Diamond Estates to file 2025 financials late

Mr. Andrew Howard reports DIAMOND ESTATES WINES & SPIRITS ANNOUNCES DELAY IN FILING OF YEAR END 2025 FINANCIAL STATEMENTS AND MD&A Diamond Estates Wines & Spirits Inc. has had a delay in the filing of its financial statements, its managements discussion and analysis, and chief executive officer and chief financial officer certificates for the year ended March 31, 2025, which were due to be filed by July 30, 2025, under applicable Canadian securities law requirements. The delay in filing is due to the need for additional audit procedures required by the company's external auditor in connection with certain transactions and estimates included in the financial statements. These additional procedures are necessary to ensure that the financial statements present fairly, in all material respects, the financial position and results of operations of the company in accordance with applicable accounting standards. The company is working diligently with its auditor to complete the audit and expects to file the required filings as soon as practicable. The company looks forward to providing further updates when available. As a result of the delay, the company expects to be noted in default by applicable securities regulatory authorities in Canada and that the Ontario Securities Commission, as principal regulator, will issue a failure-to-file cease trade order (CTO) in accordance with the principles and guidance set out in National Policy 11-207, Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, of the Canadian Securities Administrators. The CTO is expected to prohibit any trading in securities of the company for so long as it remains in effect, in all Canadian jurisdictions in which the company is a reporting issuer, as well as certain other Canadian jurisdictions based on the provisions of local securities legislation, and is anticipated to remain in effect until after the required filings have been filed. The CTO is also expected to result in a suspension of the company's shares from trading on the TSX Venture Exchange, which will continue until the CTO is revoked and all TSX-V requirements are satisfied. About Diamond Estates Wines and Spirits Inc. Diamond Estates Wines and 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 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 in all regions of the country. These recognizable brands include Fat Bastard, and Gabriel Meffre wines from France, Brimoncourt Champagne from France, Kaiken wines from 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) from Ontario, Talamonti and Cielo wines from Italy, Porta 6, Julia Florista, Catedral and Cabeca de Toiro wines from Portugal, Glen Breton Canadian whiskies, C.K Mondavi & Family, Line 39, Harken, FitVine and Rabble wines from California, and Charles Krug wines from Napa Valley, Hounds Vodka from Canada, Bols Vodka from Amsterdam, Koyle Family Wines from Chile, Bench Brewery from Niagara, 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.