Business
Rocky Mountain Liquor Announces Approval of Stock Consolidation by Shareholders
EDMONTON, AB / ACCESSWIRE / August 28, 2019 / Rocky Mountain Liquor Inc. (TSXV:RUM) (“...
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"Rocky Mountain Liquor Announces Approval of Stock Consolidation by ShareholdersEDMONTON, AB / ACCESSWIRE / August 28, 2019 / Rocky Mountain Liquor Inc. (TSXV:RUM) (“Rocky Mountain” or the “Company”) listed on the TSX Venture Exchange (the “Exchange”) is pleased to announce the voting results of its Annual General and Special Meeting (the “Meeting”) of Shareholders held on August 27, 2019. Rocky Mountain’s Shareholders approved all matters voted on at the Meeting as described in detail in the Company’s Management Information Circular (the “Circular”) dated July 15, 2019 available on SEDAR (www.sedar.com).Election of DirectorsShareholders at the meeting approved the election of the below Directors:Peter J. ByrneFrank ColemanRob Normandeau andAllison RadfordContinuation of Stock Option PlanShareholders were asked to vote to continue with the Corporation’s Stock Option Plan (the “Plan”). The resolution passed with 40,632,057 (76.7%) total votes cast “FOR” continuation of the Plan.Share ConsolidationRocky Mountain’s Shareholders were asked to consider for approval a resolution authorizing a consolidation of the common shares on the basis of a ratio of five (5) pre-consolidation shares for each one (1) post-consolidation share (the \"Consolidation\"). The resolution passed with 46,238,458 (87.3%) total votes cast “FOR” Consolidation. Consolidation was a requirement of the TSX Venture Exchange as a result of a previously announced transaction to redeem the Company’s outstanding 7.50% convertible unsecured subordinated debentures due April 30, 2021 in exchange for the issuance of common shares. That transaction closed July 3, 2019.The Company currently has 237,449,683 issued and outstanding common shares. Following the Consolidation the Company will have approximately 47,489,937 shares. Consolidation is subject to the TSX Venture Exchange’s final approval.Appointment of AuditorsGrant Thornton LLP was appointed as auditor for 2019.ABOUT ROCKY MOUNTAINRocky Mountain owns 100% of Andersons Liquor Inc., headquartered in Edmonton Alberta, which now own and operate 29 private liquor stores in that province, up from 18 stores since the Common Shares began trading in December 2008. It is liste...