Apr. 15, 2011 (Filing Services Canada) -- Rocky Mountain Liquor Inc. (RUM - TSX Venture),
Sarah Stelmack, the current controller, of Rocky Mountain Liquor Inc. (TSX-V: RUM) ("Rocky Mountain" or the "Company") has been promoted to Chief Financial Officer ("CFO"). Sarah has worked closely with the current CFO, Mr. Tracey Bean, for over a year. Sarah is a Chartered Accountant who trained with a leading national audit and accounting firm and worked in the private sector prior to joining the Company.
"The value in transitioning a current employee will be obvious to our shareholders," stated Peter Byrne, CEO for Rocky Mountain Liquor, "When our company can promote from within, it ensures a smooth transition, continuation of experiences and is a much easier integration for our organization. It's a natural step, one that our entire organization will embrace. Sarah is admired and respected by our administration and operational people. I expect the change of responsibility to be seamless," Mr. Byrne said.
Sarah graduated from the University of Alberta in 2005 with a commerce degree. She articled with Deloitte in Edmonton the same year, and obtained her CA designation in June 2008. Sarah held a position as an accountant with Atco Gas before coming to Rocky Mountain Liquor as controller February 16, 2010.
Mr. Bean, due to family medical concerns, will be returning to be closer to his family in Ontario.
"Since joining Rocky Mountain in 2008, Mr. Bean has established and integrated a robust financial structure for our company. He has been a tireless leader. He first established a senior debt facility of $25 million, followed by a subordinate financing of $3 million and has just concluded his final goal to place an $8 million convertible debenture which closed two days before his departure. The demand for the debenture was so strong the agents exercised their over-allotment option. As a result the gross amount raised was increased to $9.2 million."
Mr. Byrne continued, "His outstanding contribution also included significant contributions to our Corporate Development. Twenty-three new stores, including the 5 announced today, have been acquired or developed by Rocky Mountain or are currently in development or due diligence during his 26 month tenure. He and I were very proud to receive the Alberta Venture Magazine Fast Growth 50 award this year as evidence of a strong result in corporate development," the CEO proudly added. Mr Byrne concluded his remarks by saying, "Despite the unfortunate reason for his departure, our company has been fortunate for his contributions during our transition through reverse take-over from a capital pool to a robust consolidator in the Alberta retail liquor industry"
The change occurs today, April 15, 2011.
About Rocky Mountain
Rocky Mountain owns 100% of Andersons Liquor Inc. ("Andersons"), headquartered in Edmonton Alberta, which owns and operates 35 private liquor stores in that province, up from 18 stores since the Common Shares began trading in December 2008.
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 2010 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.
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
Source: Rocky Mountain Liquor Inc. (TSX-V RUM)
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