Content area
Abstract
Rocky Mountain Dealerships Inc. (the "Company" or "Rocky Mountain") (TSX:RME) today announced that it has entered into an agreement with a syndicate of underwriters, led by RBC Capital Markets, under which they have agreed to purchase (on a bought deal basis) from Rocky Mountain and sell to the public 3,500,000 common shares (the "Common Shares") at a price of $6.20 per share (the "Offering"). As part of the Offering, Rocky Mountain CEO, Matt Campbell intends to purchase 80,000 Common Shares with a purchase price of $496,000, and President, Derek Stimson intends to purchase 80,000 Common Shares with a purchase price of $496,000. Subject to the Offering and the intended purchases, Mr. Campbell will own (directly and indirectly) 16.44% of the equity and Mr. Stimson will own (directly and indirectly) 11.67% of the equity. The Offering is expected to close on or about September 15, 2009.