Niagara-on-the-Lake, Ontario--(Newsfile Corp. - November 10, 2025) - Diamond Estates Wines & Spirits Inc. (TSXV: DWS) ("Diamond Estates" or the "Company") announces that effective as at November 10, 2025 it entered into a further amendment (the "Seventh Amendment") to its Second Amended and Restated Credit Agreement (the "SARCA") with Bank of Montreal ("BMO"). Capitalized terms not defined below are defined in the SARCA. The notable terms of the Seventh Amendment are as follows:
- Credit Facilities. The establishment of a bulge amount credit facility (the "Bulge Amount") of $3,600,000 which matures on the date ("Temporary Bulge Period") that is the earlier of (a) the date on which Diamond requests in writing that the Temporary Bulge Period be cancelled and terminated (provided that such early termination shall not cause any Credit Excess (as defined in the SARCA) to exist and (b) March 27, 2026;
- Limited Guarantee. The addition of a limited recourse guarantee granted by Lassonde Industries Inc., in favour of BMO in an aggregate amount not exceeding the Bulge Amount then outstanding under the RT Facility.
- Interest Rates. The interest rates have been amended to be Prime Rate plus 2.65% during the Temporary Bulge Period and Prime Rate plus 2.40% at all other times.
"We want to thank Bank of Montreal for its ongoing support as Diamond continues its financial turnaround, as reflected in our Fiscal 2024/25 March 31 year end and Q1 results," said Andrew Howard, President and CEO of Diamond. The Company will be releasing its Q2 results towards the end of November.
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 four production facilities, three in Ontario and one in British Columbia, that produce predominantly VQA wines under such well-known brand names as 20 Bees, Creekside, D'Ont Poke the Bear, EastDell, Lakeview Cellars, Mindful, Shiny Apple Cider, Fresh Wines, Red Tractor, Seasons, Serenity and Backyard Vineyards.
Through its commercial division, Trajectory Beverage Partners, the Company serves as the sales agent for a wide range of leading international beverage brands.
Wine Portfolio:
Trajectory represents renowned wine brands, including Fat Bastard and Gabriel Meffre from France; Kaiken from Argentina; Kings of Prohibition from Australia; Yealands, Kono, Tohu, and Joiy Sparkling Wine from New Zealand; Talamonti and Cielo from Italy; Porta 6, Julia Florista, Boas Quintas, Catedral, and Cabeca de Toiro from Portugal; as well as C.K Mondavi & Family, Charles Krug, Line 39, Harken, FitVine, and Rabble from California. Trajectory also represents a broad portfolio of wines sold exclusively to restaurants, bars and private consumers.
Spirits Portfolio:
The Company also represents distinguished spirit brands such as Tag Vodka, Ginslinger Gin, and Barnburner Whisky from Ontario; Cofradia Tequila and Hussong's Tequila from Mexico; Islay Mist and Waterproof blended Scotch whiskies from Scotland; Glen Breton Canadian whiskies from Nova Scotia; Five Farms Irish Cream Liqueur and Broker's Gin from the UK; Tequila Rose Strawberry Cream, 360 Vodka, and Holladay Bourbon from the USA; Giffard Liqueurs from France; and Becherovka from the Czech Republic.
Beer, Cider, and RTD Portfolio:
In the beer, cider, and ready-to-drink (RTD) categories, Trajectory represents Bench Beer, Henderson Beer, Niagara Craft Cider, TAG and Ginslinger RTDs, and Darling Mimosas from Ontario; Rodenbach beer from Belgium; La Trappe beer from the Netherlands; and Warsteiner beer from Germany.
For more information, please contact:
Andrew Howard
President & CEO
ahoward@diamondwines.com
Contact number: 905-685-5673
Basman Alias
Chief Financial Officer
balias@diamondwines.com
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273897
SOURCE: Diamond Estates Wines & Spirits Inc.
