Rocky Mountain Liquor Inc. (TSX-V:RUM) recently released its financial results for the three and six month periods ending June 30, 2023. Despite high inflation, the company performed well during this time, with key operating and financial highlights showing positive growth.

In the three-month comparison from April 1 to June 30, several key metrics saw significant increases. Average sales per existing store rose by 5% to $436,854, gross margin increased by 7% to 24.2%, EBITDA increased by 17% to $517,683, and net income increased by 36% to $312,689.

Looking at the six-month comparison from January 1 to June 30, similar positive growth was observed. Average sales per existing store increased by 4% to $772,143, gross margin increased by 4% to 23.6%, EBITDA increased by 17% to $424,878, and net income increased by 21% to $22,429. Additionally, the company successfully reduced its total credit facility use by 33% to $3.65 million.

Allison Radford, CEO of Rocky Mountain, expressed her satisfaction with the company’s performance, particularly given the challenges posed by inflation. The strong financial results have allowed the company to reduce its debt by $1,796,880 in the past year, improving the company’s balance sheet and helping to offset increased interest costs. Rocky Mountain remains committed to reducing debt and identifying opportunities to increase shareholder value.

Looking ahead to the remainder of 2023, Rocky Mountain’s management will focus on managing costs and further growing The Great Canadian Liquor brand. The company aims to provide an exceptional customer experience while maintaining competitive pricing.

Overall, Rocky Mountain’s financial performance for the three and six month periods ending June 30, 2023, demonstrates its ability to navigate challenging market conditions and deliver positive results. With a focus on reducing debt and growing its brand, the company is well-positioned for continued success.

For more detailed information on Rocky Mountain’s financial performance, including interim consolidated financial statements and Management Discussion and Analysis, visit the company’s profile on SEDAR at www.sedar.com or its website at www.ruminvestor.com.

Investor Relations: A Closer Look at Rocky Mountain’s Quarterly Reports

Rocky Mountain, a company that owns and operates several private liquor stores in Alberta, recently announced a 36% increase in net income for the second quarter of 2023 compared to the same period in 2022. This positive performance is a testament to the company’s growth and success in the market.

With its headquarters located in Edmonton, Alberta, Rocky Mountain owns 100% of Andersons Liquor Inc., which currently operates 25 private liquor stores in the province. This number has steadily increased from 18 stores since the company’s common shares began trading in December 2008. As a publicly listed company on the TSX Venture Exchange (TSX-V:RUM), Rocky Mountain has a strong presence in the liquor retail industry.

It is important to note that while the company’s recent financial results are promising, forward-looking statements and information provided by Rocky Mountain should be considered cautiously. These statements include predictions about future events and performance and are subject to inherent risks and uncertainties. Factors such as changes in management, operational policies, market conditions, and customer preferences could potentially impact future performance.

Furthermore, the ongoing COVID-19 pandemic has posed additional challenges to the business landscape, including potential disruptions to operations and third-party suppliers. These risks should be taken into account when evaluating the company’s future prospects.

Investors and readers are advised to exercise caution and not to solely rely on the forward-looking statements and information in making investment decisions. Historical performance might not necessarily be indicative of future results, and additional risks and factors should be considered. To gain a comprehensive understanding of the risks associated with investing in Rocky Mountain, it is recommended to review the “Risk Factors” section in the company’s Management Discussion and Analysis, which can be obtained at www.sedar.com.

Rocky Mountain Liquor Inc. emphasizes that the forward-looking statements and information in this news release are valid as of the date of publication. The company does not have any obligation to update or revise these statements and information, unless required by applicable securities laws or the TSX-V.

Please note that the adequacy or accuracy of this release has not been evaluated by the TSX Venture Exchange or its Regulation Services Provider.

For more information about Rocky Mountain Liquor Inc., please contact:

Allison Radford

Chief Executive Officer

(780) 483-8183

Sarah Stelmack

Chief Financial Officer

(780) 483-8177

SOURCE: Rocky Mountain Liquor Inc.