Business
RUM Completes $3 Million Mezzanine Financing
RUM Completes $3 Million Mezzanine Financing
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"\nRUM Completes $3 Million Mezzanine Financing\n\n\n Nov. 25, 2010 (Filing Services Canada) -- Rocky Mountain Liquor Inc. (RUM - TSX Venture), (\"Rocky Mountain Liquor\" or the \"Company\"), listed on the TSX Venture Exchange (the \"Exchange\") reported its subsidiary Andersons Liquor Inc. (\"Andersons\") has completed its $3 million in mezzanine financing from a National Merchant Banking firm (\"Mezzanine Lender\") which was initially announced on October 14, 2010.  The mezzanine financing can be used for working capital purposes, including general corporate purposes, investment buys on inventory, acquisition of liquor stores, and new store \"green-field\" developments.  The mezzanine financing is a 4-year second lien secured subordinated note and will bear cash interest at 9.90% per annum payable monthly.  There are no principal payments, with the principal amount due at maturity.  The Mezzanine Lender has been issued 1,000,000 warrants exercisable into Rocky Mountain Liquor shares at the Mezzanine Lender's option with a strike price of $0.3765 per share.  About Rocky Mountain Liquor:Rocky Mountain Liquor owns 100% of Andersons Liquor Inc. (\"Andersons\") headquartered in Edmonton Alberta, which owns and operates 32 private liquor stores in that province.  Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains \"forward-looking statements\" within the meaning of applicable securities laws relating to the future growth and priorities for the Company, and the ability to execute the business strategy. Readers are cautioned not to place undue reliance on forward-looking statements. 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 Rocky Mountain'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 (including but not limited to the inability to locate suitable acquisitions ...