Business
RUM Acquires Two Liquor Stores
RUM Acquires Two Liquor Stores Edmonton, Alberta CANADA, March 14, 2013 /FSC/ - Rocky Mounta...
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"\nRUM Acquires Two Liquor Stores\n\nRUM Acquires Two Liquor Stores\nEdmonton, Alberta CANADA, March 14, 2013 /FSC/ - Rocky Mountain Liquor Inc. (RUM - TSX Venture), (the \"Company\" or \"Rocky Mountain\"), listed on the TSX Venture Exchange (the \"Exchange\"), today announced it has completed the acquisition of two stores in Central Alberta.   \nThe Company previously announced on January 24, 2013, it had entered into an agreement to purchase up to four stores from a single vendor, subject to certain conditions, including but not limited to the completion of a due diligence review, the amendment of real property leases and the receipt of senior lender approval.      \nThe purchase price of all assets acquired, including inventory, is significantly less than the previously announced estimate of $3,000,000 in January. The Company had sufficient financial resources to complete the transaction with cash. \nRocky Mountain has available term financing of $14,250,000 that it can use to continue to execute on its growth strategy.  Andersons currently operates 43 stores in Alberta, including 11 stores in Northern Alberta, 21 stores in Central Alberta and 11 stores in Southern Alberta.\nAbout Rocky Mountain\nRocky Mountain owns 100% of Andersons Liquor Inc. (\"Andersons\"), headquartered in Edmonton Alberta, which currently own and operate 43 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).\nIn 2012 the Company was ranked 220 in the inaugural Alberta Venture 250, recognizing Alberta's highest grossing companies based on 2011 results. The ranking published in the September issue of Alberta Venture and online at v250.albertaventure.com was evaluated on the 2011 revenue of Andersons Liquor Inc., a wholly owned subsidiary of RUM.\nAlso in 2012, the Company was ranked in the 24th annual PROFIT 200 ranking of Canada's Fastest-Growing Companies by PROFIT Magazine in September based on 2011 results.  The Company ranked 160th overall. This is the second consecutive year the Company has been ranked in the Profit 200. The award was evaluated on the five-year growth of Andersons Liquor Inc., the wholly owned subsidiary of the Company.  The rankings were ...