Business
ROCKY MOUNTAIN DEALERSHIPS INC. (TSX:RME) ANNOUNCES ACQUISITION OF K&M FARM EQUIPMENT LTD.
ROCKY MOUNTAIN DEALERSHIPS INC. (TSX:RME) ANNOUNCES ACQUISITION OF K&M FARM EQUIPMENT LTD.
About this update from Roland Mineral Enterprises Corp.
[{"type":"text","content":"\n\n\n\n Oct. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nIssued: 18,429,250 shares\n\nCALGARY, Oct. 15 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company") announced today that it has purchased 100% of the outstanding shares of K&M Farm Equipment Ltd. ("K&M"), a New Holland agriculture dealership, with locations in Westlock and Barrhead, Alberta. The purchase was funded with cash and 96,401 common shares of Rocky Mountain.\nK&M had top-line revenues of approximately $16.9 million in the most recent fiscal year ended November 30, 2009. Both locations will operate under the Hammer Equipment Ltd. division, a wholly owned subsidiary of Rocky Mountain.\nIncluding these branches, 21 locations have been added to Rocky Mountain since the initial public offering in December 2007, bringing the Company's total number of branches to 33.\n\nAbout Rocky Mountain\n\nRocky Mountain is one of Canada's largest agriculture and construction equipment dealerships with branches in Alberta, Saskatchewan and Manitoba. Rocky Mountain sells, rents, and leases new and used construction and agriculture equipment and offers product support, finance, and insurance products to its customers.\nAdditional information on Rocky Mountain is available on our website at www.rockymtn.com and on SEDAR at www.sedar.com.\n\n\n\n \nRocky Mountain Dealerships Inc., M.C. (Matt) Campbell, Chairman and Chief Executive Officer; Brian Taschuk, Chief Operating Officer...