NIAGARA-ON-THE-LAKE, ON,
Oct. 1, 2018 /CNW/ - Diamond Estates
Wines & Spirits Inc. ("Diamond Estates" or "the Company")
(DWS-TSX Venture) today announced that it has issued stock options
to its directors and key members of its management teams.
The Company considers stock options to be an important incentive
to align its management team with the objective of building
shareholder value over the long term. Consistent with this
philosophy, all six directors and 14 employees have been issued a
total of 6,850,000 share options, at a strike price of $0.28 per share.
Each option is exercisable for the purchase of one common share
for up to five years from the date of issuance, at which time they
expire. The options, which are being issued under the Company's
existing option program, vest at the rate of 25% on each
anniversary of the issuance date.
"These stock option grants reflect the key role being performed
by the directors and management in the successful execution of the
Company's strategic plan," said Murray
Souter, President & CEO of Diamond Estates. "Our
greatest asset is our people, and Diamond Estates is committed to
ensuring that management's success is aligned with that of
shareholders."
With such share option issuances, Diamond Estates has a total of
11,200,000 share options outstanding and there are 147,911,746
common shares issued and outstanding.
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.
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.
SOURCE Diamond Estates Wines & Spirits Inc.
