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 filed and has obtained a receipt for a
preliminary short-form prospectus in connection with a proposed overnight
marketed offering (the "Offering") to issue and sell a minimum of $5,000,000 and
a maximum of $8,000,000 aggregate principal amount of convertible unsecured
subordinated debentures (the "Debentures") at an issue price of $1,000 per
Debenture. The Offering will be led by National Bank Financial Inc. (the
"Agent"). In addition, Rocky Mountain has also granted the Agent an option,
exercisable in whole or in part, up to 30 days following the closing of the
Offering, to increase the Offering by up to an additional $1,200,000 of
Debentures sold pursuant to the Offering to cover over-allotments and for market
stabilization purposes. The Offering is anticipated to close on or about April
13, 2011.


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 Company intends to list the Debentures issuable pursuant to the Offering,
including the Common Shares issuable on conversion of the Debentures, on the TSX
Venture Exchange (the "Exchange"), subject to fulfilling the listing
requirements of the Exchange.


The Offering is being made in all provinces of Canada, except Quebec and Prince
Edward Island, and is subject to the approval of applicable securities
regulatory authorities. The Debentures offered have not been registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful.


About Rocky Mountain

Rocky Mountain owns 100% of Andersons Liquor Inc. ("Andersons"), 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 preliminary prospectus, 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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