Business
Rocky Mountain Dealerships Announces Closing Of Over-Allotment Option
/NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ CALGARY, Jan. 11 /C...
About this update from Roland Mineral Enterprises Corp.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE\n\n\nU.S./\n\n\nCALGARY, Jan. 11 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky\nMountain" or the "Corporation") is pleased to announce the closing of the sale\nof an additional 975,000 common shares in the capital of the Corporation\n("Common Shares") at a price of $10.00 per share for gross proceeds of\n$9,750,000 pursuant to the exercise of the over-allotment option (the\n"Over-Allotment Option") granted by Rocky Mountain to a syndicate of\nunderwriters led by RBC Capital Markets and which included BMO Capital\nMarkets, Scotia Capital Inc., Blackmont Capital Inc. and HSBC Securities\n(Canada) Inc. (collectively, the "Underwriters"). The Over-Allotment Option\nwas granted to the Underwriters in connection with the Corporation's initial\npublic offering of 6,500,000 Common Shares at a price of $10.00 per share (the\n"Offering"), which closed on December 20, 2007. The total gross proceeds\nraised pursuant to the Offering and the Over-Allotment Option was $74,750,000.\n\n\nThe net proceeds from the Over-Allotment Option, being $9,165,000, were\npaid to the former shareholders of Hammer Equipment Sales Limited ("Hammer")\nand Hi-Way Service (Medicine Hat) Inc. ("Hi-Way") as part of the purchase\nprice for the acquisition by Rocky Mountain of all of the issued and\noutstanding shares of Hammer and Hi-Way, as described in the final long form\nprospectus of Rocky Mountain dated December 11, 2007.\n\n\nAbout Rocky Mountain:\n\n\nRocky Mountain represents one of Alberta's largest agriculture and\nconstruction equipment dealerships with 13 dealership branches, revenues of\n$290 million, and 400 employees located throughout Alberta. Rocky Mountain\nsells, rents and leases new and used construction and agriculture equipment,\nincluding the Case Construction and Case IH Agriculture brands, as well as\noffering product support and finance and insurance products to its customers.\nThe Common Shares of Rocky Mountain trade on the Toronto Stock Exchange under\nthe symbol "RME".\n\n\n%SEDAR: 00026106E\n\n\n","length":2240,"tagName":"div"}]