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2023 Voting Results from its Annual General and Special Meeting

Diamond Estates Wines & Spirits Announces Voting Results from its Annual General and Special Meeting of Shareholders

September 7, 2023, Niagara-on-the-Lake, Ontario – Diamond Estates Wines & Spirits Inc. (“Diamond Estates” or “the Company”) (DWS-TSX Venture) announced the results of voting at its annual general and special meeting of shareholders (“AGM”) held yesterday in Toronto.

The following matters were approved at the AGM by at least 95% of the votes cast thereon:

·        Appointment of David Beutel, Guy Blanchette, John De Sousa, Claude Gilbert, Keith Harris, Andrew Howard and Ron McEachern as directors of the Company;

·        Appointment of MNP LLC as auditors of the Company;

·        Annual approval of the Company’s Stock Option Plan; 

·        Approval of Increase of Deferred Share Units Pool; and

·        Approval of the Share Issuance to a Related Party. Specifically, minority shareholder approval was obtained, with 98.80% of the eligible votes being cast in favour of the resolution to approve the issuance of common shares of the Company to Lassonde Industries Inc. and its related entities, and 1.2% of the eligible votes cast being opposed to the resolution.

In the Board of Directors meeting immediately after the AGM, the following individuals were appointed officers of the Company:

David Beutel: Chairman
Andrew Howard: President and Chief Executive Officer
Ryan Conte : Chief Financial Officer
Tim McChesney: Senior Vice-President, Marketing and Strategy
Andrew Green: Vice-President and Secretary.

About Diamond Estates Wines and Spirits Inc.

Diamond Estates Wines and Spirits Inc. is a producer of high-quality wines and ciders as well as a sales agent for over 120 beverage alcohol brands across Canada. The Company operates five production facilities, four in Ontario and one in British Columbia, that produce predominantly VQA wines under such well-known brand names as 20 Bees, Creekside, EastDell, Lakeview Cellars, Mindful, Queenston Mile, Shiny Apple Cider, Fresh, Proud Pour, Red Tractor, Seasons, Serenity and Backyard Vineyards.

Through its commercial division, Trajectory Beverage Partners, 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, Meffre, Pierre Chavin and Andre Lurton wines from France, Brimincourt Champagne from France, Merlet and Larsen Cognacs from France, Kaiken wines from Argentina, Blue Nun and Erben wines from Germany, Calabria Family Estate Wines and McWilliams Wines from Australia, Saint Clair Family Estate Wines and Yealands Family Wines from New Zealand, Redemption Bourbon and Rye whiskies from the U.S., Gray Whale Gin from California, Storywood and Cofradia Tequilas from Mexico, Magnum Cream Liqueur from Scotland, Talamonti and Cielo wines from Italy, Catedral and Cabeca de Toiro wines from Portugal, Waterloo Beer & Radlers from Canada, Landshark Lager from the USA, Edinburgh Gin, Tamdhu, Glengoyne and Smokehead single- malt Scotch whiskies from Scotland, Islay Mist, Grand MacNish and Waterproof whiskies from Scotland, C. Mondavi & Family wines including C.K Mondavi & Charles Krug from Napa, Wize Spirits, Hounds Vodka and Valley of Mother of God Gins from Canada, Bols Vodka from Amsterdam, Koyle Family Wines from Chile and Pearse Lyons whiskies and gins from Ireland.

For more information, please contact:

Andrew Howard               
President & CEO                                                       
Diamond Estates Wines & Spirits Inc.                                     

Ryan Conte, CPA, CA, CBV
Chief Financial Officer
Diamond Estates Wines & Spirits Inc      
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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