Business
Rocky Mountain Liquor Announces Completion of Issuance of Shares
EDMONTON, AB / ACCESSWIRE / May 12, 2022 / Rocky Mountain Liquor Inc. (TSX-V: RUM ) (the "Co...
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"Rocky Mountain Liquor Announces Completion of Issuance of SharesEDMONTON, AB / ACCESSWIRE / May 12, 2022 / Rocky Mountain Liquor Inc. (TSX-V:RUM) (the \"Company\" or \"Rocky Mountain\"), listed on the TSX Venture Exchange (the \"Exchange\"), announced today that the previously announced one-time issuance of listed shares worth $25,000 to each of two individual officers of the Issuer has been approved by the TSX Venture Exchange. 168,919 shares have been issued to each individual based on a deemed price $0.148, applying the volume-weighted average trading price of listed shares traded for the five trading days immediately preceding the issuance of shares. A total number of 337,838 shares were issued. Following this issuance, a total of 47,827,775 shares are outstanding.Under the Company's Stock Option Plan, the Board of Directors has approved the grant of stock options exercisable for a total of 192,308 common shares to a certain officer. All Options were granted pursuant to the Company's stock option plan, amended and restated August 23, 2010 and continued December 10, 2021 and are subject to the terms of the applicable grant agreements and the requirements of the TSX Venture Exchange. The Stock Option Plan allows for a maximum of 1,250,000 options to be issued to officers, employees and consultants with a total of 192,308 currently issued.As per the Stock Option Plan, the options have been priced to encourage early redemption.The options have an exercise price of:Year 1: $0.105Year 2: $0.113Year 3: $0.121The options have a term of three years from the date of grant with no vesting period. Any shares issued under the Stock Option Plan are subject to the regulatory hold periods.About Rocky MountainRocky Mountain owns 100% of Andersons Liquor Inc. (\"Andersons\"), headquartered in Edmonton, Alberta, which now owns and operates 26 private liquor stores in that province. It is listed on the TSX Venture Exchange (TSX-V:RUM).Forward-Looking StatementsThis news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by t...