Rocky Mountain Liquor Announces Formation of Special Committee

Rocky Mountain Liquor Announces Formation of Special Committee



Edmonton, Alberta (FSCwire) - Rocky Mountain Liquor Inc. (TSX-V: RUM) (the “Company” or “Rocky Mountain”), listed on the TSX Venture Exchange (the “Exchange”), today announced that its Board of Directors (the “Board”) has formed a Special Committee to explore strategic alternatives. The Special Committee of the Board is comprised of Rob Normandeau and Peter Byrne.

 
There can be no assurance that this exploration process will result in a transaction. The Company does not currently intend to disclose further developments with respect to this process, unless and until the Board appoints a financial advisor, approves a specific transaction or otherwise concludes the review of strategic alternatives.
 
About Rocky Mountain
 
Rocky Mountain owns 100% of Andersons Liquor Inc. (“Andersons”), headquartered in Edmonton, Alberta, which now own and operate 32 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).
 
In 2017 the Company commenced its re-branding strategy where it shifted its business focus away from higher margin convenience type stores under various brand names, to concentrate on higher volume, lower price point destination type stores under one brand called Great Canadian Liquor (“GCL”). To date, the Company has rebranded 15 stores, including seven new locations in 2018.
 
Detailed information in the form of the Company’s interim and annual consolidated financial statements and Management Discussion and Analysis are available under the Company’s profile on SEDAR at www.sedar.com and also on the Company’s website at www.ruminvestor.com. After accessing the website, please choose the “Investor Relations” tab to view Quarterly Reports/Annual Reports.
 
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 2018 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 Annual 2017 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






Source: Rocky Mountain Liquor Inc. (TSX Venture:RUM)

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