Rocky Mountain Dealerships (TSX-RME) Announces Closing Of Acquisition

About this update from Roland Mineral Enterprises Corp.

[{"type":"text","content":"\n\n\n\nCALGARY, Aug. 27 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky\nMountain" or the "Company") announces the completion of the previously\nannounced acquisition of Miller Farm Equipment 2005 Inc. ("Miller") for an\naggregate purchase price of $7.0 Million cash and 549,020 of the Company's\ncommon shares. Miller represents Case IH agriculture dealerships in Brandon,\nKillarney, Shoal Lake, Dauphin and Boissevain Manitoba and in Moosomin\nSaskatchewan. This transaction is also subject to a working capital adjustment\nbased on an effective date of August 1, 2008.\n\n\nIn fiscal 2007 Miller had top line revenue in excess of $101 million and\nEBITDA margins of 4.2%. The previous shareholders of Miller, Kevin Miller and\nDoug Heritage, will continue to be involved in the operation of Miller in\nsenior management roles.\n\n\nCommenting on the Company's acquisition, Matt Campbell, CEO of Rocky\nMountain said, "This strategic acquisition brings a geographic diversity to\nthe Rocky Mountain group within our stated strategy, while at the same time\nbringing a young and dynamic management team that further enhances Rocky's\nability to continue the delivery on its stated goals."\n\n\nAbout Rocky Mountain:\n\n\nRocky Mountain represents one of Canada's largest agriculture and\nconstruction equipment dealerships with 14 dealership branches located\nthroughout Alberta and now has an additional five dealerships in Manitoba and\none in Saskatchewan. Rocky Mountain sells, rents and leases new and used\nconstruction and agriculture equipment, including the Case Construction and\nCase IH Agriculture brands, as well as offering product support and finance\nand insurance products to its customers.\n\n\nAdditional information on Rocky Mountain is available on our website at\nwww.rockymtn.com and on SEDAR at www.sedar.com. The common shares of Rocky\nMountain trade on the Toronto Stock Exchange under the symbol "RME".\n\n\n%SEDAR: 00026106E\n\n\n","length":2057,"tagName":"div"}]

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