Rocky Mountain Dealerships Inc. closes $24.18 million equity financing

(Stock Symbol "RME" - TSX)

CALGARY, AB, Sept. 15 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company") (TSX: RME) today announced that it has closed its previously announced equity financing by way of a short form prospectus on a bought deal basis by completing the sale of 3,900,000 common shares (including 400,000 common shares issued pursuant to the partial exercise of an over-allotment option) at a price of $6.20 per share, for gross proceeds of $24,180,000. The offering was completed through a syndicate of underwriters which was led by RBC Capital Markets and also included Canaccord Capital Corporation, Raymond James Ltd. and Macquarie Capital Markets Canada Ltd. After this offering, Rocky Mountain has approximately 17.76 million common shares issued and outstanding.

Net proceeds from the offering will initially be used to pay down outstanding bank debt and, subsequently, to fund Rocky Mountain's ongoing working capital requirements and to fund possible future acquisitions and capital expenditures.

This news release does not constitute an offer to sell or a solicitation of any offer to buy the common shares in the United States. The common shares have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements of such Act.

FORWARD LOOKING STATEMENTS

The information with respect to Rocky Mountain contained herein, contains forward-looking statements relating to the use of proceeds from the offering. These forward-looking statements are based on assumptions and are subject to numerous risks and uncertainties, certain of which are beyond Rocky Mountain's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency exchange rate fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers, stock market volatility and ability to access sufficient capital. As a result, Rocky Mountain's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur. In addition, the reader is cautioned that historical results are not necessarily indicative of future performance. Rocky Mountain does not intend, and does not assume any obligation, to update or revise these forward-looking statements except as required pursuant to applicable securities laws.

%SEDAR: 00026106E

SOURCE Rocky Mountain Dealerships Inc.

For further information: For further information: Rocky Mountain Dealerships Inc., 828 - 46th Avenue S.E., Calgary, Alberta, T2G 2A6, Matt Campbell, Chairman and Chief Executive Officer, (403) 243-8600, Garrett Ganden, Chief Financial Officer, Visit our website at www.rockymtn.com


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