5.0% of the issued and outstanding common shares. The common share NCIB will commence on February 24, 2014, and run until the earlier of the date on which purchases under the bid have been completed and February 23, 2015. The Company believes that, depending on the trading price of its common shares and other relevant factors, purchasing its own shares represents an attractive investment opportunity and is in the best interests of RUM and its shareholders
The common share NCIB is to be made through the facilities of the TSXV and other Canadian Market Places, and in accordance with policy statements on normal course issuer bids. The price, which RUM will pay for any common share will be the market price at the time of acquisition plus brokerage fees, if any. Purchases may commence on February 24, 2014, and will terminate no later than February 23, 2015. No purchases have been made by the Company in the past 12 months. A copy of the Form 5G – Notice of Intention to make a Normal Course Issuer Bid filed by the Company with the TSXV can be obtained from the Company upon request without charge.
To the knowledge of the directors and officers of RUM, no director or officer, associate of a director or officer of the Company, no person acting jointly or in concert with the Company nor any person holding 10 percent or more of the common shares has any present intention to sell common shares during the period of the normal course issuer bid.
About Rocky Mountain
Rocky Mountain owns 100% of Andersons Liquor Inc. (“Andersons”), headquartered in Edmonton Alberta, which now own and operate 47 private liquor stores in that province, up from 18 stores since the Common Shares began trading in December 2008. It is listed on the TSX Venture Exchange (TSX-V:RUM). In addition to common shares the Company also lists convertible debenture on the Exchange under the trading symbol RUM.DB. You can visit Rocky Mountain Liquor’s website online at http://www.ruminvestor.com.
This news release may contain “forward-looking statements” within the meaning of applicable securities laws relating to the future growth of the Company, and the ability to execute its business strategy. Readers are cautioned not to place undue reliance on forward-looking statements, and in particular results achieved in 2014 and previous periods. Past results might not be a certain indication of future performance, which is subject to other risks, including but not limited to changes in operational policies, changes in management, changes in strategic focus, market conditions and customer preferences. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that these events may not materialize as well as those additional factors discussed in the section entitled “Risk Factors” in RUM’s Management Discussion and Analysis, which can be obtained at www.sedar.com. If they do materialize, there remains a risk of non-execution for any reason.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Peter J. Byrne
Chief Executive Officer
Chief Financial Officer
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Source: Rocky Mountain Liquor Inc. (TSX-V RUM)
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Posted: February 20th, 2014 under FSCWIRE.