Rum Announces Voting Results From Annual General Meeting of Shareholders

EDMONTON, AB / ACCESSWIRE / June 25, 2024 / Rocky Mountain Liquor Inc. (TSX-V:RUM) (the "Company" or "Rocky Mountain"), listed on the TSX Venture Exchange (the "Exchange"), today reported the shareholder voting results of its 2024 Annual General Meeting held June 25, 2024 in Edmonton, Alberta.

Shareholders voted and approved to fix the number of directors at six (6).

The below individuals were nominated and received the requisite majority of votes and will be directors of the Company for the ensuing year:

Shareholders voted and approved to appoint PricewaterhouseCoopers LLP, Chartered Accountants as Auditors of the Company for the ensuing year and authorizes the directors to fix their remuneration.

The Company also announces the repayment of its bank loan with Toronto Dominion Bank ("TD"). Originally structured at $2,650,000, the loan was amortized over 36 months with monthly payments of interest and principal scheduled until August 30, 2025. As of June 21, 2024, the Company has settled the outstanding principal balance amounting to $731,809. The Company maintains an ongoing credit agreement with TD, encompassing a demand operating facility with a maximum availability of up to $5,400,000.

About Rocky Mountain

Rocky Mountain is a public company whose shares are traded on the TSX Venture Exchange (TSX-V:RUM). Rocky Mountain is the parent to a wholly owned subsidiary, Andersons Liquor Inc. headquartered in Edmonton, Alberta, which owns and operates 24 private liquor stores in that province.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as investment decisions. In particular, results achieved in 2022 and previous periods 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, the impact from COVID-19 pandemic on our operations and third party suppliers. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, 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.sedarplus.com. If they do materialize, there remains a risk of non-execution for any reason. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.

The forward-looking statements and information contained in this news release are made as of the date hereof, and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSX-V. This cautionary statement expressly qualifies the forward-looking statements or information contained in this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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SOURCE: Rocky Mountain Liquor Inc.