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Announcing Exercise of Stock Options

Diamond Estates Wines & Spirits Announces Exercise of Stock Options

September 24, 2018, Niagara-on-the-Lake, Ontario – Diamond Estates Wines & Spirits Inc. (“Diamond Estates” or “the Company”) (DWS-TSX Venture) announces that directors of the Company exercised their options on Friday September 21, 2018, to purchase a total of 2,500,000 common shares of Diamond Estates at an exercise price of $0.20 per share on 2,000,000 of the options and $0.25 per share on 500,000 of the options.  The gross proceeds for the Company are $525,000.  The stock options were due to expire on September 23, 2018. 

“This investment underlines the continued long-term commitment of the Company’s Board of Directors,” said Murray Souter, CEO of Diamond Estates. “Our board is deeply involved in the affairs of the Company, playing a crucial oversight role as we focus on executing our strategic plan and building shareholder value.”

With such share issuances, Diamond Estates has a total of 147,911,746 common shares issued and outstanding.

Correction to Record Date

The Company also reported that there is an error in its recently mailed Management Information Circular (the “Circular”) for the upcoming Annual General and Special Shareholders’ Meeting on September 27, 2017 (the “Meeting”). The Circular incorrectly states that the record date for the Meeting is August 27, 2018, when it is actually August 20, 2018.  The Notice of Meeting filed on SEDAR on August 7, 2018 correctly notes the record date of August 20, 2018. 

About Diamond Estates Wines and Spirits Inc.

Diamond Estates Wines and Spirits Inc. is a producer of high quality wines and a sales agent for over 120 beverage alcohol brands across Canada. The Company operates three wineries, two in Ontario and one in British Columbia, that produce predominantly VQA wines under such well‑known brand names as 20 Bees, EastDell, Lakeview Cellars, Dan Aykroyd, Fresh, McMichael Collection, Benchmark, Seasons and Backyard Vineyards. Through its wholly‑owned subsidiary, Kirkwood Diamond Canada Partnership ("KDC"), the Company is the sales agent for many leading international brands in all regions of the country as well as being a distributor in the western provinces. These recognizable brands include Josh wines from California, Fat Bastard wines from France, Kaiken wines from Argentina, Marston's beers from England, Hpnotiq Liqueur from France, Anciano wines from Spain, Francois Lurton wines from France and Argentina, Waterloo Brewing and Amsterdam Brewery, both from Canada, Landshark Lager from the USA, Blue Nun wines from Germany, Malfy Gin from Italy, Edinburgh Gin from Scotland, Barcelo Rum from the Dominican Republic and Evan Williams Bourbon from the USA.

For more information, please contact:

J. Murray Souter   
President & CEO 
Diamond Estates Wines & Spirits Inc. 
905.641.1042 Ext 234         

Alan Stratton, CPA, CA
Chief Financial Officer
Diamond Estates Wines & Spirits Inc.
905.641.1042 Ext 225

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Diamond Estates Wines & Spirits LTD

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