RUM Rocky Mountain Liquor Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAW.


Rocky Mountain Liquor Inc. (TSX VENTURE:RUM) ("Rocky Mountain" or the "Company")
is pleased to announce that it has closed its previously announced overnight
marketed offering (the "Offering") of convertible unsecured subordinated
debentures (the "Debentures"). The Offering was led by National Bank Financial
Inc. with a syndicate including Raymond James Ltd. (the "Agents"). The final
Offering included $1,200,000 of Debentures that were issued pursuant to an
over-allotment option granted to the Agents. Due to demand, the Agents exercised
the over-allotment option in full. As a result, the total amount of Debentures
issued increased from the maximum offering amount of $8,000,000 to $9,200,000.


The Debentures will bear interest at an annual rate of 7.75% payable
semi-annually in arrears on April 30 and October 31 in each year, commencing
October 31, 2011. The maturity date of the Debentures will be April 30, 2016
(the "Maturity Date").


The Debentures will be convertible upon certain specified events including at
the holder's option at any time prior to the close of business on the earlier of
the Maturity Date and the business day immediately preceding the date specified
by the Company for redemption of the Debentures into common shares of the
Company ("Common Shares") at a conversion price of $0.50 per Common Share, being
a conversion rate of 2000.000 Common Shares for each $1,000 principal amount of
Debentures.


The key business objective that the Company expects to achieve using the net
proceeds of the Offering is to continue its present growth strategy by acquiring
and developing new liquor stores.


The Debentures will be traded on the TSX Venture Exchange under the symbol "RUM.DB".

About Rocky Mountain

Rocky Mountain owns 100% of Andersons Liquor Inc., headquartered in Edmonton
Alberta, which owns and operates 34 private liquor stores in that province, up
from 18 stores since the Common Shares began trading in December 2008.


Forward-Looking Statements

This news release may contain "forward-looking statements" within the meaning of
applicable securities laws relating to the future growth of the Company, the
Offering and the Company's ability to execute its business strategy. Readers are
cautioned not to place undue reliance on forward-looking statements and in
particular results achieved in 2010 and previous periods. Past results 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. Actual results and developments may differ materially from those
contemplated by these statements depending on, among other things, the risks
that these events may not materialize as well as those additional factors
discussed in the section entitled "Risk Factors" in Rocky Mountain's Annual
Information Form and in the prospectus filed in connection with the offering,
which can be obtained at www.sedar.com. If they do materialize, there remains a
risk of non-execution for any reason.

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