Diamond Estates Wines & Spirits Inc. Announces Issuance of Deferred Share Units, Share Options and Reminds Shareholders of AGM Voting

Rhea-AI Summary

Diamond Estates Wines & Spirits (OTC:DWWEF) issued deferred share units and share options and reminded shareholders to vote at its upcoming meeting.

The company granted 248,683 DSUs at a deemed price of $0.19 (settling $47,250 of deferred director compensation) and issued 600,000 share options to CFO Basman Alias at a $0.19 strike price, exercisable for five years with 25% annual vesting. Shareholders are urged to submit proxies early for the Oct 30, 2025 meeting; proxies must be received by Oct 28, 2025, 10:00 a.m. ET.

Positive

• 248,683 DSUs issued covering $47,250 deferred compensation
• 600,000 options align CFO incentives with shareholders (5-year term)

Negative

• Issuance creates potential future share dilution on settlement/exercise
• DSUs and options use equity-based compensation instead of cash

Niagara-on-the-Lake, Ontario--(Newsfile Corp. - October 23, 2025) - Diamond Estates Wines & Spirits Inc. (TSXV: DWS) ("Diamond Estates" or the "Company") today announced that it has issued deferred share units ("DSUs") to its directors as of today. Pursuant to the Company's deferred share unit plan, an aggregate of 248,683 DSUs at a deemed price per DSU of $0.19 have been issued by the Company to non-executive directors in settlement of $47,250.00 of deferred directors' compensation. The DSUs are to be settled in common shares of the Company when the director retires from all positions with the Company.

Share Options

The Company is also pleased to announce that today it is has issued 600,000 share options at a strike price of $0.19 per share option to Basman Alias, the new Chief Financial Officer of the Corporation (as of August 27, 2025). 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 are being issued under the Company's existing option program and vest at the rate of 25% on each anniversary of the issuance date.

"These share option grants reflect the key role being performed by Basman in the successful execution of Diamond Estates' strategic plan," said Andrew Howard, President and CEO of the Company. "Our greatest asset is our people, and the Board of Directors is committed to ensuring that management's success is aligned with that of the shareholders."

Upcoming Shareholder Meeting

Following up on the Company's press release of October 16, in light of the continued ongoing Canada Post service disruptions the Company strongly encourages shareholders to vote their shares well in advance of the upcoming shareholder meeting scheduled for Thursday, October 30, 2025, at 10:00 a.m. (ET). To ensure votes are received in a timely manner, shareholders are advised to submit their proxies or voting instructions through electronic means or via their intermediaries as early as possible and votes submitted by proxy must be received by Tuesday, October 28, 2025, at 10:00 a.m. (ET). The Notice of Meeting, Management Information Circular and related proxy materials (the "Meeting Materials") were filed on the Company's website and on the Company's SEDAR+ profile at www.sedarplus.ca.

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 is the sales agent for many leading international brands. These recognizable brands include Fat Bastard and Gabriel Meffre wines from France, Talamonti and Cielo wines from Italy, Kaiken winesfrom Argentina, Kings of Prohibition and McWilliams Wines from Australia, Yealands Family Wines and Joiy Sparkling wine from New Zealand, Cofradia Tequilas from Mexico, Maverick Distillery spirits (including Tag Vodka, Ginslinger Gin and Barnburner Whisky), Bench Brewing, Niagara Cider, Darling Ready to Drink and Hounds Vodka from Canada, Porta 6, Julia Florista, Catedral and Cabeca de Toiro wines from Portugal, Islay Mist and Waterproof blended Scotch whiskies, Glen Breton Canadian whiskies, C.K Mondavi & Family, Line 39, Harken, FitVine and Rabble wines from California & Charles Krug wines from Napa Valley, Rodenbach beer from Belgium, La Trappe beer from the Netherlands, and Tequila Rose Strawberry Cream, Five Farms Irish Cream Liqueur, Broker's Gin, Hussong's Tequila, 360 Vodka and Holladay Bourbon from McCormick Distilling International.

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/271733

FAQ

What did Diamond Estates (DWWEF) announce on October 23, 2025?

The company issued 248,683 DSUs and 600,000 share options and reminded shareholders about the Oct 30, 2025 meeting.

How many share options did Diamond Estates (DWWEF) grant to its CFO on Oct 23, 2025?

The company granted 600,000 options to CFO Basman Alias at a $0.19 strike price, exercisable for five years.

What are the terms of the DSUs issued by Diamond Estates (DWWEF)?

An aggregate of 248,683 DSUs were issued at a deemed price of $0.19, settling in common shares on director retirement.

When must proxies for Diamond Estates (DWWEF) be received for the Oct 30, 2025 meeting?

Proxies must be received by Tuesday, Oct 28, 2025 at 10:00 a.m. ET.

How do the granted options to the CFO vest for DWWEF?

Options vest 25% on each anniversary of the issuance date over four years.

Where can DWWEF shareholders find the meeting materials for Oct 30, 2025?

Meeting materials are available on the company's website and on SEDAR+.