TORONTO, Aug. 22, 2018 (GLOBE NEWSWIRE) -- This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the acquisition of securities of Rocky Mountain Liquor Inc. (the “Issuer”) by Battalion Consol Corp. (the “Acquiror”).
The Acquiror announces that on August 20, 2018, the Acquiror acquired additional common shares (the “Common Shares”) of the Issuer through the facilities of the TSX Venture Exchange (the “Transaction”). The Acquiror acquired ownership and control of 171,500 Common Shares at a price of C $0.13 per Common Share.
Immediately prior to the Transaction, the Acquiror directly owned and controlled 1,691,000 Common Shares, along with 624,000 convertible debentures which are convertible into 2,496,000 Common Shares of the Issuer at any time prior to April 31, 2021 (the “Acquiror Debentures”), representing approximately 7.1% of the issued and outstanding Common Shares as of August 20, 2018 based on 59,287,788 Common Shares issued and outstanding as of such date (assuming conversion of the Acquiror Debentures). Immediately prior to the Transaction, 2627786 Ontario Inc. (the “Joint Actor”), a joint actor with the Acquiror, directly owned and controlled 262,000 Common Shares, along with 387,000 debentures which are convertible into 1,548,000 Common Shares of the Issuer at any time prior to April 31, 2021 (the “Joint Actor Debentures”), representing approximately 3.1% of the issued and outstanding Common Shares as of August 20, 2018 based on 58,339,788 Common Shares issued and outstanding as of such date (assuming conversion of the Joint Actor Debentures). Prior to the Transaction, the Acquiror and the Joint Actor, together, directly and indirectly owned and controlled 5,997,000 Common Shares, on a partially diluted basis (assuming conversion of both the Acquiror Debentures and the Joint Actor Debentures), which represented approximately 9.85% of the issued and outstanding Common Shares as of August 20, 2018 based on 60,835,788 Common Shares issued and outstanding as of such date (assuming conversion of both the Acquiror Debentures and the Joint Actor Debentures).
Immediately following the Transaction, the Acquiror and the Joint Actor, together, directly and indirectly owned and controlled 6,168,500 Common Shares, on a partially diluted basis (assuming conversion of the Acquiror Debentures and the Joint Actor Debentures), which represented approximately 10.1% of the issued and outstanding Common Shares as of August 20, 2018 based on 60,835,788 Common Shares issued and outstanding as of such date (assuming conversion of the Acquiror Debentures and the Joint Actor Debentures).
The Acquiror acquired the securities of the Issuer for investment purposes. Depending on market conditions, the business and performance of the Issuer and other factors, the Acquiror or the Joint Actor may from time to time acquire and/or dispose of securities of the Issuer or continue to hold their current position.
To obtain a copy of the report filed pursuant to applicable securities regulations in connection with the foregoing, please contact:
John Paul Jeffrey
Director, Battalion Consol Corp.
416.770.1732