RUM Shareholders Continue Stock Option Plan - Revised from previous post
Edmonton, Alberta CANADA, October 13, 2011 /FSC/ - Rocky Mountain Liquor Inc. (RUM - TSX Venture), ("Rocky Mountain Liquor" or the "Company"), listed on the TSX Venture Exchange (the "Exchange"), today announced that its shareholders at the September 28, 2011 Annual General Meeting have approved to continue the Stock Option Plan, as distributed in the Management Information Circular dated August 26, 2011.
Under this Stock Option Plan, the Board of Directors have approved the granting of incentive stock options. Stock options were issued to certain directors allowing the purchase of 150,000 common shares of the Company. The options have been issued in accordance with the stock option plan as amended August 23, 2010 and continued September 28, 2011. The stock option plan allows for 1,250,000 options to be issued to directors, with this issuance, 1,107,137 options have been issued to directors.
As per the amended Stock Option Plan, the options have been priced to encourage early redemption. The issuance of these options is subject to final approval of the amended plan by the Exchange.
The options have an exercise price of:
Year 1: $0.18
Year 2: $0.19
Year 3: $0.22, being the closing price on the date preceding
this press release.
The options have a term of three years from the date of grant, and vest over a period of 12 months. One-quarter vests immediately, one-quarter vests December 31, 2011, one-quarter vest March 31, 2012 and the remainder vests on June 30, 2012.
Any shares issued under the Stock Option Plan are subject to the regulatory hold periods.
About Rocky Mountain Liquor Inc.
Rocky Mountain owns 100% of Andersons Liquor Inc. ("Andersons"), headquartered in Edmonton Alberta, which now own and operate 39 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).
Forward-Looking Statements
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 2011 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. Future acquisitions are subject to due diligence, other conditions and factors. Readers are cautioned there is no assurance potential acquisitions will be completed.
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
(780) 686-7383
Sarah Stelmack
Chief Financial Officer
(780) 863-2326
To view this press release as a web page, click on the link below:
www.usetdas.com/PR/rockymountainliquorREV13102011.htm
Source: Rocky Mountain Liquor Inc. (TSX-V RUM)
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